Netsuite Accounting & Bookkeeping Services

 

“We focus on the details so that you don’t have to.”

NETSUITE ACCOUNTING POWERED BY EXPERT BOOKKEEPING, CONTROLLER & ADVISORY SERVICES

NetSuite powers business accounting through a comprehensive suite of accounting software programs. The fully-integrated platform supports your entire operations and is uniquely customizable by your industry and business requirements. But the NetSuite muscle that powers your accounting doesn’t mean you have to find a way to handle it all internally—instead of managing, training, and overseeing an internal accounting department to handle your NetSuite accounting, small and mid-sized businesses nationwide turn to Ledger Labs to outsource their NetSuite-based accounting department to us.

Our NetSuite experts team with professional NetSuite implementation partners to get new NetSuite customers up and running seamlessly. Then our dedicated accounting specialists and controllers take over the day-to-day functions of your accounting department—enabling you to leverage the power of NetSuite without taking on the burden of doing it yourself.

Why NetSuite?

The NetSuite platform integrates all your business data, connecting your accounting, CRM, eCommerce, and additional data sources. This connectivity puts the power of real-time data analytics in your hands, ensuring you can make operational decisions with a clear understanding of your business. It includes everything from inventory and order management to customer relationship management and employee efficiency. You get real-time business intelligence you need.

With the correct setup, NetSuite provides real-time visibility of your company’s financial performance and functioning. This accurate data allows you to solve issues standing in the way of your company’s growth. Our team can help your business:

  • Stabilize your business finances so you can have a smooth migration to NetSuite.
  • Optimize NetSuite to make the most of your data and reports.
  • Provide CFO advisory to make the most of your data when making critical business decisions.
  • Create a tax planning and compliance strategy that will help you save money.
  • Offer on-going accounting support with check-in meetings.

Our services will be customized to help you reach your specific business goals. Reach out to find out how we can change your financial future. 

 

Is NetSuite Worth The Investment?

Implementing NetSuite doesn’t just have a price tag, it is an investment of time as well. Professional NetSuite implementation teams are key to getting up and running successfully. The right combination of implementation experts and accounting services teams are worth the investment vs. the cost savings of trying to DIY NetSuite on your own. From the shorter timelines and efficiencies that come from experience, to overcoming potential obstacles and unforeseen challenges, it is without a doubt a better choice to outsource both your NetSuite implementation and accounting services to ensure you are in the best position to get the most out of your NetSuite programs.

ONE STOP SOLUTION

Netsuite Accounting by Netsuite Specialists

Data Migration from Legacy Systems

We work closely with you on every financial indicator of business.

Setup & Configurations

Get your books arranged and managed as per GAAP.

Accounting & Bookkeeping Maintenance

We Plan, model out and analyze your business performance.

Why Us

end to end solution for your netsuite

Accounting & Bookkeeping

 

Netsuite CFO 

 

Netsuite CONTROLLER

Netsuite ADMIN

SERVICE BENEFIT

Netsuite Accounting Modules we Work with

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Agile team

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Clean code

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SERVICE BENEFIT

Netsuite Accounting Modules which can help you

The General Ledger is the core of every accounting system and must be dynamic, flexible, scalable and unconstrained by rigid code-block structures. It must empower real-time financial intelligence and embed operational efficiencies, such as faster reconciliations and closing of the books.

NetSuite ERP includes SuiteGL, a cloud-based general ledger that outperforms your typical one-size-fits- all GL. NetSuite General Ledger gives finance departments more flexibility in their accounting software with new customization features. 

What NetSuite’s Modern General Ledger Does For Your Business: 

  • Lets users add custom GL impact lines to transactions such as invoices or vendor bills across single or multiple accounting bookseliminating the need for manual journal entries 
  • Allows Finance teams to define unlimited custom General Ledger segments such as profit center, fund, program, product line and more, in addition to the standard subsidiary, class, department and location segments.  
  • NetSuite’s Multi-Book accounting capabilities eliminate data entry replication and reduce the need for error-prone manual adjustments to your accounting and reporting processes that are created when managing unique sets of books per accounting standard.  
  •  Using pre-built mapping capabilities between your primary and secondary chart of accounts, as well as book specific functional currencies, the NetSuite Multi-Book engine can record all book-specific activity based on a single business transaction from the General Ledger, revenue recognition, expense amortization, depreciation, P&L allocations and more. 

Improve liquidity, mitigate funding gaps, realize higher profits and ensure compliance by leveraging NetSuite’s Accounts Payable solution that automates the processing and payment of invoices.

