Combining Intercompany Bills and Invoices

NetSuiteeven from the release a couple of years ago allowed pairing bills within the company to ensure more comprehensive visibility of the cash 몭ow. This time the same capability of NetSuite for nonpro몭t organizations has been further enhanced to process bills and invoices with more accuracy and precision.

The new NetSuite 2022 Release 1 now allows the professionals in nonpro몭t organisations to combine singular credit memos and bill credits within the company. Thanks to this there is no longer any need to make full purchase orders within the company. Because of such automatic pairing, mismatch of bills and invoices can be reduced to a minimum level and manual work can be avoided. The feature will make things easier for nonpro몭ts with one or several subsidiaries.

All the nonpro몭t organisations struggle often to stay updated on the exact cash position. They also look up donations for running their projects. So, it is a kind of necessity to have a solid grasp of the real-time cash position as well as the future projections of the cash 몭ow. Since donations always 몭uctuate to a great extent, having cash 몭ow projections is extremely important.

This is where the new NetSuite 2022.1 version o몭ers several key new features. The biggest of them is a crisp new dashboard o몭ering comprehensive cash position data and cash 몭ow projections. The Cash 360 dashboard apart from providing the present state of things will also continuously give projections of cash 몭ow for the next six months or so. The projections take into account all the transactions, about to come collections and disbursements. Furthermore, the dashboard can be customised to accommodate other transactions and donations of non-cash nature.

With the new NetSuite 2022.1 version, we now have a labour expense allocation feature for streamlining the allocation of payroll costs for each employee in a program. This will ensure optimum visibility into the labour costs for each project.

The same expense allocation feature will also help the organisation to delegate the cost to a particular grantor. The feature earlier was only accessible by the users of NetSuiteSuiteSuccess Social Impact Edition. But now it is made available for all NetSuite ERP customers.