Netsuite is a good business accounting tool, but it isn't downloadable software. To use the program, you must login to Netsuite's website. One drawback to this design is that Netsuite navigates from screen to screen only as fast as your Internet connection will allow. This can be annoying if you use a dial-up modem or a lower speed DSL connection.
Netsuite breaks the business accounting process into thirteen different roles, including: Administrator, Controller, Customer Center, eCommerce Site Manager, Employee Center, Marketing Manager, Receivables Clerk, Sales Manager, Sales Rep., Sr. Executive, Support Lead, Support Manager, and Warehouse Manager.
A midsized business would find this type of organization useful; different managers could govern each role. For example, a warehouse manager could supervise your inventory using Warehouse Manager. But if your business is small, you must assume each role as needed. To manage sales tasks, for example, use the Sales Manager role. All other sections can be found in the Administrator Account.
Installing this product wasn't necessary because Netsuite isn't actual software. All you have to do is login to your account and all the information is stored and managed over the Internet.
Netsuite is confusing to operate because it is text-based, not graphics-based. Also, the features are broad, not specific. But the program does have a few perks. Netsuite has a navigation tool bar at the top of the screen, a pull down menu, shortcuts to daily information, and one quick way to switch between roles.
Beyond this, though, there is no quick access to sections because they are not broken down by task, but by role. Since features are assigned to roles, you must learn the role for each task you want to do. It may be difficult for product may be difficult for small businesses to adapt to their data input style to.
Netsuite has good help that can answer most accounting questions. The manufacturer offers an integrated search tool in the menu and a global search tool that can find a word anywhere on the website. Netsuite also has tips and user guides.
The Accounts Receivable section is outstanding. This offers everything you need to manage all your invoices and shipping. Here, you can choose a shipping method and track shipping easily. You can also sell on credit and calculate finance charges for your clients. This section offers thirty-five different reports.
With this section you can make purchase orders, prepare quotes, and write vendor memos. You can also make and print checks and 1099 forms. However, the program cannot create customized vendor checks. This section has twelve different reports available.
The Payroll Section lets you manage all your employees: set pay periods, salaries, deductions and more. Even though you can print W-2s for each employee, you can't print 941 forms (for unemployment). One other weakness—you can't specify if an employee is active or inactive. There are seventeen different payroll reports available.
Inventory tools are available in Netsuite's Warehouse Manager. You can manage inventory and even display photos of inventory items. You can specify a cost method (your preferred accounting method), but you can only use one cost method at a time. You can also print ten different inventory reports.
This section offers all the tools you need to manage your bank accounts. You can reconcile accounts, write checks, make deposits, transfer funds, use credit cards, and make online bank statements. There was one banking feature missing—the ability to void existing checks. Other than that, Netsuite covers all your banking needs; you can choose from five different reports.
We found time-related tools in the Administrator Role under the Employee Center. You can track time daily and weekly, or even make expense reports. Netsuite also has a timer built into the program for convenience. There are ten different reports available in this section.
This section lets you manage all your tasks and set each task as active or inactive. You can also track jobs so you can view task progress. Netsuite also lets you create an estimate of the overall project (so you can judge if these are worth pursuing). We didn't find any reports in Netsuite associated with Job Costing.
The General Ledger section isn't easy to find in Netsuite. But we did find over a dozen reports related to the General Ledger scattered throughout the different roles. Once you learn your way around the roles, finding the right report becomes easier, but there is a learning curve.
As far as we could tell, Netsuite doesn't offer tools to manage fixed assets.
Netsuite is a good accounting service if your small business is starting to grow. With all the different roles available you can divide the software between key employees in your company easily.
Ask & Answer