What NetSuite’s Accounts Payable Solution Can Do For Your Business 

  • Automate the calculation of discounts and eliminate manual data entry and associated errors and minimize the time and effort it takes to process bills from vendors. 
  • Simplify and automate exception processing when invoices do not match purchase orders or receipts. 
  • Improve payment controls, no bill is lost, forgotten or paid twice and no fraudulent invoices are paid with real-time visibility throughout the A/P process. 
  • Retrieve bills, item receipts, vendor contracts that are attached to each vendor and/or individual AP transaction and improve reconciliation, streamline accrual processes and produce more-accurate financial statements. 
  • Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions.

Gain added liquidity to fund growth, shorten the credit-to-cash cycle, enhance service levels and seize new investment opportunities as they arise with NetSuite’s Accounts Receivable solution. Bring your collections processes into 2020 with an end-to-end AR experience for automating and streamlining every aspect of invoice delivery, credit terms and collections management.

What NetSuite’s NEW Accounts Receivable Can Do For Your Business:  

  • Streamline operations and instill corporate and fiscal discipline by automating the retrieval and presentation of billing information from diverse sources. 
  • Generate recurring invoices for easy subscription management and send invoices by email and offer even more payment options. 
  • Automatically post order transactions to general and AR ledgers with accurate tax calculations on each invoice for automated tax processing and billing. 
  • Provide customers with self-service access to real-time information relating to purchase orders, inventory and payment information. 
  • Get the insights you need—configurable dashboards, reports and KPI’s provide a real-time view into customer aging, invoice analyses, recurring invoices, deferred revenue, exception reports to flag account anomalies. 
  • Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions. 

Let’s be honest: you want to make it easy for customers to do business with you by accepting a variety of payments, while still managing your finances.</span></span></span></span><span data-contrast=”noneclass=”TextRun SCXO204702141 BCX0xml:lang=”EN-USlang=”EN-USstyle=”color: #000000;“><span class=”NormalTextRun SCXO204702141 BCX0“><span data-contrast=”noneclass=”TextRun SCXO101545216 BCX0xml:lang=”EN-USlang=”EN-US“><span class=”NormalTextRun SCXO101545216 BCX0“>Simplify your operations with a single system and single set of records for all payment processing.

NetSuite’s platform offers several payment processing options to capture funds and disburse payments. Easily connect your accounts receivable and accounts payable processes with third-party payment systems, processors, and financial institutions to collect funds and make payments. NetSuite handles processing activities including invoice payments from accounts payable, settlements against credit card accounts and bank accounts for accounts receivable, and bank account transfers. This automation and consistency streamlines your business. In turn, you’ll notice your payments are made on time efficiently and your books are always accurate, updated in real time. 

 What NetSuite’s Electronic Payment Solutions Can Do For Your Business:  

  • EFT (Electronic Funds Transfer)
    Allow customers to authorize the transfer of funds from their bank accounts to your bank accounts to pay their invoices for simplified payment processing. 
  • Customer Credit Card Processing
    NetSuite’s end-to-end credit card processing efficiently handles credit card payments for both sales orders and website orders.
  • Online Bill Pay
    Make payments without manually printing, signing, and sending checks.
  • Google Checkout
    Use Google Checkout to capture funds when processing orders from your webstore. Offering Google Checkout is offering a simple payment method to your customers.
  • Direct Deposit for Payroll
    Use the direct deposit feature to disburse payroll funds directly to employees’ bank accounts.
  • PayPal Express Checkout
    Make PayPal an option for your customers. Use PayPal Express Checkout to capture funds if you process orders from a webstore.
  • Electronic Payments
    NetSuite Electronic Payments is freely available to all NetSuite customers. This module provides electronic banking functionality including ACH, EFT payments, direct debit collections, check fraud prevention with Positive Pay, and more.
  • ACH Processing
    ACH (Automated Clearing House) smoothly processes financial transactions through the ACH Network for fast, reliable funds capture and disbursement.

NetSuite’s configurable tax engine provides end-to-end domestic and global tax management through one simple, easy-to-use system that generates detailed reports analyzing transactions down to line item tax details in real-time. The NetSuite tax management solution streamlines the global tax compliance process, saving time, reducing costs and errors. NetSuite supports every known global currency and exchange rate and allows accounting departments to process taxes in accordance with country-specific laws.

