Financial consolidation and group financial management on NetSuite.

Capabilities

What NetSuite Handles for a Group

Seven areas where a multi-entity setup in NetSuite changes how the group close and group reporting work.

Real-time consolidation across entities

• Financial data consolidated automatically across subsidiaries, regions and currencies.
• Consolidated financial statements produced on demand, without the delays and manual errors of spreadsheet consolidation.
• Reporting set up for local and international accounting standards such as IFRS and GAAP.

Multi-currency and multi-tax compliance

• Operations in several currencies, with built-in currency conversion and revaluation.
• Tax calculated and reported automatically for different jurisdictions.
• Tax setup kept current as regulations change.

Centralised group financial management

• Budgeting, forecasting and financial planning run across the whole group.
• One view of financial performance at subsidiary and group level.
• Decisions based on consolidated data rather than separate entity reports.

Automated intercompany transactions

• Intercompany billing, reconciliation and eliminations automated.
• Less time and fewer errors in manual intercompany reconciliation.
• Accurate, traceable intercompany accounting.

Reporting and analytics

• Detailed group reports, including balance sheets, income statements and cash flow analysis.
• Reports and dashboards customised to track KPIs and trends as they change.
• Analytics that help identify opportunities and manage risk.

Compliance and audit readiness

• A clear audit trail with detailed logs of financial activity.
• Data protected by role-based access controls.
• Compliance reporting for regulatory requirements in several regions.

Scalability for growth

• Financial processes that extend as the business enters new markets or adds subsidiaries.
• NetSuite's cloud platform gives access from any location and connects with other systems.
• Workflows that can be configured as business needs change.