How to analyze my SO vs PO profit in NetSuite? With NetSuite save search function, you can create a listing report to calculate the profit of each back order against the purchases. Pre-requisite, you need to ensure that following features is available and setup correctly. DROP SHIPMENTS & SPECIAL ORDERS You need to enable this feature in your NetSuite account. Setup > Company > Enable Features, Items & Inventory tab. Tick the Drop Shipment & Special Orders checkbox. By enabling this feature, you now have the ability to create Purchase Order directly from the Sales Order. You will see an "Drop Ship Spec. Ord." link in your Sales Order line. You can click on the link to create Purchase Order, with this NetSuite will automatically link the Purchase Order with the Sales Order. By creating Purchase Order from your Sales Order, now you can create a saved search to compare the selling price and purchase price, so you get your profit margin for each Sales Order. #netsuite #erpsoftware #dropshipping #backorder #profitmargin
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Having difficulties to review new vendor applications across the subsidiary? Is a common challenges for group of companies CFO or MD to review and ensure all subsidiary new vendor applications are following the company SOP. This process is always tedious but important, is a SOP to ensure all registered vendor are compliance to the company policy to ensure vendor deliver quality services and company can deliver the same to the customer. But using manual this process is complicated and always taking long times to process, and sometimes few of the process could be overlooked and causing losses to the company. Using Accounting system or off shelf ERP system, this process may need to manually monitor and only create the vendor after it is approved by management. In some, this may cost customization fees. When company changing the SOP, this customization fees involve again. With #NetSuite #workflowautomation or #suiteflow features, user can configure the workflow according to the needs of the company, and Always re-configure according to the expansion of business or change in the SOP. #NetSuite is flexible enough to allow user to set the condition for the approval flow anytime needed rather than paying for customization fees unnecessary.
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