Global Accounting & Consolidation
Run a Global Business with Ease
Running a global business has never been easier with NetSuite’s powerful financial engine. Businesses can consolidate both at the subsidiary and parent entity level in an effortless manner. NetSuite provides unprecedented “close to disclose” capabilities that accelerate close time, maximize transparency and ensure compliance. Get unparalleled visibility of your business worldwide in real-time ensuring timely, consistent and compliant management across the organization, locally and globally. Additionally, NetSuite provides a multi-language user interface that helps bridge communication barriers and provides a flexible hierarchy that allows businesses to run their entire entity structure with ease.
Features
Multi-Currency Management
NetSuite multi-currency management supports 190+ currencies and exchange rates enabling you to do business with both customers and vendors globally as well as a wide variety of payment options. It provides real-time currency conversion and financial consolidation for all your global operations. With NetSuite, you can completely manage an international business by restating currencies and consolidating financial reporting across business units.
Audit and Compliance Reporting
The NetSuite GRC solution ensures that you are in compliance with international IT and security standards and can adapt to new frameworks as they become relevant. NetSuite GRC streamlines the documentation of you IT systems, resources, risks and controls, defines and manages periodic risk assessments, accumulates incidents, analyzes and manages business continuity and provides additional insight with the reports, KPI’s and dashboards.
Key Capabilities
- Electronic audit is now common practice in many countries for both external auditors and Government tax auditors. NetSuite supports audit files formats for SAF-T (all OECD countries), GDPdU (Germany), IAF for Singapore and many more.
- Always-on audit trail, built-in analytics, access logs and workflow.
- Full drill-down from summary reports to underlying transaction detail provides transparency to aid demonstration of on-going compliance with local statutory and regulatory requirements.
- One system architecture simplifies Sarbanes-Oxley (SOX) and similar compliance obligations by helping ensure standardization and consistent reporting across your business operations.
Comprehensive Multi-Language Support
Translated in 19 languages including Chinese, Japanese, French, German and many more, NetSuite OneWorld enables each employee to select his or her language of choice. In addition, NetSuite OneWorld provides a multi-language user-interface that helps bridge communication barriers and provides a flexible hierarchy that allows businesses to run their entire entity structure with ease.
Configurable Tax Engine
NetSuite OneWorld has a built-in tax engine that is configurable to your specific business needs.
Key Capabilities
- Out-of-the-Cloud pre-configuration of tax codes and localized reporting for over 50 countries.
- Flexible indirect tax engine automates calculation of Canadian HST, Mexican IVA, German Mwst, Philippines VAT, Australian GST and more.
- Cross border sales and Intrastat reporting across all 27 EU countries, including online capabilities for many countries.
