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Italian Accounting Localization Bundle for NetSuite

BlackLine Financial Close Automation Solution

Status: Unverified

Modern accounting begins with BlackLine. Our Modern Accounting Playbook provides leading practices and end-to-end functionality that automates and streamlines manual, spreadsheet-driven accounting processes that are performed outside of NetSuite. By implementing BlackLine’s centralized, automated system, companies gain critical, real-time visibility into their financial close while optimizing workflows, saving time, and enhancing accuracy.

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Description

Overview

Modern accounting begins with BlackLine.
Our Modern Accounting Playbook provides leading practices and end-to-end functionality that automates and streamlines manual, spreadsheet-driven accounting processes that are performed outside of NetSuite. By implementing BlackLine’s centralized, automated system, companies gain critical, real-time visibility into their financial close while optimizing workflows, saving time, and enhancing accuracy.

Key Benefits

Gain Real-Time Visibility: Access reconciliations, workflows, and close-task data in real time. Display NetSuite details securely in BlackLine to provide visibility into key financial processes, such as GL to bank statement reconciliations.

Dramatically Increase Efficiency: Automatically reconcile thousands of transactions directly in BlackLine and free up Accounting’s time for value-added analysis and strategic projects.

Strengthen Controls: Reduce the risk of traditional, manual accounting and automatically embed controls into your accounting and financial close processes.

Reduce Business Complexity: Apply leading practices to build a scalable close that is unified, automated, and continuous. BlackLine solves for your challenges today, and tomorrow.

Free Up IT Resources: Enable IT teams to work on truly critical projects instead of rote tasks, such as writing queries and importing and formatting data.

Customer Quote

“The BlackLine system can analyze multiple invoices to one payment, account for variances due to bank fees or foreign exchange impact, and anticipate independent payee assignments. And that’s just a small example of the power of its rules.”

– Patrick Loughnane

Integrating BlackLine & NetSuite

The BlackLine Connector for NetSuite automatically formats and securely imports all NetSuite data into BlackLine, enabling true data compatibility and more accurate and efficient reconciliations. NetSuite general ledger data is automatically updated in BlackLine on a schedule of your choosing. Reconciliations are also automatically decertified if they fall out of balance.

Additionally, the BlackLine Connector for NetSuite requires minimal IT resources—extract, format, and import data automatically.

FEATURES

Centralized Workspace with Automated Trial Balance Import

Spend less time with manual uploads, especially as data volumes increase, by automatically integrating dataflow from NetSuite to BlackLine. Gain one, centralized platform to manage and perform accounting work and ensure better data consistency, accuracy, control, and security.

Standardized Reconciliations with Automation

Reduce the well-documented risks of overusing Excel and automate your reconciliations. Simplify your close and save time by using expertly designed templates for each reconciliation use case and apply auto-certification and rules-based approval processes.

Highlights include:

  • Configurable task dependencies that ensure the correct sequence and roll-up of related activities.
  • Online document repository stores and protects all attachments associated with the completion of a task in a view-only format.
  • High level of configurability allows for the creation and coexistence of many different types of task lists.
  • Real-time notifications alert users to pending tasks and keep the process moving.
  • Global time zones are supported with flexible due dates, calendars, and holidays, minimizing difficulties that can arise from geographic differences.

Dynamic & Transparent Close Activities Tracking

Import or create any accounting checklist to support overall process consistency. Set up task dependencies to reduce rework and ensure an accurate and timely view of your period-end close.

Rules-Based Transaction Matching for Bank Files

Reconcile high-volume bank reconciliations automatically and shift work to value-adding analysis. In addition to pulling data automatically from NetSuite, BlackLine integrates with your banks to automate data imports.
Highlights include:

  • Powerful validation rules and relational look-up tables prevent failed journals that require follow up.
  • Configurable journal templates are compatible with different general and subledger systems and precisely capture the information needed for a particular journal type.
  • Integrated workflow streamlines and creates a full audit trail of the approval process.
  • Automatic posting and status tracking provide real-time updates.

Advanced Capabilities to Accommodate Growth

Further integrate and optimize your processes with solutions and capabilities that scale with you throughout your company’s lifecycle. For example, analyze variance trends over time and automatically create and approve journal entries in BlackLine that can be automatically posted to NetSuite.