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Introduction

The growth of a company goes hand in hand with the acquisition and the creation of new subsidiaries to support their international development. But these acquisitions or expansions bring different challenges. One of these challenges is to be able to ensure and manage transactions between subsidiaries and in particular around recharging or transfer pricing for example.
Are you one of those companies with numerous subsidiaries and not satisfied with the overkilled native and standard Intercompany processes in NetSuite ?
Novutech brings you the perfect solution with our SuiteSolution Intercompany Pack within NetSuite.

Objectives

When it comes to Intercompany transaction management, many clients show interest in a simple  and ready-to-use way to create transactions to or from another subsidiary with an automatic mirroring of transactions created to the corresponding subsidiary.

NetSuite allows you to create transactions but, until now, doesn’t automate the mirroring of transactions created to the corresponding subsidiary. In addition, the standard NetSuite solution requires you to start from a Purchase Order or Sale Order which can make transactions more tedious and complex.

This custom Novutech SuiteSolution aims at providing an easy and automated process that fits with your business and optimizes it.

Features

  • Intercompany Transactions : Create or Import data input in a specific record and then launch a process who will generate Intercompany Invoice and the corresponding Vendor Bill.  Useful to accelerate the process of chargeback or re-invoicing of costs.
  • Mirroring Intercompany Invoice : When an Intercompany Invoice is generated, the corresponding vendor bill is automatically created.
  • Mirroring Intercompany Vendor Bill : Same as previous but the starting point is the Intercompany Bill
  • Reconciliation report : a bunch of report to track intercompany transactions and reconciliation is included in our pack
  • Journal Entry with Intercompany within a custom Fast Four patch versus the Fast Four Advanced Journal Entry : we have developed ready-to-use add-ons to the Fast Four Bank Reconciliation to manage the posting of intercompanies in order to avoid having to use the Advanced Journal Entries, that are not compliant with what local accountants wish to have.

Customer reviews

  • Easy and straightforward
  • Accelerate Intercompany chargeback process
  • Fills a big lack of NetSuite
  • Streamline your intercompany processes

Key information

  • Fix and transparent price
  • Implemented in just few days based on your needs
  • Set up, configuration and training included ( 2 hours + 1 hour Q&A  session)
  • Not enough? Let’s schedule an audit session with us

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