Eliminate manual journal entries. Adding custom GL impact lines to transactions across single or multiple accounting books reduces the time and effort required for account reconciliation, closes and audits. Automated journal-entry approval workflows verify criteria, like threshold amount and approval limits, before the journal is posted. NetSuite GL automates amortization and depreciation schedules, P&L allocations and other routine calculations.

Say goodbye to complex tracking codes and hello to a simplified chart of accounts structure that organizes financial and statistical data for simplified reporting.

Define unlimited custom GL segments, such as profit center, fund, program, product line and more, in addition to standard subsidiary, class, department and location segments. Improve accuracy and save time by ensuring adherence to double-entry accounting principles and balancing data across all segment combinations.

Distribute shared transactions across multiple subsidiaries, departments or location segments based on percentage or amount-based predefined rules. Improve accuracy and save time with automated journal entries and reusable distribution templates.

Gain the ability to track — in real-time — revenue and expenses against predefined budgets created with NetSuite Planning and Budgeting or imported as .csv files.

Get cash flow insights at a glance. Connect to thousands of financial institutions around the world, automatically import bank and credit card data into NetSuite and reconcile statements with general ledger accounts. An intelligent rules engine compares bank data with existing transactions, automatically reconciling matching entries and flagging exceptions so they can be addressed.

Eliminate data entry replication and reduce the need for error-prone manual adjustments to your accounting and reporting processes with NetSuite multi-book accounting capabilities. Managing books aligned with various accounting standards is simpler with prebuilt mapping capabilities linking primary and secondary charts of accounts and book-specific functional currencies. The NetSuite multi-book engine records all book-specific activity based on a single business transaction from the general ledger, including revenue recognition, expense amortization, depreciation, P&L allocations and more.

Maintain accurate tax records, with the correct details in the right currencies, wherever your customers and partners do business. Record transactions in both the local currency and your company's base currency — simultaneously. Automatically manage currency conversions using up-to-date exchange rates, saving time and minimizing errors. NetSuite eases compliance with local and international tax rules, including income, VAT and other sales and use levies.

Custom reporting segments allow multidimensional analysis of financial and operational data. Automatically consolidate subsidiary financials and create reports under multiple accounting standards. Schedule reports to be generated and emailed daily, weekly or monthly.