NetSuite Financial Management Cloud Service

NetSuite simplifies budget management with intuitive features:

1. Budget Creation: Easily input and manage budgets on a single screen. Utilize the Copy Budgets feature to replicate existing budgets or actuals with adjustments. You can also import budgets from Excel via CSV for convenience.
   
   
2. Multiple Budgets: Establish and report on various budgets for the same criteria, such as comparing a typical budget versus a conservative one.
   
   
3. Comprehensive Reporting: Generate detailed Budget Income Statements and Budget vs. Actual reports. Customize your budget reporting to fit specific business requirements.

NetSuite’s expense allocation features streamline the management of expenses:

1. 1. Simple Entry and Allocation: Enter expenses without initially assigning them to specific classes, departments, or locations. Allocate them based on weighted formulas and use allocation schedules either as needed or periodically.
      
      
   2. Dashboard Alerts: Receive reminders for active allocation schedules and process them efficiently. Create journal entries for all schedules with a single click.

Manage amortization efficiently with these features:

1. Automatic Amortization: Automatically amortize expenses over time, simplifying the management of prepaid expenses.
   
   
2. Job-Linking: Link amortization schedules to jobs to distribute expenses according to the job’s completion percentage.

Track non-financial data and allocate financial activity proportionately:

1. Non-Financial Data: Record essential non-financial metrics like headcount and floor space.
   
   
2. Proportional Allocation: Allocate financial activities, such as overhead costs and rent expenses, based on metrics like headcount and square footage.
   
   
3. Multiple Schedules: Run several allocation schedules in a specific sequence for better management.
   
   
4. Dashboard Integration: Add important non-financial measures to your dashboard for enhanced visibility.