Many companies that hire a NetSuite business consultant on Long Island are looking for a way to better manage their business’s finances. NetSuite offers comprehensive accounting tools that can your technology consulting team can configure to meet your specific needs. Here is a closer look at some of the NetSuite tools your business consultant may recommend you incorporate into your accounting processes. Each of these tools can be added to your NetSuite platform in any combination for a monthly fee.
NetSuite Advanced Financials
The Advanced Financials module from NetSuite puts all of the information you need to make smart financial decisions in a single screen so that is always easy to access. The Advanced Budgeting tool lets you enter all of your budgeting items on one screen and import and export budget information as needed. The Expense Allocation component lets you automate all of your company’s expenses and streamline the process of spending money in and on your business. With the Amortization Schedules tool, you can prevent accounting redundancies and make it easier than ever before to stay on top of bill payments.
NetSuite Incentive Management
Do you incentivize your sales staff or other members of your team? With Incentive Management, you can make this complex process easier while building a variety of incentive plans that better account for the way your team does business. Build commission plans and incentive structures that capture complex variables and award people accordingly. Handle multiple commission types and set parameters for when commissions are calculated. Your team will appreciate seeing incentives accumulate in real time, so they can stay more motivated and in tune with their goals.
NetSuite Revenue Recognition
Recognizing revenue at the appropriate time is a complicated process, and errors can be costly. NetSuite Revenue Recognition allows you to set a recognition schedule and automate journal entries while staying AICPA, FASB, and SEC compliant with all of your quarterly earning reports.