NetSuite Planning and Budgeting
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 Planning and Budgeting 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!
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NetSuite SuiteSuccess
NetSuite SuiteSuccess offers a pathway for businesses to succeed by engaging with them continuously throughout their lifecycle. NetSuite delivers a unique set of processes, activities, and systems designed to deliver rapid value. Customers are equipped to make the most of their NetSuite investment quickly and are able to expand towards next-generation solutions to meet changing business needs.