If implementing ERP software is like building a new house, the general ledger is the pillar of your new home. What’s the point of building if it’s not going to stand on a stronger foundation?
If time entries are billable to the customers, some organizations choose to have an approval process as an additional step, and as users, we prefer that this system to be as friendly as possible.
It is very common to invoice on a billing schedule for customers placing large orders, which might result in different amounts being recognized as accounting revenue within a given period.
If dealing with an annual audit feels like inviting an unwanted relative to your Thanksgiving dinner, then these simple NetSuite practices will help you keep your auditors satisfied.