Name: NetSuite Accounting
Rating: 3.8 (27 reviews)

NetSuite Accounting Overview

NetSuite cloud accounting software simplifies recording transactions, managing payables and receivables, and closing the books. It provides real-time access to centralized financial data for tracking performance and resolving issues. The system automates routine tasks like journal entries, account reconciliations, and variance analysis. Capabilities include general ledger management, tax handling for domestic and global operations, and compliance with standards such as GAAP, IFRS, ASC 606, and SOX.

More About NetSuite Accounting

General Ledger with flexibility, visibility, richer reporting, enhanced audit trails, and customizable account types
Tax Management for domestic and global taxes including GST, VAT, with real-time line-item analysis
Close Management automating journal entries, reconciliations, variance analysis, and intercompany transactions
Accounts Receivable maintaining invoices, receipts, cash sales, payments, and customer records
Accounts Payable tracking purchases, bills, vendors, and payee records
AI-assisted account reconciliation matching transactions across channels and feeds

Pros & Cons

Pros:

Seamlessly integrates core accounting with ERP modules for inventory, order, and CRM management

Provides real-time dashboards and advanced analytics for financial metrics and performance tracking

Automates routine tasks to accelerate financial close and support compliance requirements

Handles multi-subsidiary operations with support for multiple tax schedules and calendars

Cons:

Requires enabling certain features like Dynamic Allocation or Statistical Accounts that cannot be disabled afterward

Depends on Multi-Book Accounting for advanced period close and revenue management capabilities

Involves setup for multidimensional chart of accounts and custom segments to meet unique requirements

Software Trial

0 Days

Free Version

Licensing Type

Proprietary

NetSuite Accounting Starting Price

Free

Vendor Pricing Page

See Pricing