I use NetSuite ERP to create invoices and make customer payments. When first utilizing NetSuite ERP, our goal was to make a seamless process for creating invoices. We typically generate 40-115 invoices weekly and moving to NetSuite ERP has allowed for a more cohesive workflow of data.
Pros
Easy to Apply Customer Payments
Historical Data
Invoice Creation
Cons
Rate limitations
Record types - The sales order is the parent record and fulfillments are a pass through
Likelihood to Recommend
The Accounts Receivable process from creating invoices to making payments for the most part is an easy to follow process. We run into issues when we have multiple invoices and multiple fulfillments for the same week. If we have to make changes to an invoice that is not the latest invoice, we have to change dates on the sales order to reflect correctly on the invoice because the dates pull from the sales order and not the fulfillment. This causes delays in productivity/efficiency within our department.
VU
Verified User
Supervisor in Finance and Accounting (Oil & Energy company, 51-200 employees)
Netsuite ERP allowed us to gain a better workflow & view between opportunities and invoicing. Currently use NetSuite: FAM, Opp to Invoicing, advanced projects & NSPB
Pros
Quote --> Invoicing
Items (services)
Customizations
automations (built-in) not a separate module
FAM
Revenue Reconigiton
Cons
The number of rates we can associate service level, with individual customers.
Likelihood to Recommend
NetSuite ERP is well suited for specific financial tasks such as classifications, multi book accounting, revenue recognition, project management. In my opinion, NetSuite ERP has limitations, such as the number of rates we can have per customer. We had to look for a secondary service provider to handle this. NetSuite ERP has lots of "native" options available, but usually requires the purchase of additional software as well as a separate cost of hiring consultants for the implementation.
