If you need multicurrency, don't use this program!
April 29, 2016

If you need multicurrency, don't use this program!

Amy Tower | TrustRadius Reviewer
Score 1 out of 10
Vetted Review
Verified User

Software Version


Modules Used

  • AdvancedFinancials
  • Work Orders and Assemblies
  • E-Commerce

Overall Satisfaction with NetSuite

This program is being used across our business. For financial reporting, CRM, shipping, retail website and e commerce etc. We needed something that would take care of our financial reporting, shipping, eCommerce and customer service needs. This software looked like it could do the job.
  • You can drill down into most reports.
  • It's cloud based.
  • Customer service is readily available.
  • Multicurency should be avoided. Some transactions are recorded with the fx as of the date of recording, not the transaction date, like anything recorded off a bank reconciliation. Others like credit notes will have the fx calculated as of the date of the invoice or return authorization instead of the date created. I have seen invoices affected as well.
  • Some currency revaluations, like those related to credit notes are not picked up correctly by aging reports. So, they will show balances for accounts denominated in anything other than home currency, when there is a zero balance. The aging report will not match the trial balance.
  • Support will give work arounds that do not actually solve the error. For example, deleting transactions and recording them a second time sometimes in a different fashion, like deleting a cheque transaction from a bank reconciliation and recording a journal entry. Adding work and time.
  • Multi currency cannot be turned off once it is on. Since it is done so badly one has any idea if individual accounts are over or understated due to errors in f/x applied to underlying transactions.
  • It has made tracking clients and their habits much easier.
  • Their lack of audit tracking is a definite issue when dealing with government auditors.
  • SAP
SAP was much more reliable. I never had doubts about data integrity. NetSuite was chosen in this instance as a step up from a small enterprise bookkeeping system to something that would offer CRM and eCommerce capabilities.
Do not use multi currency.

NetSuite ERP Feature Ratings

Accounts payable
Accounts receivable
Inventory tracking
Automatic reordering
Not Rated
Location management
Not Rated
Order entry
Credit card processing
Cost of goods sold
Not Rated
Pay calculation
Not Rated
Benefit plan administration
Not Rated
Direct deposit files
Not Rated
Standard reports
Custom reports
API for custom integration
Not Rated
Role-based user permissions
Single sign-on capability
Not Rated