Netsuite Bookkeeping And Business Software: A Guide

If you run your own business, then you are no doubt extremely busy. You’ve got employees, customers, stock and inventory to look after — and an endless stream of ATO reporting, payments, invoicing and paying suppliers to do. There certainly is a lot to be across. Many business software platforms exist to help manage all this. In fact, you may already be using software such as Sage, Quickbooks, Microsoft, etc. But, what if there were one software programme that helped with all of these issues in one neat package? Enter Oracle NetSuite, your one-stop shop for business management software.

Unsure of what software is the best for your unique business needs? Give us a call on 1300 728 875 or send us a message to have one of our team of experienced bookkeepers help choose the best bookkeeping software for your business. 

What Can Oracle NetSuite Do?

Oracle NetSuite is a one-stop shop for your business software requirements, reducing the need for double handling of information and data. There are a wide range of areas that are covered by Oracle NetSuite, with the most commonly used features being:

  • Enterprise Resource Planning (ERP)
  • Warehouse Management System (WMS)
  • E-Commerce
  • Customer Relationship Management (CRM)
  • Global Management
  • SuitePeople Human Resources Management System (HRMS)

NetSuite provides all of this under a single, fully integrated software system. It achieves this through a modular framework.

Netsuite ERP

NetSuite ERP can manage all of your main finances. At the most basic level, it can perform all of the fundamental accounting functions in your general ledger. It can also generate a summary of your assets, liabilities, equity, revenue, expenses, accounts receivable and accounts payable.

But it can do much more than this. Because it stores all of your data in one programme, you always have up-to-date, accurate information. This will not only help you to manage your budget — it’s also a great tool when it comes to project management.

NetSuite WMS

Oracle NetSuite manages your inventory and warehousing through a sophisticated warehouse management system (WMS). This system optimally manages all resources within the distribution operations while minimising the total cost of operation.

The beauty of this is that, because of the integration with the WMS, it also knows your inventory and supply chain information. Large inventories can easily become unwieldy, but NetSuite can store it all for you. You can easily see what you have, so you can make informed choices and keep control of buying and shipping costs. NetSuite is, therefore, a great tool for expense management. Your procurement is streamlined and made more efficient because you have full control of your inventory.

Your warehouse can be managed via a real-time inventory, which is made possible by an integrated system of radio frequency (RF) devices and serialised inventory tracking. This also allows you to use ‘cycle counting’ of your inventory. Instead of your employees counting the entire inventory, you can conduct a regular count of particular items. Then, when it comes to shipping goods to your customers, NetSuite will even work out the size of cartons required thereby saving you distribution costs.


Having accurate information about your inventory and up-to-date financial data can also help you plan strategies to improve your business. You can use the supply chain information that is integrated into the software to get helpful, real-time data to help you evaluate:

  • Costs and efficiency of each stage
  • Which suppliers are reliable with deliveries or payments
  • Which products are selling and which are not

This information can help you make decisions about important processes, such as sourcing materials and managing your orders.

However, NetSuite is capable of much more than simply looking at your current business status. It has powerful tools that use advanced planning logic that can examine your historical data and provide sales forecasts. It can even provide suggestions for purchasing.

NetSuite also has tools to help you with:

  • Managing projects
  • Scheduling
  • Providing detailed job costing

Because all of your data is integrated in one place, you can get access to accurate project data in real time.

To see how Oracle NetSuite can streamline your business management, send us a message or call us on 1800 728 875 and we can walk you through the finer details.

NetSuite CRM

In addition, Oracle NetSuite incorporates automation tools to organise and synchronise your customer — and potential customer — communications. You can use this functionality to help streamline and tailor your business according to real customer demands. It also allows you to make customer support more efficient.

This integrated information will also assist you in making decisions on your marketing, merchandising and sales strategies. The software analyses your customers’ purchase history, which allows you to develop better strategies to both retain old customers and entice new ones, and so ultimately to drive sales growth.

Netsuite OneWorld: Global Management

Whether your company buys materials or products from overseas, is expanding to international markets, or is already established in the international marketplace, NetSuite OneWorld can save you a lot of time and money. NetSuite is used in over 110 countries and supports over 190 currencies and 160 languages.

Companies doing trade overseas need to stay abreast of regulatory challenges, compliance risk, financial penalties and system-based tax audits. Using NetSuite OneWorld can help you manage and stay on top of your global tax and compliance responsibilities.

OneWorld incorporates a configurable tax engine plus preconfigured tax codes for over 50 countries, as well as reporting capabilities that allow you to comply with various offshore financial and accounting regulations.

It can also handle multiple currencies and offers a variety of payment options, making your purchasing and sales much more efficient. You can also benefit from their live currency feed.

NetSuite SuitePeople HRMS

Whilst employees are vital to the success of your business, they also come with a wide range of factors that require managing. The NetSuite SuitePeople Human Resources Management System brings together a single tool that allows you to manage payroll, employee performance, rostering and other employee-related functions. With all human resource functions in one place, NetSuite SuitePeople eliminates the need for third-party integrations, improves accuracy and reliability and helps you to make well-informed decisions when it comes to staffing- and employee-related matters.

Does Oracle NetSuite have competitive pricing?

Oracle NetSuite do not advertise details of their pricing structure, and they are quite elusive when it comes to details on costings, so you will have to get a personalised quote for your business needs. It appears that the pricing of Oracle NetSuite is based on what features are required, meaning that you can customise your level functionality — and pricing — as needed.

To get a better idea around pricing, you can use the NetSuite Free Product Tour, or contact Oracle NetSuite directly via their Price Quote Form on their website.

What are the benefits of Oracle NetSuite?

The benefits of having a single integrated system that can manage all of your key business processes are clear. Your business can be much more streamlined, efficient and profitable. This cloud-based system has the power to lower your operating costs, save you time and strengthen your competitive advantage.

Should I use Oracle NetSuite for my business needs?

Oracle NetSuite is certainly a great option for those companies looking to streamline their business management software. For retail businesses who sell online, or have multiple product lines, the warehouse management system certainly can save time and money. For companies with multiple employees, the HRMS can help with managing the issues that arise with staff management.

If you’re the kind of business owner who loves to make data-informed decisions, you will appreciate the ability to integrate all of your business data to create customised reports.

What Oracle NetSuite bookkeeping services do you offer?

We have expert bookkeepers trained and experienced in using Oracle NetSuite for bookkeeping and accounting. Our highly skilled bookkeepers are able to help setup Oracle NetSuite for your business, and train you in how to use the software effectively to maximise the benefits for your business. We can also work with you and your team to maintain your business files on a regular basis to help you optimise profits and grow your business successfully.

Still have questions? Give us a call or send us a message to see how we can help ensure the success of your business using Oracle NetSuite.

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