What NetSuite’s Tax Engine Will Do For Your Business: 

  • Supports tax calculations at multiple global levels and locations for over 50 countries and multiple currencies. 
  • Flexible tax engine automates calculation of Canadian HST, Mexican IVA, German Mwst, Philippines VAT, Australian GST and more. 
  • Cross border sales and Intrastate reporting across all EU countries, including online capabilities. 
  • Handle local taxes across subsidiaries that allows for multiple tax schedules for everything from GST to VAT, to consumption tax or general sales tax. 
  • The right rate is automatically applied to every transaction every time. 
  • Offers SuiteTax API enabling select third party tax solutions to easily integrate with NetSuite. 
  • Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions. 

NetSuite Fixed Asset Management provides you with the power to eliminate spreadsheets and manual effort from your company’s asset management processes. NetSuite’s complete and integrated solution gives you an easy-to-manage single version of the truth for your assets, a flexible fixed asset calculation engine, complete asset reporting and seamless integration with NetSuite’s core accounting functionality.

What NetSuite’s Fixed Asset Management Can Do For Your Business:  

  • Manage the complete asset lifecycle and easily report on all fixed assets and easily track depreciating or non-depreciating company assets. 
  • Completely integrate asset management with accounting and eliminate manual effort and multiple spreadsheets. 
  • Leverage support for all standard depreciation methods and create and customize unlimited depreciation methods as needed. 
  • Depreciation and asset retirements are directly posted to NetSuite accounts which allows you to comprehensively report across assets, valuation and depreciation. 

NetSuite’s Cash Management solution enables treasury groups to be more strategic than ever before and focus on scaling the treasury organization by providing a complete view of the company’s money flows and cash position. NetSuite’s Cash Management provides your finance team the visibility and reporting they need to optimize cash, control bank accounts, manage liquidity and deliver compliance.

With NetSuite’s Cash Management solution, you can… 

  • Access a complete solution for addressing critical planning, processing and reporting requirements of global treasury units. 
  • Gain real-time insight into global transactions across bank accounts and credit cards. 
  • Manage cash across global locations and entities in real-time. 
  • Monitor and forecast cash requirements, perform automated bank reconciliations, distribute payments efficiently and securely and automatically generate accounting entries. 
  • Access the SuiteApps marketplace where hundreds of innovative third-party solutions that help integrate and extend NetSuite with industry-specific solutions. 
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Develop your digital product

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Scale your business

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Boost your resources

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technologically advanced accounting firm

Some Integrations We Deal with

Benefits of Netsuite Accounting

Reduce time to Close

Improve Quality of Financial Reporting

Correct Landed Costs & Inventory Valuation

Integrations to streamline Data management

All in One Accounting

Much better Internal Controls

Accurate AP/AR Management

Customized Workflows as per Company process

Get your finances sorted

Get An Industry Specific Custom Proposal & Consultation

Schedule a Consultation with our Co-Founder Gaurev Jane. You’ll see the performance metrics you should be tracking and get an expert opinion on what you should do next.

 

Always Included: 

  • Expert, Outside Perspective on Your Goals & Position

  • A Roadmap to a Thriving Organization

  • Estimated Price Range 

Never Included:

  • High-Pressure Sales

  • Endless Followup

  • Generic “Financial-Speak”

 

 

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What They’re Saying

Customer Testimonials

It was such a pleasure to work with Gaurev & team! He brought our business to a new, more mature level now that we have our books set up. What I really liked about working with Gaurev were his patience and willingness to educate us along the way. In doing that he opened the door for us to have a stronger business and clearer picture of where the business’ finances stood.

John Farrell

Owner, Dacasso, Inc.

Excellent communication. Helpful. Understands how to work around clunky systems. My business & finance systems were in a mess. Honestly, I hated it. But Deskerra went above and beyond to help me straighten it out. Now i see my finances much better with their monthly reporting & my tax season headache has also vanished. Thank you for your patience and kindness. It really means a lot.

Delicia Ivins

Owner, Mission Marketing

Very few people are passionate about what they are doing & gaurev & his team are exactly that. Our previous accounting firm used to handle our bookkeeping & taxes, but i rarely saw them excited to talk. Gaurev, is always willing and excited to talk with us. He is always putting new ideas about how we can improvize our systems and our business. It feels like he is one of our business partner. We are very grateful to have found gaurev.

Jack Wu

CEO, Silicon Valley Ventures

Invaluable Insights

Our Thought Leadership

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Clear your doubts

Frequently Asked Questions

What are the capabilities of NetSuite, when it comes to Accounting?

