The NetSuite Accountant

How to build a monthly spend by vendor saved search in NetSuite

Paul Giese Mar 9, 2020 5:15:00 AM
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Are you looking for more tips, tricks, and how-to articles on reporting in NetSuite? Check out our NetSuite Reporting Resource page.

For an accounting team explaining the spending changes, having a report that quickly shows vendor spending is helpful. In this blog post, I will walk you through how to build this with a NetSuite saved search. 

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Five NetSuite preferences you need to know

Paul Giese Mar 2, 2020 5:15:00 AM
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NetSuite is a flexible accounting solution that has many preferences available to individual users. While an individual setting rarely makes-or-breaks the system, over time, optimizing many small experiences can lead to large efficiencies. In this blog post, I highlight five preferences to improve your NetSuite experience.

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NetSuite saved search for accounts payable review

Paul Giese Aug 26, 2019 5:15:00 AM
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Looking for tips, tricks, and how-to articles on reporting in NetSuite? Check out our NetSuite Reporting Resource page.

When managing accounts payable (AP), team members are often asked about the status of an invoice, payment date, the coding for a specific invoice, and other questions about AP activity. Utilizing a NetSuite saved search is a perfect use case for helping answer these vendor questions quickly. Saved Searches are one of my favorite features of NetSuite. Today, I am going to walk through a transaction saved search for getting answers to questions about vendor activity.

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Using SUMIFS and NetSuite saved searches to automate reconciliations

Paul Giese Jul 8, 2019 5:15:00 AM
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The SUMIFS formula is a powerful formula that every biotech accountant should be able to use. Today, I am going to walk through how to use this formula with a NetSuite saved search to automate an accrual monthly reconciliation. This setup has worked well for preparing preclinical, clinical and CMC accruals.

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1099 saved search in NetSuite

Paul Giese Jan 14, 2019 5:30:00 AM
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With the start of tax season comes the task of preparing and filing 1099s. In NetSuite, the combination of the vendor record and the GL account is how 1099 activity is tracked. Within the vendor record, users add the tax ID and enter if the vendor is 1099 eligible or not. Users enter the 1099 category on the GL account record.

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Setting up a biotech chart of accounts

Paul Giese Aug 8, 2018 6:18:00 AM
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Ready to implement NetSuite? Check out intheBlk's NetSuite implementation resource page for resources on how to prepare for a NetSuite implementation.

One of the first accounting decisions made by early-stage biotech is how the chart of accounts is structured. The chart of accounts is critical for producing meaningful financial statements - a balance sheet, income statement, and statement of cash flows. Setting up a correct chart of accounts will provide useful reports to internal and external stakeholders.

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