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Companies with multiple subsidiaries often need to handle transactions between these entities. For instance, a subsidiary in Canada may need to supply inventory to its U.S. counterpart. These intercompany transactions can become complex and expensive, particularly for companies experiencing growth through acquisitions. Newly acquired subsidiaries may have different invoicing systems, payment methods, and accounting processes….
Welcome back, NetSuite Newbies! In Part 1, we covered the basics of accessing and running pre-built reports in NetSuite. Now, let’s take it up a notch and dive into more advanced customization options and some pro tips to make your reports shine. Why Customize Financial Reports? Customizations are like customizing your coffee order. Sure, a…
Hey there, NetSuite newbie! If you’ve ever felt lost trying to navigate the maze of financial reporting in NetSuite, you’re not alone. So today, we’ll be breaking it down step-by-step, with a sprinkle of and real-life examples to keep things interesting. Let’s dive into the basics of generating and customizing financial reports in NetSuite. Why…
The financial sector has long been a bellwether for broader economic and technological trends, but never has this been more evident than in the contemporary milieu. As digital transformation accelerates and geopolitical landscapes shift, the convergence of innovation and regulation has taken center stage. Through this lens, our understanding of the financial world evolves from…
In a world historically grounded in the trusted expertise of accountants, an alarming trend emerges: a growing exodus from the traditional pillars of finance. Over the last two years, the U.S. has seen a 17% reduction in accountants and auditors, with over 300,000 professionals departing from their roles. A shift not only influenced by retiring…
In recent years, the Environmental, Social, and Governance (ESG) movement has evolved from a niche concern into a central pillar of modern business strategy. It has captured the attention of investors, businesses, and regulators alike. Multiple sources and credible financial reporting organizations have shed light on the complexities and controversies surrounding ESG, and we will…
The talent shortage isn’t abating. One coping strategy: Increase your team’s output. If you’re a CFO or senior leader in finance, you’re likely spending a lot of time these days figuring out how to make the most of the human and technology resources you have available. You’re not alone. Purse strings have tightened, and CEOs…
Dread the month’s end? Our three-stage strategy dispels the gloom 3 Steps to Close the Books in 5 Days or Less For finance teams, speeding the monthly close and reporting process has been a priority for years — a priority that most never quite get to. Despite its acknowledged importance, many companies still struggle to…
Dashboards and key performance metrics (KPIs) provide a real-time view of your business and are critical components of the NetSuite user experience. A well-designed dashboard can keep you up-to-date and on task. These tips will help optimize your use of dashboards and KPIs so that employees can act on the job tasks that are most…
With Better Visibility Into the Connection Between Inventory and Financials, CFOs Can Increase Profitability Any finance professional working at a products-based company knows that, along with investments, inventory represents one of its biggest assets. The problem is that CFOs and controllers often lack a way to easily view and monitor the relationship between inventory and…
