Andy Hill, PE, CPA’s Post

Say goodbye to return headaches with the game-changing NetSuite feature, which is #netsuitereturnauthorization. It ultimately makes returns management less taxing and more efficient. Read the article to learn how this software streamlines the process, prevents warehouse backlogs, and boosts efficiency. #returnsmanagement #netsuitereturnmaterialauthorization

Need to receive an order now and bill later? ⬇️ The NetSuite Advanced Receiving feature gives you that option. In the article, you'll learn how to . . . ➡️ Set up Advanced Receiving ➡️ Receive orders with Advanced Receiving ➡️ Bill orders with Advanced Receiving Be sure to follow SuiteRep to keep growing in foundational NetSuite knowledge. #netsuite #procuretopay #suiterep

Which method do you utilize in NetSuite to post vendor bill variances? NetSuite has a native solution that’s simple to use as long as you know how to troubleshoot/avoid a few scenarios. There are two primary options for posting variances: 1) when PO is billed/closed and 2) when vendor bill is entered.  Option 1 is used when "Match Bill to Receipt" is unchecked and is simpler to manage. Option 2 has a couple potential pitfalls if you aren't managing your transactions correctly, but it will post the variance quicker if there are PO’s open for long durations & multiple receipts/bills. If using the “Match Bill to Receipt” functionality (option 2), make sure to avoid these traps: 1)    Ensure that vendor bills are not entered prior to receipts.  If a deposit is required prior to receipt, it should utilize the vendor prepayment transaction type and not be entered as a vendor bill. 2)    Ensure that PO lines are not manually closed after receipt has been entered. Both scenarios will prevent NetSuite from identifying lines for posting vendor bill variances. Last recommendation: make sure “posting vendor bill variances” is included on your period close procedures. Meridian Business LLC

As we approach the end of Q4, an exciting opportunity awaits! 🚪💼 Still have budget left to spend? Don't miss out on maximizing its long-term impact. Here are some savvy ideas to make the most of it... #BestSuiteWins NetSuite #budgetallocation #budgetingtips #fieldservicemanagement #manufacturing #distribution

Do you know about NetSuite Advanced Receiving? 👇 Check out this SuiteRep article to learn more about it and how you can take advantage of it in your business. #netsuite #suiterep #receiving

Tips to Streamline the Order-to-Cash Workflow in NetSuite 📽️ https://lnkd.in/dYqBXbkn In this video, we explore the Order to Cash (O2C) Process. #NetSuite offers built-in order functionality to streamline #O2Cworkflows and foster sustainable growth in the following ways: 1️⃣ Streamlining Processing and Tracking: NetSuite enables you to streamline processing and tracking, providing automated client updates on order status in real-time. 2️⃣ Seamless Integration: The software seamlessly integrates with inventory and shipping modules to ensure efficient order fulfillment, minimizing stockouts and enhancing order accuracy for a professional customer experience. 3️⃣ Digital Invoices: NetSuite generates digital invoices, reducing the risk of errors and delays in invoicing processes. 4️⃣ Automated Payment Reminders: The software automates payment reminders, expediting cash collection and improving cash flow management. 5️⃣ Real-time Visibility: NetSuite provides real-time visibility into payment statuses, empowering your accounting team to take swift action on unpaid accounts and facilitating accurate reconciliations. Partnering with a CPA for a NetSuite setup tailored to your business needs can help mitigate compliance and data accuracy challenges. Our team of CPAs are all NetSuite certified, bringing a wealth of software expertise to the table. By collaborating with us, you can configure your NetSuite setup to align with your specific requirements. Let's configure NetSuite to fit you perfectly - https://lnkd.in/dB8i7zTi 📞

FEATURED INTEGRATION: NETSUITE Are you a NetSuite user looking to automate your accounts receivable process? Discover why others are choosing Payference for their AR automation needs! ✨ Why Payference? 1️⃣ Seamless Integration: Payference was designed specifically for NetSuite users, ensuring a smooth and rapid setup—typically completed within hours. Best of all, no IT department involvement is required! 2️⃣ User-Friendly: Our platform is intuitive and easy to use, with a minimal learning curve. Customers are consistently amazed at how simple and straightforward our solution is. 3️⃣ Unmatched Flexibility: Payference offers the flexibility you need to handle any AR-related process, including collections, cash application, cash basis reporting, and even setting up a self-service payment portal for your customers. Ready to streamline your AR processes and boost your efficiency with Payference and NetSuite? 👉 Learn more about our NetSuite integration here: https://lnkd.in/gdRHTq9g #NetSuite #AccountsReceivable #ARAutomation #Payference #Integration #netsuiteerp

When is it acceptable to have “unplanned” deferred expense in NetSuite? Unplanned deferred expense is acceptable as long as you understand what it is and can support it. There are two primary use cases for unplanned deferred expense: 1)    Balances that are prepaid and the company truly just doesn’t know when they should be amortized yet. Example:  A company prepaid for a corporate training package that will be used later this year but has not been scheduled yet. 2)    Contracts that have a payment schedule that does not align with the expense recognition. This is most common with insurance or rent contracts that have a balloon payment made up front or in arrears. The amortization schedule should be created at the beginning of the contract (dr. expense w/ amort template, cr. prepaid). Each bill is then coded to the prepaid account (w/o amort template). After all payments have been made, unplanned deferred expense should net to 0.00. Meridian Business LLC

Struggling with posting period visibility on transaction forms in NetSuite? 🗓️ Many users face the challenge of being unable to adjust the posting period on transactions, hindering timely recording and disrupting financial operations. Our latest article, by Thiem Tran dives into the specific permission needed to resolve this issue: "Posting Period on Transactions". Learn how to grant this permission and unlock improved accuracy, flexibility, and reduced administrative overhead for your team. #NetSuite #Finance #Operations #Permissions #ERP #Accounting #ManagedSuccess https://lnkd.in/gtDxpkXB

Planning to migrate your detailed transactions to NetSuite on your own? Here are six key considerations: -Finalize your map structure before starting. -Load in the sandbox first. -Consider foreign exchange impact. -Use journal entries for transaction types that don't correspond to a NetSuite transaction type. -Prioritize applying payments correctly. -Avoid using journals on transactions impacting Accounts Receivable and Accounts Payable. Of course, loading your detailed transactions on your own is a really bad idea. You should hire an expert like OptimalData. Feel free to send me a DM if you are interested in learning more.