About NetSuite Advanced Financials
Oracle NetSuite Advanced Financials helps you plan out your budgeting more easily, manage your expenses more efficiently, and allow for hassle-free flexible billing. In addition, NetSuite Advanced Financials provides you with statistical account functionalities for reporting both monetary and non-monetary values.
One of the key features of NetSuite advanced financials, budget management provides a way to contrast your budget statement with your actual spending. Alongside this, it allows for ease in comparing multiple budgets and creating new budgets from old ones. As life happens, this allows you to tweak your budget as you go along all while seeing how it compares to your real-time spending.
Allocation, Amortization, & Statistical Accounts
Save time and allow your team to do the work that really matters. By automating expense distribution and allocation, the finance team can focus on improving and saving. The Allocation feature allows you to record expenses without assigning them to a specific department or location and then allocate them later based upon a weighted formula. The Amortization scheduler makes it easy to plan out spending on things such as bills, bill credits, and jobs. It also allows you to link your spending to a specific job to amortize expenses in proportion to the percent of completion. Statistical accounts store non-monetary values, such as headcount or floor space. The program can then allocate funds in proportion to the non-monetary value, by customer review perhaps...
Flexible Billing Schedules
NetSuite Advanced Financials can also save your team time when it comes to the billing process. Billing can be integrated with sales commissions and sales forecasts to give a clearer picture of future finances, and allow for more accurate budgeting and planning. You can also set up flexible billing schedules and assign these schedules based on sales order line items. On the customer's end, it allows for easy self-service capabilities, to edit their own billing plans, method of payment, and demographic info.