We are approaching mid November and while it may feel too early to be seeing Christmas displays in your favorite stores, it is not too early to be thinking about your year-end business processes. The end of the year can be a busy time for businesses, but with the right preparations it doesn’t have to be painful as well. To save you time and energy, we have compiled a list of NetSuite resources to help your year-end process run as smoothly as possible.
If you think you may need guidance or assistance with your year-end closing process, don’t wait until the last minute to seek out help. The Vested Group’s support practice, inVESTED, can offer NetSuite users personalized year-end closing advice and support to lead you through your end of the year tasks with efficiency and confidence. Contact inVESTED today to find out more about our NetSuite support offerings.
What is the year-end closing process? What are the different methods used for year-end closing? What is the difference between locking and closing the period? These common year end closing questions and more are answered in NetSuite’s Year End Closing Process FAQ document available on SuiteAnswers.
NetSuite provides users with an informative and easy to use checklist of tasks to assist in the period closing process. All tasks are completed from the Period Close Checklist page. This page also provides access to system notes and user notes related to period close. You must have Edit or Full level of the Manage Accounting Periods permission as well as the Override Period Restrictions permission to complete all tasks in this page. Click on the link above to learn more about how to use the period close checklist.
NetSuite Premier Payroll users can register for a free webinar, Prepare for Year-End with Premier Payroll 2014, offered this Thursday, November 13th from 1:00 – 2:00 pm PDT. This webinar offers an overview of how to prepare for year-end payroll-related activities. If you are unable at the time this webinar is offered, you can review the 2014 NetSuite Premier Payroll Year End Planning Guide available on SuiteAnswers.
NetSuite’s Period and Year End Close online course walks users through the process and procedures for performing a typical period and year-end close in NetSuite. Topics covered in this course include how to
- Lock a fiscal period to prevent non-accounting users from posting
- Perform the period-end checklist tasks
- Manage multiple fiscal calendars in a NetSuite OneWorld account
- Close a fiscal period and prevent any further data entry
- Manage the fiscal year-end in NetSuite
Navigate to the link above to take advantage of this informative online course.
A little planning and preparation coupled with the right tools and resources can make your year end processes run smooth and hassle-free. As we mentioned above, The Vested Group’s support practice, inVESTED, is always available to help with all of your NetSuite support needs. Not a NetSuite user yet? Not a problem. Keep in mind The Vested Group offers a full range of NetSuite consulting, implementation, and customization services so we can meet the needs of both current and future NetSuite customers. Contact The Vested Group today and discover what we can do for you!