NetSuite Advanced Financials

Budget management 

One of the key features of NetSuite's advanced financials, budget management, provides a way to contrast your budget statement with your actual spending. Alongside this, it facilitates the ease of comparing multiple budgets and creating new budgets from existing ones. As life unfolds, this allows you to adjust your budget as needed, all while tracking your actual spending in real-time.

Allocation, Amortization, & Statistical Accounts

Save time and let your team focus on the work that truly matters. By automating expense distribution and allocation, the finance team can focus on improving efficiency and saving costs.  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, enabling you to amortize expenses in proportion to the percentage 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, as determined by customer review.

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 provide a clearer picture of future finances, allowing 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 enables easy self-service capabilities to edit their own billing plans, payment methods, and demographic information.