Sophisticated Financial Management Made Easy On NetSuite Cloud ERP
Easily automate billing processes
NetSuite Advanced Financials offers companies a range of solutions for managing their finances, including budgeting, expense allocations and more flexible billing management tools. This makes it easy for finance departments to automate billing processes and cut down on the amount of manual labour required.
Easily Manage Multiple Budgets And Get Real-Time “Budget Vs Actual” Figures With NetSuite Advanced Financials
Users will be able to create customised billing schedules and templates, as well as automate the production of invoices tailored to different types of orders. The advanced management capabilities offer sophisticated expense allocations that make it a simple task to assign expenses based on typical weighting, while companies can also set up schedules to simply amortise expenses.
Key Area Functionality
Using NetSuite Advanced Financials makes it easier to keep track of expenses and ensure that budgets remain under control. A single, intuitive interface enables finance professionals to enter budgets, create new plans based on existing solutions or import figures from Excel. The Multiple Budgets feature enables you to set up and report on more than one budget using the same criteria, while reports show you how the reality matches up to your plans.
The billing management features of the module enables users to take control of recurring revenue-based billing processes. It allows you to bill customers on a one-time or regular basis and manage different payment terms. Integrated revenue functionality makes it easy to link billing schedules to accommodate many types of sales, such as installment plans or plans that require a set amount for an initial payment.
The software can also help businesses create automated amortisation schedules that can help streamline processes such as the amortisation of prepaid expenses. These schedules can also be linked to jobs, which means expenses can be amortised in proportion to a job’s percentage of completion.
Manage multiple budgets
Real-time monitoring of budgeted versus actual spending
Create flexible billing schedules
Allocate expenses by department, location, class or account
Link amortisation schedules to bills, bill credits and jobs
Integrate billing with sales commissions and forecasts