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Routable: Scalable AP Automation

NetClose by Netgain – Accounting Close Toolkit

Status: Unverified

Bring close management into NetSuite with NetClose by Netgain. Save time and headache by improving account reconciliation speed and accuracy, and putting your close checklist where your financials already are. Cross team visibility shows you what’s done, helps you see the gaps and easily identify outstanding risk.

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Description

NetClose helps accounting teams close books.

NetClose helps accounting teams close the books. Automating and simplifying repetitive monthly tasks helps accounting teams stay compliant and deliver timely financial information to organization leadership faster than ever before. Automated reconciliation and accounting task management keeps the work within NetSuite where it belongs. NetClose allows teams to seal accounting close and reconciliation documentation each month with a full audit trail, creating unparalleled security and accountability.

Key Benefits

Save time every month 
• Automated reconciliation makes each monthly close quicker
• Workflow management notifies team members when their tasks are ready to perform
• Links from tasks to documentation, SOPs and NetSuite capabilities speed up tasks every month
• Reduce repetitive tasks so accountants can focus on critical activities

Confidence in the close  
• Automated reconciliations reduce human error
• Utilizes native NetSuite permissions and audit trail
• Flux analysis helps tell the story behind the numbers
• Simplifies management of sign-offs and certifications
• Tracks and reports on key controls


Keep all financial data in the ERP, where it belongs  
• Direct links to GL and source transactions
• 100% drill-down capability
• Capture financial and non-financial data
• Real-time visibility

Key Features

• Automated reconciliation and substantiation
• Accounting close, consolidation and reporting task management
• Accounting procedure tracking and documentation
• Key control tracking through native NetSuite roles and permissions
• Certification process management within ERP
• Financial fluctuation and analysis documentation

FEATURES

Automated reconciliation and substantiation

Automates the reconciliation process required to close the monthly books. Using a set of configurable rules, NetClose reconciles supporting details with the transactions in the general ledger using existing details recorded in NetSuite, either completing the entire reconciliation or creating a list of remaining transactions to investigate. The results can then be substantiated and prepared for certification.

Accounting close, consolidation and reporting task management

Comprehensive workflow tracking manages your key tasks associated with accounting close, consolidation and reporting. Create monthly, quarterly, or annual close tasks from pre-defined templates to quickly setup your close checklist each month. Tasks can be assigned an owner, due date, and more, while being linked directly to the accounting procedure documentation  within NetSuite. Embedding this system in NetSuite also allows NetClose to link to relevant screens in the ERP.

Accounting procedure tracking and documentation

Connects close checklist items to relevant accounting procedures allowing direct access to procedure documentation on each close task.

Key control tracking

Native NetSuite roles and permissions allow you to design and track approvals and key controls, enabling complete visibility into who performed any task and when it was completed, before the books are locked each month.

Certification process management

Tracks, manages and reports certifications related to business operations or the integrity of processes within the ERP.