Modules & Features List
Oracle NetSuite's financial management and accounting module includes accounts receivable, accounts payable, multi-currency, billing, invoicing and statutory reporting. With thousands of customers around the world, NetSuite also supports several localizations delivered out of the box or via its network of partners.
NetSuite's accounting module is a comprehensive financial management solution designed for businesses of all sizes. It offers a range of features including accounts payable and receivable management, general ledger, bank reconciliation, financial reporting, and budgeting and forecasting.
The module allows users to automate many financial processes, reducing manual errors and improving efficiency. It also offers customizable dashboards and reports, providing real-time visibility into a company's financial performance. Additionally, it is integrated with other modules within the NetSuite system, such as inventory man
General Ledger and Financial Reporting:
NetSuites finance module and GL allows for the tracking and reporting of financial transactions, including income and expenses, assets, liabilities, and equity. Users can create and customize financial statements, such as balance sheets and income statements, to gain insight into the financial performance of the organization. It also allows for the creation of different chart of accounts, which is a way to group similar financial transactions together for reporting and budgeting purposes.
Multi-currency Support:
Netsuites finance module provides a feature that allows the user to conduct financial transactions in multiple currencies, automatically converting them to the base currency. It also enables the generation of financial reports in multiple currencies, providing a clearer understanding of the organization's global financial performance. This feature also allows the user to set the currency exchange rate, which can be done automatically or manually, and also allows to set a different rate for different date.
Budgeting and Forecasting:
Netsuites budgeting and forecasting feature allows users to create budgets and forecasts for various departments, projects, or products, and compare them to actual financial results. This helps to identify variances and make adjustments as needed to improve financial performance. The budgets can be created in different levels, such as by department, business unit, or location. This feature also allows to create different scenarios, to compare different budget scenarios and choose the best one.
Financial Consolidation:
Netsuites accounting module includes the consolidation of financial information from different subsidiaries, departments, or projects, providing a unified view of the organization's financial performance. This feature allows to consolidate the financial information from different entities, and also allows to do the consolidation in different levels, such as by department, business unit, or location.
Accounts Payable and Accounts Receivable:
This feature allows the user to manage and track vendor invoices and customer billing and payments. It includes functionalities like creating invoices, recording payments, and generating reports on accounts payable and receivable. This feature allows to create different types of invoices, such as recurring, credit memos, debit memos, and also allows to apply different payment terms, such as net 30, net 60, etc.
Cash Management:
Netsuite cash management enables the user to track and manage cash flow, including the management of bank accounts, reconciling bank statements, and generating cash flow reports. This feature allows to create different bank accounts, and to reconcile them with the bank statements, using different methods of reconciliation, such as by transaction, by check, or by deposit. It also allows to generate cash flow reports, which provide a detailed view of the cash inflows and outflows.
Financial Period Close Management:
Netsuite's financial closing feature streamlines the process of closing the financial period by automating tasks such as journal entries, account reconciliations, and financial statement preparation. This feature allows to close the period in different levels, such as by department, business unit, or location, and also allows to set up different close periods for different entities.
Tax Management:
NetSuite has a tax management feature that allows the user to manage and track sales and purchase taxes, including the calculation, collection, and remittance of taxes, as well as the generation of tax reports. This feature allows to set up different tax codes, and to apply them to the different transactions, such as invoices, sales orders, and purchase orders. It also allows to set up different tax schedules, and to calculate the taxes based on different methods, such as by location, by product, or by customer.
Audit Trail and Controls:
Netsuite's finance module and accounting package has a feature that provides a record of all financial transactions and changes, allowing for easy auditing and compliance with financial regulations. It also includes functionalities like user permissions, which ensures that only authorized users can access financial information and make changes. It also allows to set up different levels of access permissions for different users, such as view only, edit, or approve. This feature also allows to set up different audit trails, such as by transaction type, by department, or by location.
Customizable Financial Statements:
NetSuite's finance module allows the user to create and customize financial statements, such as balance sheets and income statements, to gain insight into the financial performance of the organization. This feature allows to create different financial statements, such as balance sheet, income statement, cash flow statement, and also allows to customize them by adding different columns, such as department, location, or project. It also allows to generate different financial statements for different periods, such as by quarter, by year, or by month.
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NetSuite's Bill of Materials (BOM) functionality provides a robust set of features designed to simplify the creation and management of BOMs. These include the ability to define the type and quantity of materials, components, and assemblies needed for each product through BOM Creation and Management. The software supports multi-level BOMs, which is crucial for complex products with multiple levels of assembly. BOM revisions and version control allow for tracking changes, creating new revisions with unique identifiers and effective dates, and archiving old versions.
In addition to these, NetSuite's BOM functionality includes routing, linking each operation with a specific step in the BOM, and a 'Component Where-Used Inquiry' feature that identifies all the BOMs where a specific component is used. Cost roll-up features aggregate the costs of all the components in a BOM to determine the total estimated cost of manufacturing the final product. Finally, NetSuite's BOM functionality seamlessly integrates with other modules for efficient operations, and it also offers industry-specific BOM capabilities.
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NetSuite MRP is a module within the comprehensive NetSuite ERP system. It focuses on Material Requirements Planning (MRP), a process that helps businesses plan their resource requirements including raw materials, production capacities, and scheduling to meet customer demands efficiently. This system plays a crucial role in ensuring that materials are available for production, products are available for delivery to customers, and that manufacturing activities are planned efficiently.
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NetSuite's production planning module offers a comprehensive suite of tools to streamline and optimize manufacturing processes. It enables businesses to predict future demand through its Demand Planning feature, using historical data, sales forecasts, and market trends. This module also provides a Master Production Schedule (MPS) based on demand forecasts, and a Material Requirements Planning (MRP) feature that calculates necessary materials based on the MPS and current inventory levels. Further, Work Order Management generates detailed work orders for production tasks, while Routing and Scheduling tools optimize resource use and ensure timely production. Real-time tracking and detailed reporting offer visibility into production processes, and Capacity Planning assists in managing production capacity to meet demand forecasts and avoid bottlenecks
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NetSuite's Quality Management solution supports your organization in establishing and maintaining a consistent level of quality in your products and services. With a systematized, customizable approach to inspections, tests, reworks, and reports, it ensures that quality management becomes an integrated part of your business processes.
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Oracle NetSuite OpenAir module provides robust professional services automation functionality covering project management and accounting, resource management, billing, revenue recognition, time recording and expenses.
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SuiteCommerce
Oracle NetSuite omnichannel commerce unifies the various buying channels including point of sale (POS), ecommerce/online sales or traditional sales order processing, for both B2B & B2C business models.
Oracle NetSuite’s manufacturing, distribution and supply chain management capabilities are all built on the premise that the physical location that a product is made or stored in should be irrelevant to your decision making process—it may add to your lead time, but NetSuite let's you manage it all with ease.
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Human Resources (SuitePeople)
SuitePeople enables managers and HR professionals to streamline employee information, new hires, employee onboarding, payroll, promotions and compensation changes, all from a single Suite. SuitePeople also provides employees with the ability to request time-off, access employee directories and organization charts, monitor upcoming vacation schedules, monitor new hires and publicly recognize peers for good work.
Customer Relationship Management (CRM)
Oracle NetSuite CRM provides global visibility into and management of every aspect of CRM, including marketing campaigns, sales opportunities, forecasts, customer service, partner management and more
