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Statistical Accounts in NetSuite
Have you ever needed to track non-monetary accounts in NetSuite? With Statistical Accounts in NetSuite, you can do that. Let's take a quick look at what these accounts are and how you can set them up in NetSuite. Statistical Accounts Overview First, the Statistical...
Multiple Calendars in NetSuite
If you use OneWorld, then you should consider using the Multiple Calendars feature. When you enable Multiple Calendars in NetSuite, you can create multiple fiscal calendars that apply to your accounting periods and tax periods. Let's take a look at this feature and...
NetSuite In-Transit Payments
The NetSuite In-Transit Payments feature helps visualize the separate steps that payments go through. To do this, In-Transit Payments has two distinct stages: recording a payment intent and documenting the actual deposit. In this blog, we're going to take a look at...
Consolidated Payments in NetSuite
If some of your customers have subcustomers, then you should definitely consider using Consolidated Payments in NetSuite. The NetSuite Consolidated Payments feature allows you to accept payments from either top level customers or from the individual subcustomers who...
The NetSuite Intercompany Framework Feature
Introduction The NetSuite Intercompany Framework feature allows you to manage intercompany workflows. Primarily, this feature manages intercompany cross charges and intercompany netting. NetSuite Intercompany Framework Overview So how does the Intercompany Framework...
NetSuite Automated Intercompany Drop Ship
Here's a scenario you may find yourself in. Perhaps you receive an order from a customer in one subsidiary for an item in a different subsidiary. How would you go about fulfilling that order? Did you know you can actually drop ship the order from the second subsidiary...
NetSuite Automated Intercompany Management
The NetSuite Automated Intercompany Management feature allows you to create transactions between subsidiaries, allowing your subsidiaries to buy from and sell to one another. The Automated Intercompany Management feature also creates elimination journal entries to...
The NetSuite Multiple Budgets Feature
Being able to prepare budgets for different financial scenarios gives you greater control and insight into your business. A key way that NetSuite helps you do this is through the Multiple Budgets feature. You can enable this feature under the Advanced Features section...
NetSuite Expense Allocation
Does your business need to do expense allocation? The NetSuite Expense Allocation feature allows businesses to effectively manage their expenses. Let's take a look at how you can set up and use the Expense Allocation feature in NetSuite. NetSuite Expense Allocation...
GL Audit Numbering in NetSuite
The GL Audit Numbering feature in NetSuite allows NetSuite users to ensure their financial compliance and control. Here's a step-by-step guide on how to set up and use this feature, including a detailed look at the process of creating custom GL audit numbering...