NetSuite – Our Offering

netsuit

NetSuite implementation project includes a simple and fast process of NetSuite implementation as a financial system for the organization including all features required for financial Management:

  • Order to cash (O2C) – out of the box functionality, O2C process flow, items catalog and 4 templates
  • Procure to pay (P2P) – out of the box functionality, P2P process flow, items catalog and credit card expenses. 
  • Intercompany management.
  • Bank management
  • Revenue recognition straight line. 
  • GL management – chart of accounts, segmentation, currency configuration, amortization schedule, 
 cross-company (up to 2 subsidiaries – Israel + one foreign), multi-book, connection to salary systems, roles and permissions and out of the box reporting.
  • The project includes data migration (up to 2 sessions) and system training (3 sessions of 2 hours each)

 

The process includes the following steps:

  • Discovery meeting
  • System Demo
  • Implementation + Ongoing support PO
  • Licensing PO from Oracle
  • After signing – design sessions, building the system, training and deployment
  • Go-Live 

 

Our NetSuite Products:

(1) NetSuite Localization – Fixed Assets Management: 

Report Yud Alef Form directly from NetSuite

Module provides you an easy to manage single version of the company’s owned and leased assets, a flexible depreciation and amortization schedules, seamless integration with NetSuite core accounting functionality including multiple depreciation calculation types, handling of depreciating and non-depreciating assets, maintenance schedules, lease accounting and insurance.

However, NetSuite localization does not include fixed assets “Yud Alef Form. iCloudius has developed the option to generate the annual statutory fixed assets report to the IRS (Yud Alef Form) directly from NetSuite.

To manage all your group assets in one place you need our iCloudius’ “Yud Alef” functionality feature* on top of NetSuite localization module to complement your capabilities. iCloudius “Yud Alef” functionality feature is based on: Subsidiary, Accounting book and Start date/End date.

(2) Israel Invoices Model – Allocation Number

Finance Manager/CFO?  Do you use NetSuite in your organization?

From May 5, 2024, businesses that receive tax invoices in an amount exceeding NIS 25,000 can clear the input VAT only if there is an allocation number to the invoice.

So if you issue invoices to customers or receive from your supplier invoices of such an amount, you are required by law to comply with the terms of this outline regulation.

So how do you deal with it?

We already have the answer for you:

Using our iCloudius’ solution that supports Oracle’s official NetSuite localization, the system will perform the process for you automatically and you will receive an allocation number for the relevant invoices without you having to deal with it.

It’s that simple – the system will do what it needs to do to manage with this new regulation.

Want to hear how?

Contact us and we will be happy to explain and help!

(3) Secure electronic signature module – Fast, Simple and Safe!

The purpose of the electronic signature law is to achieve increased legal certainty by using electronic tools to create secure documents that are legally valid according to the threshold conditions for a secure signature. 

The electronic signature module of NetSuite enables a one-way link between the party signing the electronic message and the message he signed and also allows checking whether changes are made after signing. All this is done automatically by the NetSuite system without the need for special manual actions.

The following steps are included in the process of the module:

  • Sending an electronic document by email to the customer
  • Signature by an authorized signer (private key)
  • Sending the signed document back 
  • Signature by an authorized signer. Receiving the signed document back and checking it with a signature verification method (public key)

(4) iCloudius’ NetSuite Bulk Payments Automation

  • Do you work with Leumi or Hapoalim? 
  • Do you have international vendors which require foreign currency payments?? 
  • Raising manual transactions one by one has come to an end. 
  • Join the Netsuite revolution and use the “Masav Matach” format for foreign currency transactions.

Group your bill payment transactions in multiple currencies into one compatible file transmitting from your Netsuite ERP to the bank in a batch payment file: 

  • Cut the manual work 
  • Save valuable time and resources 
  • Decrease mistakes due to manual inputs 
  • Improve efficiency and payment speed