Of any type of business, small ones likely have the least bandwidth to devote to analyzing and optimizing these various elements, making them a good candidate for an ERP system. ERP is an integrated software platform that companies use to manage their resources. This includes everything from planning to hiring and HR to finance and accounting to order processing and inventory management, depending on what type of business the company does. Keeping multiple types of software under one umbrella can be a huge boon to users, as the platforms typically “talk” to one another much more fluidly than when using third-party integrations.

Regulatory Financial Compliance

But if you’re a startup, small business or want a simple, “no-frills” option, you should probably look elsewhere. In addition, NetSuite comes with robust reporting capabilities. Thanks to its built-in reporting tools, you’ll be able to pull reports on just about anything you’d like. There are also role-based dashboards that can help your employees and management team make smart, data-driven decisions. Small companies with simple inventory management requirements shouldn’t use Oracle NetSuite as their primary option.

You’re All Set

After much research and analysis, we recommend Oracle NetSuite as the best accounting software for advanced features, since its ERP system covers virtually everything a business needs. After comparing Certified Bookkeeper and contrasting the dashboard, features, pricing and customer service, we test-drove the product with an initial setup. Overall, we found Oracle NetSuite to be a very powerful, robust platform that has all the bells and whistles to manage many moving parts.

First, the software can be complicated to set up and manage, so it’s easy to get overwhelmed if you are a novice. For example, the interface enables you to modify reports, but if the data source is not available, you’ll need to take extra steps to customize your reports. Training is essential for new users and teams to make the most out of Oracle NetSuite. With Oracle NetSuite, your business will always be audit-ready.

What is the actual cost?

The platform offers you smart and all-inclusive reporting features. Rather than going through the entire data present on the platform, you can direct the tool to filter the required data and create a report for the same. This report can be used to entice investors, motivate the employees, or do any other beneficial task.

SRP Features

Clicking on one of those plus buttons will display all available reports, and clicking on a report title launches the report. Every dashboard can also be fully customized with plenty of graphs and charts that can be used at any time. Color themes can be adjusted, and users can move and resize anything on their own individual dashboard.

With its customizable dashboards and automation, we think Oracle NetSuite stands out because it offers flexibility for various industries, making it a reliable choice for companies with complex needs. Like any of the best accounting software platforms, NetSuite offers reporting, planning and billing features, and it easily integrates with other software, including Oracle’s suite of business solutions. NetSuite can also be used seamlessly with multiple currencies, so it’s a great option for growing companies with a global customer base.

• NetSuite ERP addresses many business problems including bank reconciliations, monthly reports, fixed asset proposals, bill pay, and more.
• Quickbooks is better for syncs to banks and credit card agencies.
• However, there is no shortage of modules you can choose from to completely customize your experience.
• Only the parties that have actual access to the information can go through the same.
• Most cloud-native ISVs, such as vendor collaboration, WMS, or TMS software that might not be available with other ERP ecosystems, are available with NetSuite.

From a top level executive/accounting perspective, awesome system. A year was spent trying to implement Netsuite but after $30,000 plus spent, we had to move on. The initial implementation was set up incorrectly and as the go live date approached, we pushed them to move it back, realizing the software was in no way ready to meet our needs. We were continually told no but had little support to help us through the process. We realized with the lack of support, we would need a team memeber well versed in the software.

Is NetSuite right for you or your business?

Additionally, you will pay more for additional modules, additional seat licenses, and ongoing support. A tech savvy accounting and bookkeeping firm serving small and midsized businesses, we focus on building scalable accounting department for our clients. Below are some of the pros and cons of NetSuite gathered and brought together from over a thousand different reviews of NetSuite. These will provide further insight into whether you should use the tool in your business or not. Another added benefit, that’s mentioned in this NetSuite review, is that the tool is very reliable. You can trust the tool as it follows all the compliances, legal or otherwise, for recording, managing, and presenting the data.

One user said, “They make the hard things easy, and the easy things hard”, and we think that perfectly encapsulates the software. So you lose features like automatic bank feeds, but gain features like complex inventory tracking. It also has user permissioning and audit capabilities that far exceed our recommended tools.