Netsuite Tutorial: Ultimate Guide to Learn [BEST & NEW]
Last updated on 07th Jul 2020, Blog, Tutorials
NetSuite is a powerful platform that helps manage business finances, operations, and customer relations. It is a subsidiary of Oracle and offers its services to both medium and large-sized businesses. NetSuite financial management offers a variety of capabilities including Accounting, Billing, financial planning and more. The NetSuite tutorials below will hopefully help you master this feature-rich software.
NetSuite is a cloud-based ERP, CRM, E-Commerce, and Professional Services management platform. It is used by over 30,000 companies to run their entire business.
What is included?
The #1 Cloud ERP, NetSuite provides a suite of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software that runs the business of more than 18,000 customers in more than 200 countries and territories. Its capabilities include:
- ERP: NetSuite ERP runs all of your key financial business processes in the cloud: accounting, inventory, supply chain and order management.
- Customer relationship management (CRM): NetSuite is the only on-demand CRM system that gives you a true 360-degree view of your customers.
- Professional services automation (PSA): NetSuite PSA helps you accurately plan, track and execute projects.
- One database, one system: Real-time, unified global business management platform to manage operations involving multiple countries, currencies, languages and subsidiaries.
- E-commerce: Unify every step of your web store from point of sale and order management to marketing, merchandising, inventory, financials and support.
- Retail: NetSuite offers a powerful, cloud-based retail software solution designed to satisfy your omnichannel shoppers.
- Manufacturing: NetSuite’s solution for manufacturing allows you to focus on delivering products and services while gaining agility for scalable growth.
NetSuite is intelligent
All the corporate data can be held in one single database which will give access for the key performance metrics on a customizable and real time dashboard. It helps in quick decision making process.
NetSuite is integrated
It’s a single and powerful application. It also combines the complete customer facing CRM and an Ecommerce capability with a back-office Accounting/ERP and a self –service portals for the partners. This overall will allow the companies unite the fragmented data and automate all the end-to-end processes.
NetSuite is simple
NetSuite has made all the implementations faster and are less expensive than the traditional business applications. The modularity in this phase will help the implementations according to the needs of the company. Being a web-based on-demand solution, it will reduce the total cost of ownership (TCO).
The following steps will give you a quick insight into the steps during the setup process that will ensure a successful install.
- Make sure all instances of Microsoft Outlook are closed on the computer.
- Log in to NetSuite and select your role
- There will be a Portlet on your Dashboard called ‘Settings’
- Click on the ‘Set up NetSuite for Outlook’ link in the Settings Portlet, a new screen will appear.
- Follow the Instructions on the screen, this will download the add-on for Outlook and install it onto your computer
- Once Downloaded a login box will appear, you need to use the NetSuite credentials for the account you are using and the account number.
- FYI : Tick ‘Remember Me’ otherwise each time your credentials will be required to log in.
- To find your account number follow these steps:
- Go to Support
Click the Go to SuiteAnswers button > Contact Support by Phone.
A new window will open and show you your NetSuite Account Number like this.
Set Up: The “Role” drop down will be preselected with the role the member of staff uses, this doesn’t need to be changed – see below for an example. If you are happy with this, then click ‘Next’
Click the box highlighted in blue beside “Outlook Synchronisation Folder” in the image below to select your folder.
Select the contacts you want to be synced. If your computer doesn’t have any personal contacts, then your main contacts can be selected, or if there is a certain folder needing to be used simply select it and click ‘OK’.
No other changes need to be made on this screen, click ‘Next’
Once you have completed the steps above the install manager will then walk you through the following steps to complete your integration;
- Task synchronisation
- Phone Call Sync Settings
- Email Synchronisation Settings
The process is complete, a screen will appear showing estimated records pending
Once you are happy you have completed all the set-up steps, click ‘Sync Now’ and all your information will start integrating between NetSuite and Outlook.
- Set up NetSuite for your business
- Make sure you have a user account on NetSuite
- Go to this link
- Enter your email address and password
- Access everything NetSuite has to offer
1. Set up NetSuite for your business.
You won’t have any information or accounts to log into if you haven’t purchased and configured your software suite yet. SCS Cloud would be delighted to help you get started on this process to implement a system tailored to your exact needs.
2. Make sure you have a user account on NetSuite.
When we get your personalized NetSuite applications ready for you, we can create these accounts for administrators and managers. If you don’t yet have a NetSuite account, an administrator on the system should log into his or her account, go to the “Lists” drop-down menu, choose the type of account you need (Accounting, Employee, Relationship, Marketing, Administrator, etc.), input your name and email, check on what type of access you need, send you an email so you can decide on a password, pick the role you fill, and save. (For more detailed instructions and images, check out NetSuite Org Atlassian’s guide to “Adding New Users in Your Account”). While this is one of the more complicated steps, remember that you’ll only ever have to do it once to be able to log in.
