What is NetSuite Planning and Budgeting Cloud Service?
NetSuite Planning and Budgeting (PB) allows you to quickly adoption a world-class financial planning and budgeting solution across lines of businesses with flexible deployment options. It facilitates
both company-wide and departmental financial planning with modeling capabilities, approval workflows, and reporting within one collaborative scalable solution. Using a powerful calculation engine, it can
accommodate a wide range of business logic with fast in-memory aggregation and instant financial planning analysis and reporting.
NetSuite PB is available in two unique editions, offering a level of functionality, pricing, and deployment speed for businesses in different stages of organization growth. Standard Edition includes Financial
Reporting, Variance Analysis and Reporting, Trended Revenue/COGS Planning, Trended OpEx Planning, and Balance Sheet and Cash Flow.
Standard Edition also provides some significant improvements in Balance Sheet functionality:
1) Standard Edition provides a more automated setup. You no longer have to maintain the retained earnings income plug.
2) You can automatically handle if transactions are booked to the retained earnings account. Previously, the monthly rollover/accumulation went into the same account. Adjustments are now separated from
other retained earnings transactions.
3) In multiple subsidiary situations employing multi-currency, it required extra effort to compute CTA. That functionality now comes automatically. Another piece of this currency-related enhancement includes
better support for “CTA.”
4) 600-700% performance improvement on the Balance Sheet calculation engine - many thanks to our CEO, Alex Ladd!
5) The currency dimension build can now be automated as applied to both the income statement and balance sheet.
Contact MindStream Analytics
If you are having trouble balancing your Balance Sheet in NetSuite Planning and Budgeting, we can help – contact MindStream Analytics today!