Ask any accountant from any organization around the world – regardless of company size – which tasks they are least likely to look forward to, and you can be certain the vast majority will say closing accounting periods! The good news: given the importance...
With companies transitioning to NetSuite ASC 606/IFRS 15 accounting software standards, NetSuite will have to accommodate both the new and old accounting standards in the system for existing customers who are in the midst of transitioning. Time to read: 6 minDrink...
Purpose of Netsuite 1099 Misc Reporting In general, payments made to non-employees/independent contractors in excess of $600 within a calendar year must be reported to the IRS. This is done by filing a 1099-MISC form. If a business needs to file more than 250 forms,...
Large public companies, most notably Verizon and Workday, have been preparing for what has been considered one of the most historic accounting changes to hit the market in decades (Forbes), NetSuite ASC 606/IFRS 15. Verizon has been preparing for this transition over...
If implementing ERP software is like building a new house, the general ledger is the pillar of your new home. Let’s face it, what’s the point of building a new house if it’s not going to stand on a stronger, sturdier foundation? Remember those General Ledger (GL)...
