Finance and accounting management is one of the most critical functions of your business. Effective decision making requires real time metrices, reporting and key performance indicators. The financial health of your business depends on timely and accurate information.
NetSuite Accounting Management Software provides complete visibility and streamlined processes that meet Australian best practice principles.
What is NetSuite Accounting Management Software?
NetSuite management and financial accounting solution includes general ledger, bank reconciliation, accounts payable, accounts receivables, expenses, financial reporting and operational business intelligence.
As an enterprise resource planning platform NetSuite accounting management is fully integrated with customer relationship management, inventory management, warehouse management, project accounting, resource scheduling, dispatch, field service operations and customer service management.
Being single business platform NetSuite business intelligence reporting spans financial and operation metrices including product and service gross margin analysis, service team performance and sales forecasting.
Benefits of NetSuite Accounting Management Software
Instantaneous information and insight delivered through:
- role-based dashboards
- real-time metrics.
More accurate reporting resulting in:
- deep dives that discover more detail
- knowing your business better.
Close with more confidence by:
- ensuring compliance with accounting standards
- speeding up the financial close.
More effective data import through:
- eliminating manual entry – instead using the NetSuite import data function
- extracting journal entries from any source and importing into NetSuite.
Improved financial planning by:
- maintaining profitability during times of industry change
- customising financial reports on the fly.
Improved invoicing by:
- faster billing deducing days sales outstanding
- transparent debtor management reducing bad debts.
Financials and business performance
Klugo knows the Australian business landscape. We’ve been operating in Australia since 2012, and have helped hundreds of organisations take their business to the next level and move to cloud accounting software.
As one of the largest ANZ NetSuite partners, we help you deliver optimal accounting and financial management that’s compliant with all Australian tax and accounting standards.
Through NetSuite, you can access a pre-configured dashboard, reports and automations that are tailored to your specific needs. And don’t forget that all these functions are located in one place and can be accessed from your mobile digital device.
Accelerate the financial close whilst maintaining compliance with applicable Australian accounting standards. Close with confidence and report financials quickly and accurately.
A positive customer experience is achieved when a business truly understands their customers needs. Visibility over the customer journey and lifecycle is the key to achieving this.
NetSuite Accounting Management Software modules
NetSuite modules empower organisations and their accounting teams to take their business to the next level.
Accounts Payable - Accounts Receivable - General Ledger
Accounts Payable (AP)
Accounts Payable (AP) tasks, such as approval routing and invoice matching, are automated, with the need to input data manually almost completely eliminated. This automation means you hire fewer people, make payment faster and more smoothly, make fewer errors and reduce the risk of fraud.
Accounts Receivable (AR)
The Accounts Receivable (AR) feature eliminates the need to enter any detailed debits and credits, and allows you to track your receivables, receive payment and manage your customer list.
General Ledger (GL)
The General Ledger (GL) includes a variety of key tasks that include reconciling bank and credit card statements, importing online banking data, configuring key performance indicators and correcting bank reconciliation reports. It also provides an in-depth insight into your own business projects and overall financial performance.
Advanced Project Accounting
The Advanced Project Accounting module automates job creation and manages multiple project types. It links events, calls and tasks to specific projects and manages client information in one place. A sophisticated module created for project based services companies, it offers role-based tailorable dashboards and reports that help you analyse your field technicians’ workload and efficiency.
The Advanced Project Accounting module provides greater oversight of operations and enables more control over project accounting. It also helps you gain an accurate picture of the true cost of your services.
The Financial Reporting module provides standardised reports and the opportunity to create and customise your own reports. Dashboards can be tailored to specific roles, and report layouts tailored to different formats. It provides accurate statements and reports that comply with US GAAP and IFRS accounting standards. It is also accessible from anywhere in the world via a web browser or mobile device.
The Financial Reporting module allows you to gain a big picture view of your finances, along with the capacity to analyse information from anywhere at any time.
It features flexible, multidimensional reporting, and has an easy-to-use ‘Financial Report Builder’ that allows you to design your own financial statements.
NetSuite OneWorld is for multi entity companies wanting to streamline multi-subsidiary operations. It provides visibility across subsidiaries and ownership structures. It offers role-based dashboards, a multi-language user interface, and a clear view in real time into every level and corner of your business. OneWorld supports tax and reporting in more than 100 countries and features a tax engine that can be configured to the specific needs of your business.
NetSuite OneWorld is a transformative solution that costs significantly less than traditional on-premise enterprise resource planning (ERP) software.
NetAsset – Advanced Fixed Asset Management
NetAsset is a native SuiteApp that provides total support throughout the life cycle of the asset.
The advanced fixed asset tool offers bulk processing, physical asset tracking, asset transfers and eliminations between companies, direct connection vendor invoices and projects, advanced reporting and other capabilities such as an end-to-end audit trail.
Integrated service teams and field service operations
The advanced fixed asset tool enables accounting, insurance, claims, tracking, reporting and maintenance. It offers direct links to the asset through NetSuite, capturing comprehensive data – both financial and non-financial, and does everything in one system with no integrations or outside systems.
Klugo implements a NetSuite native single touch payroll compliant solution for Australia and New Zealand.
Employees enter their timesheets into NetSuite, allocate time to specific projects and tasks, and then access all employment and payroll information through an interactive employee centre. Payroll is processed and ABA files are generated to ensure pay runs are smooth and on time.
The ‘on platform’ payroll solution minimises the risk of overpayment, underpayment and other errors. It’s also Australian Taxation Office compliant.