NetSuite Accounting Features
NetSuite is designed to track every part of the accounting process from the creation of your products to the distribution of your products. It allows for tailoring among many options in its financial accounting software to ensure you track the information most relevant to your business. It combines automation with real-time access to provide relevant information to all parties involved.
NetSuite can track detailed information regarding inventory without requiring third party assistance. Its features include multiple inventory locations, multiple units of measure, and specific identification of inventory. It offers the option of integrating with UPS and FedEx to print labels, generate tracking numbers, and validate addresses directly within NetSuite. You also have the option to set up automatic inventory replenishment levels using historical data.
NetSuite can automatically handle many of the tricky situations that arise with Accounts Payable. It will use vendor settings to calculate discounts and follow exception processing rules set in place for instances when invoices do not match purchase orders or receipts. It also easily tracks multiple accounts you may have with a single vendor.
NetSuite gives customers access to their own Customer Center. Within the portal they have access to real-time order status, invoice and payment options, promotional offers, and support inquiries. Information between the Customer Center and NetSuite is automatically synced, so any payments made from the Customer Center will immediately post to the Accounts Receivable ledger within NetSuite.
NetSuite offers a similar portal to employees with an Employee Center containing paycheck history and W-4 update capability. It can securely track confidential documents and employee information. NetSuite also offers time tracking and expense reporting, which allows supervisors to quickly approve all payroll related reports. Additionally, employee dashboards allow them to see their commissions, calendar, tasks, and reminders in real-time.