3. Go to this link.
No matter what kind of device you’re on, you can log into NetSuite, as long as you have Internet connectivity. If you’re on an iPhone or Android smartphone, or even a tablet, it may be easier to download the NetSuite app from the App Store or Google Play.
4. Enter your email address and password.
If you forgot your password, don’t worry—NetSuite can reset it by sending an email to your registered account.
5. Access everything NetSuite has to offer.
This suite of software applications has an easy-to-use, intuitive dashboard, so once you’re in, it should be fairly straightforward.
- Increased user adoption
- Maximized productivity
- Increased goal achievement
- Faster time to value
- Self-sufficient administrator and users
- Reduced implementation risk
- Strengthened long-term ownership
Advantages of NetSuite
1.Efficiency in the process across the organization
There are many key processes that are encountered in the daily operations like order management, fulfillment, invoicing, cash collection, expense approvals and financial consolidations are just to name a few. Automating such processes will reduce the hiring that you would require running these processes otherwise.
2. Improves visibility
To take decisions it is important to have a real-time visibility. Due to this information can be accessed from anywhere and anytime without wasting the resources on the data extraction. This has made all the processes accurate and faster.
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3. Significant IT Time and Cost Savings
IT will no longer have to procure, install and maintain a lot of systems as there are various integrations in between. Reduction in the operational costs will be realized when the IT time will be used in improving the operations of the business.
4. Accelerated growth
With the help of this integrated software there can be an expansion to multiple locations and there can be additional sales channels which can be done faster because of the unified order and the accounting management processes and data. It also helps the company for upsell and cross-sell for better efficiency for the existing customers for an improved visibility.
5. User-driven innovation
As the process changes the implementations are done faster and daily business users are able to apply their functional expertise for tailoring the processes and the applications in a way that will help in improving the performance. In the mean time, IT will be liberated for focusing on the strategic initiatives that will add value by building innovative value-added solutions.
6. Extending the process to customers, suppliers and partners
Today everyone wants to work closely with their partner with an extended enterprise. It offers self service portals that will enhance both B2B and B2C collaboration. There are proactive notifications of partner-specific events that will accelerate the process cycles and improve the responsiveness that will ensure your position as a preferred partner.
7. Customizing and extending NetSuite with SuiteFlex
NetSuite is the world’s most customizable Software-as-a-Service (SaaS) solution. Just click and not code and configure all the modular implementations and start your business. The advanced customization are simple, industry standard tools will allow you to tailor the business practices and the processes to meet your company centric requirements. This customization can be carried forward seamlessly with the upgrades which will actually encourage to customize NetSuite highly and create a software application which would be one-of-a-kind.
NetSuite Tips & Tricks : For all the power and flexibility of the NetSuite platform, there are complex tasks or specific company needs that require answers that are as unique as a fingerprint. In that spirit, RSM has created a library of advice, tips and solutions that enable NetSuite users to get pesky questions answered or ideas for tweaking a particular feature. We add new material regularly, so please check back for updates and suggestions.
3 ways to boost sales with customer price lists : Turn price lists into a powerful selling tool with a few simple tricks by tailoring your price lists to each customer.
2018.1 NetSuite email changes : Why are my NetSuite emails coming from firstname.lastname@example.org? Starting 2018.1, two fields have been removed from the Email Preferences page.
Adding dimensions to fair value pricing : The ability to define a Fair Value Price List is a great feature within NetSuite’s Advanced Revenue Management (ARM) module.
Advanced revenue management overview : This Revenue Management Overview tip provides a high level overview of how to set up Revenue Recognition in NetSuite.
Avoid GL impact and average cost inaccuracy when using WIP and routing : Identify the WIP and Routing configuration that will allow this inaccuracy as well to determine how to modify your operations.
Creating a CyberSource payment processing profile : Create an account with CyberSource to use your payment processing profile and get your required security key.
CSV import: Credit memo with apply to invoice : NetSuite supports being able to import a Credit Memo and apply it to a Sales Invoice in the process.
Custom field value derived from summary search results : In NetSuite, you can create a custom field that will display values from a summary saved search. This is similar to a custom sublist.
Custom segments in budget reporting : This ability to define G/L postings with an unlimited number of classifications has expanded financial reporting for many accounting teams.
How to export NetSuite 301 redirects : This tool allows us to export all of our client’s redirects, whether they number in the hundreds, thousands, or millions.
NetSuite is the jack of all trades. With its combination of accounting, CRM, ERP and ecommerce programs, its functionality outweighs QuickBooks hands down, however because NetSuite puts such an effort into being able to do everything, some features and functionality must be sacrificed. NetSuite is perfect for medium to large sized companies looking for a program that integrates all business functions. There is no customization by industry which makes some of the features useless depending on the company. Overall, NetSuite is an expensive program, but if your company can utilize all of the features, it will be better off with NetSuite.