NetSuite User - Ease of Multi-currency management
November 26, 2019

NetSuite User - Ease of Multi-currency management

Anonymous | TrustRadius Reviewer
Score 8 out of 10
Vetted Review
Verified User

Software Version

NetSuite Financials

Modules Used

  • AdvancedFinancials
  • Recurring Billing
  • Revenue Recognition

Overall Satisfaction with NetSuite

The entire Finance department is using NetSuite. We use this in conjunction with Adaptive Insights for all our financial reporting. We use the software as our statement of record in all things finance related. All journal entries are posted in Netsuite. During the monthly close, we integrate the financial data from Netsuite into Adaptive to generate our P&Ls that are distributed to all the business managers within our organization.

Pros

  • Customized searches.
  • Fixed Asset Module.
  • Ease of access through a web browser.

Cons

  • Easier report searches.
  • The budget module is too cumbersome. I have manually delete each department element.
  • Need a better layout for vendor management.
  • Batch processing allows ease of approving entries.
  • Ease of management multi-currency entities.
  • Ease of integration with Adaptive Insights
Not yet, but I'm interested in Oracle user groups - MS Dynamics - GP. The value I get from the user group is a quarterly meetup that allows me to network with other GP users and also provide tutorials in best business practices. I would love to join an Oracle user group to take classes in PL/SQL and other Oracle products.
NetSuite is a massive enterprise-grade ERP system that expertly manages a global organization's financials. My organization has offices in many different countries, and NetSuite provides a superior infrastructure that manages multi-currency journal entries with ease and also consolidates all the foreign entities for a birds-eye view for reporting.
NetSuite is very good at adding transaction types. It is not very good at ad-hoc P&L generation. Since our company has a lot of Pro Forma adjustments, NetSuite is not equipped to handle that type of scenario. Also, there are a lot of incorrect entries that can be deterred if we can easily turn off access to certain department-entity combinations.

NetSuite ERP Feature Ratings

Accounts payable
9
Accounts receivable
9
Global Financial Support
9
Primary and Secondary Ledgers
9
Journals and Reconciliations
9
Configurable Accounting
9
Standardized Processes
9
Billing Management
9
Cash and Asset Management
9
Travel & Expense Management
9
Budgetary Control & Encumbrance Accounting
9
Period Close
9
Pricing
9
Order entry
9
Credit card processing
9
Cost of goods sold
9
Dashboards
9
Standard reports
9
Custom reports
10
API for custom integration
9
Plug-ins
9
Role-based user permissions
9
Single sign-on capability
9
Project Costing
9
Cost Capture
9
Capital Project Management
9
Project Revenue Recognition
9
Not Rated

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