Integrated Business Accounting for NetSuite – IBA

NetSuite now supports the creation of custom segments which can be assigned to transactions and have a GL impact.  Custom segments are also available in searches and reports.  Nolan IBA provides the ability to track accounting entries by an IBA custom segment code.  IBA custom segment codes can represent legal entities, divisions, funds, companies, etc. IBA automatically creates control account balancing entries when entering transactions that impact multiple segments (division or companies). The control account entries are the due to/due from entries to keep the segments balanced. This is for clients using NetSuite that currently have one Subsidiary but would like to have multi-company ability within their NetSuite instance.

Features​

  • Allows for managing due to/due from accounts within one NetSuite instance.
  • Provides for separate financial reporting per segment representing company or division within NetSuite.
  • Ability to run all reports where custom segments are supported.
  • Supports Journal Entry and Bill Payment.
  • Posting entry automatically creates the balancing due to/due from entries.
  • Works as a standard NetSuite journal and therefore has all the functionality of a standard journal.
  • Ideal for fund accounting, divisions, and multiple companies

Benefits​

  • Ease of use for transaction entry
  • Rapid implementation
  • Quick ROI – a value proposition.
  • Ideal for multiple divisions or companies that don’t need the full functionality of One World
  • Easily maintain intercompany or divisional balances.

Ideally suited for:

  • Chains
  • Trusts
  • Connected Companies
  • Franchisees

If you’re interested in exploring this tool, please contact us at: ussales@nolanbusinesssolutions.com.​

By Kim Haythornthwaite, General Manager, Nolan Business Solutions, an international solution provider of automation tools for Microsoft Dynamics GP & NetSuite | including NetSuite implementations/consulting throughout North America.​