What is NetSuite Cloud Accounting Software?

Improve financial controls, close faster and produce accurate reports

What is NetSuite Cloud Accounting Software?

NetSuite cloud accounting software simplifies the process of recording transactions, managing payables and receivables, and closing the books with capabilities such as AI that boosts the automation of manual processes. With real-time access to financial data, you can quickly drill into details to resolve issues and generate statements and disclosures to comply with multiple regulatory financial compliance requirements, including AASB 16, IFRS and ASX and more.

Accounting All in One Place

Gain real-time insights into numerous financial metrics, such as profitability ratios, inventory margins, liabilities, fixed assets, taxes and cash positions. Ensure compliance with accounting standards, government regulations, tax codes and internal policies.

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Automating repetitive tasks, such as creating journal entries or reconciling account statements, and eliminating the need to collect and normalise data from other departments saves finance teams dozens of hours every month. Now, they can focus on reviewing transaction details, investigating anomalies and analysing trends.

Access Anywhere

Because your data is stored in the cloud, not in your office, it is available anywhere there’s an internet connection. Your accounting team, executives, operational teams and employees can work from anywhere, anytime.

Accounting and Beyond

As your company grows and you face more complex business challenges, NetSuite’s got you covered. As a unified platform, NetSuite accounting software seamlessly integrates with all the other pieces of the suite, including financial management capabilities, inventory and order management, customer management, ecommerce and more. Now you can stop worrying about your business systems and concentrate on growth.

NetSuite Cloud Accounting Software Features

NetSuite seamlessly couples core finance and accounting functions with strong compliance management, improving business performance and increasing financial close efficiency while reducing back-office costs.

General Ledger

With NetSuite's general ledger capabilities, accounting professionals gain flexibility and visibility, richer reporting functionality, enhanced audit trails and the ability to customise account types, transactions and reporting segments to meet unique business requirements.

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Cash Management

Finance teams need the visibility and reporting tools to optimise cash flows, monitor bank accounts, manage liquidity and make informed decisions. NetSuite provides a complete view of the company's money flows and cash position so finance teams can be more strategic than ever before.

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Accounts Receivable

NetSuite automates and streamlines every aspect of invoice delivery, payment processing and collections management so you can increase liquidity to fund growth, shorten the credit-to-cash cycle, enhance service levels and seize new investment opportunities as they arise.

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Accounts Payable

By automating your accounts payable processes, NetSuite saves time and increases efficiency. Avoid late fees and improve cash flow by taking advantage of early payment discounts. Ensure compliance with internal policies and avoid payment fraud with automated review and approval workflows.

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Account Reconciliation

Automate the reconciliation process for accounts payable and receivable, bank, credit card, prepaid, inventory, accruals, fixed assets, intercompany transactions and other balance sheet accounts. Centrally manage and view the status and details of each account with balance comparisons, preparers, reviewers, and sign-off dates.

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Account Reconciliation Software dashboard

Tax Management

Manage domestic and global tax through one simple, easy-to-use solution that generates detailed reports, analysing transactions down to line-item tax details in real-time. NetSuite handles local taxes across subsidiaries and allows for multiple tax schedules for everything from GST to VAT, consumption tax and general sales tax.

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Close Management

Accelerate the financial close by automating inefficient manual tasks, such as journal entries, account reconciliations, variance analysis and intercompany transactions.

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Fixed Assets Management

NetSuite enables businesses to manage and control the complete lifecycle of depreciating and non-depreciating assets, from creation to disposal. Finance teams can eliminate manual spreadsheets and overcome the challenge of tracking assets across multiple facilities with a fully integrated fixed-asset accounting solution.

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NetSuite Fixed Assets Management dashboard

Payment Management

Whether you invoice customers, bill their credit cards on a recurring basis or accept payments online or at the point of sale, NetSuite bank payments and payment processing solutions give you the tools to increase collections and real-time financial data insights that help track and reduce days sales outstanding.

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Learn How ERP Can Streamline Your Business

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If anyone wants business data or insights, they go to NetSuite, not another system or someone’s spreadsheet. It's the source of truth for everything we do.

Tim Murton
CFO, SYPAQ

NetSuite Cloud Accounting Software Benefits

Increase Accounting Accuracy. Eliminate duplicate data entry and inefficient spreadsheets.
Real-time Information. Real-time metrics and role-based dashboards help you keep an eye on the business.
Close with Confidence. Accelerate the financial close and maintain compliance with accounting standards.

Challenges NetSuite Cloud Accounting Software Solves

Manual Processes. Automate and simplify manual accounting processes that waste time and resources.
Data Accessibility. Gain a single source of real-time transactional, financial and operational data.
Accuracy. Replace spreadsheets and boost accuracy by eliminating duplicate data entry and incorrect formulas.
Compliance. Consistently apply the appropriate rules and schedules to revenue recognition, depreciation, prepaid and deferred expenses and other financial processes.

SuiteAccountants

It’s never been easier or more cost-effective for accounting firms to support NetSuite users. With the SuiteAccountants program, accounting professionals receive a free NetSuite licence so they can access their clients’ NetSuite accounts and perform any needed tasks.

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Faster Time to Value

NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.

How Much Does NetSuite Cloud Accounting Software Cost?

Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

Users subscribe to NetSuite for an annual licence fee. Your licence is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for the initial set up. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.

Accounting capabilities are included with the NetSuite platform licence.

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