Monitor cash flow
NetSuite Release 2022.1 includes the NetSuite Cash 360 dashboard which enables you to effectively manage your cash flow by getting a real-time view of your cash position and generate fast and accurate near-term cash flow forecasts. Its configurable dashboard allows you to monitor payables, receivables, and available cash by combining multiple data points:
- New funding sources
- Planned expenditures
- Billing schedules
- Sales forecasts
You can review cash flow trends, run a rolling six-month cash flow forecast, what-if scenarios, and see cash inflows and outflows based on historical averages from customer data to estimate projected collections and disbursements.
Simplify intercompany accounting
We know how complicated reconciling intercompany transactions can be, especially when your company has to go through thousands of them daily. NetSuite provides automation by adding the ability to automatically pair vendor invoices with credit memos and bill credits.
Easily process customer payments
Manual processes for pricing and billing are overwhelming, especially when customers need to process payments quickly and accurately at different times of the month. The bulk customer payment feature allows payments to be grouped and processed from multiple customers or customer groups in one step, saving time and productivity.
In NetSuite Release 2022.1, we have new, customizable invoice presentation templates that allow you to configure the line-item format that each client or project requires. Clients have all the information they need to process invoices, allowing for quicker approvals and payments.
Automate labor expense allocation
It can be difficult to keep track of all your payroll costs and distribute them accordingly. The NetSuite NFP Labor Expense Allocation SuiteApp allows not-for-profit organizations to allocate payroll costs, including salary and fringe benefits, to the benefiting program, project, or grant segments. You can either allocate labor expense by employee rates or employee pay transactions.
This feature is now available to all NetSuite SuiteApp users. It will work well with software companies, as they can allocate personnel costs to specific programs or projects that incurred the expense.