NetSuite’s Accounting solution sports robust functionalities which couples core finances & accounting with proper compliance management. Functions include, but are not limited to – Financial Accounting, Payments Management, Financial Reporting, Order Management, Billing, Supply Chain / Inventory management and more. Noteworthy Features:

  • General Ledger
  • AR / AP
  • Assets Management
Can NetSuite handle multi-level businesses with subsidiaries around the world?

NetSuite has developed a specialized suite: NetSuite OneWorld to help manage the multi-national finances and operations of a global business. NetSuite OneWorld delivers real-time data and operates on a single unified data system which is much-needed when companies need to manage multi-subsidiary / multinational operations from a specific country. Features include:

  • Global ERP
  • Global CRM
  • Globad Ecommerce
  • Global SRP
  • International taxation compliance and more
    How do you communicate with clients? Is it all over the phone?

    At first, many CEOs have trouble visualizing how a Virtual CFO can help their organization. During our assessment review, we’ll show you specific examples of how your CFO can improve your company’s decision data and performance. 

    We will organize a combination of recurring phone calls and video meetings to interact with your team. Typically we will have a recurring call/meeting with your internal accounting lead weekly, a monthly financial review with the leadership team, and other check-in meetings with the owner/CEO for status updates and new initiatives. 

    What kind of team does our company gain access to?

    Our full-service Virtual CFO clients are assigned a CFO, two accountants and a tax manager.

    How does NetSuite help the order management process?
    NetSuite can improve order management process by automatically transitioning orders to shipping, logistics and even Accounts Receivables. For the ease of management, NetSuite also supports multi-step picking, packing and shipping while providing real-time visibility into the entire order management process with information such as order trends, order conversion rates etc. When it comes to shipping the final order, NetSuite makes it easy by integrating your shipping process with carriers like Fed-Ex or UPS.
    How soon can we start working together?

    For sanity reasons, we have limited our onboarding to no more than 4 new companies per month. Depending on demand, you may have to wait a few weeks before we can officially get things started.

    I'm nervous about giving you and your team access to my accounting infrastructure. How do you handle data security?

    We offer secure data-transfer via a client portal and have never experienced data security problems.

    Do I need to sign a contract?

    Well, we do have a contractual system, whereby clients agree ad authorize us to work on their behalf. The idea behind this is to ensure a smooth working relationship.

    HOW LONG WILL THE ON-BOARDING PROCESS TAKE?

    The on-boarding process can range from 1 month to 3 depending upon the scale of the business. There are several check-lists that we follow to ensure that the on-boarding process is completed effectively.

    Will the same people always service my account?

    Our Virtual CFOs all manage an experienced team. While that team may change (due to promotions, role changes, etc.) your assigned CFO will be your main point of contact and that will not change.  

    Will NetSuite help with my Production Control?

    NetSuite’s manufacturing module provides real-time data at every step of the production process. From sales order to work order processing, order fulfillment, costing etc. NetSuite’s Production Control Module does it all! Some features include:

    • Product data management
    • Quality assurance
    • Work Order management
    • MES
    • Planning & Scheduling
    My business is very complex. How will you be able to understand the work we do and quickly start helping?

    Our team consists of CFOs and controllers with many years of experience in a wide range of industries.  We match the specific person or people assigned to your team based on skill set, experience, and expertise to ensure they have knowledge about your industry.  The only thing we need to learn is how you conduct your particular business operations, but in terms of your industry, we can add value immediately. 

    What size companies does LedgerLabs work with?

    The need for good financial management is not a function of size; almost every business can benefit from the activities of a CFO. Generally though, we work with companies ranging from $1 million to $20 million in annual sales, although some are smaller and some are larger.

    What are some NetSuite product features for small to mid-size Retailers?

    NetSuite for Retailers provides an omni-channel experience to customers across web, mobile, in-store to enhance the buying experience. Product features include, but not limited to:

    • In-store POS management
    • Ecommerce management
    • CRM & Marketing
    • Order Management & Fulfillment
    • Business intelligence & reporting
    • SCM
    • Accounting & Financial Management
    What about NetSuite data migration?

    Before NetSuite begins data migration, be sure that you cleanse the data. Your data should be segregated and meet NetSuite requirements. NetSuite recommends doing this so that the data importing transition is smooth and doesn’t affect your business.

    To prepare for data migration, you must identify your master data. Ensure that you communicate with NetSuite if you have multiple places where your data resides.

    Then, you must determine what method you will use to import your data. Importing can be done through a CSV file or third-party tool.

    The final step is planning for the import. Be sure to have a data migration plan in place so there are no surprises.

      Still have Questions?

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