Netsuite Day 1

7/28/2019 Netsuite Day 1

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NetSuite Training for the AcademeSeptember 7, 2013

J.A. Tolentino II


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NetSuite Financials

The #1 Cloud Financial Management/ERP Software Application

http://www.netsuite.com/portal/products/netsuite/financials/main.shtml
http://www/http://www/


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Key Benefits

- Comprehensive financials including accounting, budgeting, financial

reporting and more

- Gen instant visibility into real-time financial and operational

performance across your entire company.

- Streamline all back-office processes across financial management,

revenue management, order management, billing and inventorymanagement.

- Improve accountability and compliance with robust, auditable

accounting and powerful reporting.

- Reduce IT costs and get automatic upgrades with an ERP solution

delivered completely in the cloud.- Get secure access to your financials from anywhere- all you need is a

web browser or mobile device.

- Drives efficient integrated processes from order to cash through to

procure to pay.


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Getting Started: Navigate and Application

- Logging in

- Interface Elements

*Portlet

*Center- Setting Portlet

- Personalize Dashboard What would you like to

add?

- User Preferences- Netsuite Terminologies

- Getting Help


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Setting up and Configuring Netsuite

- Enter Company Information

- Enable Features

- Review Chart of Accounts

- Set up accounting periods- Enter Opening Balances


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Set up Company Information

a) Set up Company Information The Company Information page is where anadministrator, or another user with Set Up Company permission, can enter

basic identifying information for an account.

b) Navigate to Setup > Company > Company Information

-Enter your companys Name

- Enter your companys address- Enter your companys EIN( Employer Identification Number with format

88-8888888 for US based companies)

-Enter your phone/fax numbers

-Enter your companys web site, if available

-Upload your company logo for FORMS and PAGES and check the box

Display Logo Internally to show your logo on you Netsuite UI next to

the NetSuite logo on the upper left side.


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Enable Features

a) The Enable Features page is where you turn on or off featuresin Netsuite.

b) You can click the Audit Trail link on this page header to review a

list of changes to enabled features, including the users who

made the changes, dates of the changes, and whether thefeature was enabled or disabled.


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Enable Features

Navigate to Setup > Company > Enable Features

Enable the following features and then click SAVE.

Company tab:

- Departments, Classes, Locations

- Inline editing, File Cabinet

Accounting tab:

- Accounting, A/R, A/P, Accounting Periods


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Enable Features

Transactions tab:

- Sales Order, Purchase Orders

- Advance Shipping, Advanced Receiving, Shipping

Label Integration

- Credit Card Payments

Items & Inventory tab:

- Matrix Items- Inventory Items


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CRM tab:

- Customer Relationship Management

-Marketing Automation

Web Presenence tab:

- Web Site, Web Store

- Customer Access

Enable Features


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Working with the Chart of Accounts

One of the first tasks you need to complete beforeyou can begin managing accounting in NetSuite is

to set up a chart of accounts. Your chart of

accounts provides a set of destinations for posting

transactions, and categorizes these transactionsfor tracking and reporting purposes.

Navigate to Lists > Accounting > Accounts to see

the list of accounts pre-configured in you NetSuite

test account.


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Create a new Shipping Income Account

You can choose whether to use the CSV Import

Assistant to import accounts information, or to create

new account records manually in NetSuite.

Navigate to Lists > Accounting > Accounts > New

- Type = Other Income

-Name = Shipping Income-Save


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Set Up Accounting Periods

The Accounting Periods feature supports general ledger management. Ifaccounting periods are not used, NetSuite transactions post in real time.

When accounting periods are enabled, users can select a past or future

posting period for each transaction, and accounting personnel can more

effectively monitor and control the status of accounts.

Use case:

- A bill for water usage in the month of June was entered in NetSuite on

July 4, 2011. Without Accounting Periods, the bill become part of your

July reports, which may not be the intention of the business. Using

Accounting Periods, users can enter the bill on July 4 but post it to June

2011 since the expense was incurred in the previous month. Reporting is

more accurate.


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Set Up Accounting Periods

Navigate > to Setup > Accounting > Manage AccountingPeriods

- Click the Set Up Year Button

located on the lower right portion

of the user interface.- First fiscal month = January

- Fiscal year end = 2011

- Period format = Calendar Months

- Year in Period Name = Ending Yearof Period

- Save


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Enter Opening Balances

The opening balance for each general ledger

account is the amount in the account when you

first start using it in NetSuite. The date of the

opening balance is included on each accountrecord. Once an opening balance has been

entered for an account, that account can be used

in NetSuite transactions.


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Navigate to Setup > Accounting > Enter Opening Balances.- Select the correct posting period (e.g. Jan 2011)

- Enter a date for the opening balance

- For each account, enter a debit or credit according to the

starting balance, then save

Sample Setup:

- Enter a balance on the DEBIT field for Checking,

500000.00

- Enter a balance on the CREDIT field for Owners Capital,

- SAVE

Note: NetSuite tracks the difference between the opening balances debits and

credits in the Out of Balance By field


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View the Balance Sheet after

entering opening balances

Navigate to Reports > Financial

> Balance Sheet

- As of field should

contain the same

period selected for the

opening balance.


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General Preferences

An administrator, or another user with the Set Up Company

permission, can set company preferences for how information is input

and processed in NetSuite, on the General Preferences page.

Navigate to Set Up> Company > General Preferences

These preferences apply to all users in the account, except for a small

number of preferences that users can override with personal

preferences defined at Home > Set Preferences. These preferences

are listed on the Overriding Preferences subtab of this page, where

you can prohibit overrides by clearing the Allow Override check box.


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Accounting Preferences

NetSuite provides many accounting preferencesthat determine the flow of the accounting

management user interface in your account

Navigate to Setup > Accounting > AccountingPreferences

These preferences should be defined when your

account is first set up. Most of them can be

changed later as well.


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Documents

Netsuite Day 1