“NetSuite typically allows for preferential pricing based on factors such as term/duration of use, additional modules chosen, and amount of user licenses. The Three to five years plan may appear more expensive in the short term, but is actually much more cost-effective, after all, statistically an ERP is an 8 to 10 years investment”Read More →
If dealing with an annual audit feels like inviting an unwanted relative to your Thanksgiving dinner, then these simple NetSuite practices will help you keep your auditors satisfied.
It is very common for businesses to invoice on a billing schedule for customers placing large orders, which might result in different amounts being recognized as accounting revenue within a given period.Read More →
What’s NetSuite Contract Renewal Module?
Just as with any other aspect of business, it is important to have good practices in how you manage renewable contracts. This is the dream but in reality, it can be a total nightmare. Especially when it comes calculating the renewal terms and what services are renewable and what are non-renewable. What can be worse than this? Oh wait, how about forgetting your customer’s contract expired a month ago!Read More →
Contacting NetSuite Support is one way to resolve problems or get answers to day-to-day questions. However, it’s not the only way to get help when you find yourself stuck with NetSuite CRM or ERP system issues. There are a number of resources out there to learn, in detail, how a feature works and get new ideas on how to better leverage NetSuite. Here are 7 ways you can get additional NetSuite support help:Read More →
If your organization works with projects or offers consulting services and charges clients an hourly rate, then the phrase ‘time is money’ really means something to you, and this article will be of great interest to you.
Organizations like yours need a time tracking strategy for tasks, ranging from calculating the cost of time and material projects and following up on the training time employees are investing in to tracking the profitability of your projects.
PURPOSE OF NETSUITE 1099 MISC REPORTING
In general, payments made to non-employees/independent contractors in excess of $600 within a calendar year must be reported to the IRS. This is done by filing a 1099-MISC form. If a business needs to file more than 250 forms, they are required to electronically file with the IRS. Depending on the state in which the work was performed, separate filing could also be required at the state level.Read More →
It’s less costly to properly maintain the ERP system that you have, than to get to a point where you have to start again.Read More →
Large public companies, most notably Verizon and Workday, have been preparing for what has been considered one of the most historic accounting changes to hit the market in decades (Forbes), NetSuite ASC 606/IFRS 15. Verizon has been preparing for this transition over the last 3 years. Workday has a dedicated team of accountants reviewing all their contracts and making adjustments to their financial statements.Read More →
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A good Barbershop/stylist is something everyone needs - with SO MUCH choice you'd think that it's easy to find a solid performer, yet so few are able to actually perform the art of styling your hair the way you want it. You find yourself driving across town to your favorite stylist that knows the craft and your preferences well, they also know your birthday, give you coffee while you wait and have beyond belief customer service. Yes - I just compared a NetSuite Consulting Shop to a Barbershop, simply because the barrier to entry is equally low, the market is packed with "experts" and it's also packed with equally pissed off clients that are yet to find their ERP software go-to barber. So here's how you should strictly vet the right-fit ERP software consulting shop to save money, jobs, increase adoption and have an awesome partner relationship. Make sure:Read More →
With companies transitioning to NetSuite ASC 606/IFRS 15 accounting software standards, NetSuite will have to accommodate both the new and old accounting standards in the system for existing customers who are in the midst of transitioning.Read More →