Accounting

Learn About the Benefits of Multidimensional Accounting

Generating financial statements is a routine part of the close process, but standard financial reports cannot always provide sufficient explanations for the numbers. Getting that information can be difficult or even impossible. Often, the problem is in the chart of accounts, which provides a framework for organizing financial data in the general ledger (GL). Problems …

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3 Steps to Simplifying Sales Tax Collection for US Businesses

Making sense of U.S. sales and use taxes can be difficult. That’s because, unlike most countries, the United States doesn’t have a national sales tax. So, there isn’t a standard rate that can be applied consistently to every sale. Rates are set at the state level instead, and with little coordination between state legislatures, they …

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SuiteAnalytics Solves Multi-Application Data Challenges

As data becomes more and more important to business decisions, having real-time, easy-to-read data at your fingertips is crucial. Even if you utilize an ERP system, uncovering insights about the business and then properly visualizing the data in a meaningful way can be a challenge even for the best of business analysts. The SuiteAnalytics Workbook …

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2020 Payroll Updates and Other Tax Developments

As you begin the new year, we would like to remind you of a number of important business changes that have been implemented by Congress, the Internal Revenue Service, and other authorities for calendar year 2020. We hope that you will find this information helpful. Please view our 1-20 Payroll Tax Alert for complete information.

Fine Tune Your Budgeting and Planning Processes for the New Year

Unlike accountants who are in charge of recordkeeping, financial analysts are charged with examining, analyzing and evaluating the entirety of a corporation’s financial activities and mapping out the company’s financial future. These professionals are under constant pressure to provide more strategic value and insights for their organizations. Read this NetSuite blog post to learn how …

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Use NetSuite Tools to Achieve More Efficient Planning & Budgeting

Finance teams have a lot on their to do lists at year end and, frequently, their most difficult challenge is annual planning and budgeting. At many companies, this process takes too long and devours resources. Finance teams spend more time on administrative tasks relating to these processes – collecting, consolidating and reconciling data – and …

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ASU 2018-15 Simplifies Accounting for Cloud Computing Expenses

As cloud computing became more popular, businesses took different approaches to how they accounted for it on their financial statements. But, as the percentage of businesses using cloud products increased, the FASB and other standard setters realized that the “diversity” in practice was growing too large, and began to issue regulations to clarify the process …

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Businesses Need to Analyze Data in Real Time

SuiteAnalytics is an out-of-the-box analytics offering NetSuite provides for embedded business intelligence. Joav Bally – Oracle NetSuite’s VP of Product Management and Engineering, SuiteAnalytics – explains why this type of tool is essential for all businesses. Read the NetSuite blog post for more details about Episode 28, which discusses the importance of analyzing data in a timely manner …

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Applying For-Profit Accounting Principles to Non-Profit Organizations

At the SuiteWorld19 conference, Chris Whitfield, CFO of MANA Nutrition, talked about how he uses his background in for-profit companies at his newest position in the not-for-profit industry. He stressed that the organizations have more in common than one might assume, and those similarities offer non-profit finance professionals an opportunity to apply more for-profit principles …

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