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How to Request Your NetSuite Release Preview Account
NetSuite has announced they will begin providing customers with access to Release 2020.2. Like usual, upgrades to Release 2020.2 will take place over the next three months, from mid-August through mid-October. But something has changed! As of this week (July 27, 2020), you can request a NetSuite Release Preview Account – at no additional cost – to prepare for Release 2020.2. We suggest you take advantage of this! You can start to familiarize yourself with new features ahead of time and also verify that your business workflows will continue to perform properly in the new version. How do you request one? Have your NetSuite Admin go to Setup > Company > Release Preview. From there, click Request Release Preview. Your Admin will receive an email when your Release Preview Account is ready to use, typically within 3 – 5 days. Check your dashboard. The following 2020.2 Release information will be […]
Top 10 Features of NetSuite 2020.1 Release
The NetSuite 2020.1 release ushered in an impressive list of new features and enhancements to existing. The list is long, but we’ve highlighted ten features worth knowing below.   Banking NetSuite 2020.1 has vastly improved banking integration. It is now easy to configure a direct connection to your bank and pull statements in real-time, making reconciliation a breeze! This feature works out of the box with most major U.S. and Canadian banks. (A custom plug-in is needed for banks in other countries.)   Users with multi-subsidiary customer and vendor accounts can assign a primary bank to each subsidiary. This allows for greater control and segmentation.   Inventory Management Supply allocation enhancements make NetSuite an excellent tool for high volume and bulk shipping organizations. Users can easily control inventory allocations from Purchase Order to Sales Order to Fulfillment. A new dashboard allows you to control and redirect inventory across your entire […]
Creating Powerful Reports Real-Time in NetSuite
Server crashes. Excel spreadsheets. Manually aggregated data. Human errors. Disparate systems. These are just a few struggles that exist with reporting today. Here comes, NetSuite. NetSuite provides a modern reporting experience that isn’t just quick and accurate; it’s easy and can be automated too. Whether you’re looking for at-a-glance Executive Financials or in-depth forecasting of Item Demand, NetSuite has you covered. It offers the power of built-in, real-time dashboards, reporting and analysis across all the integrated processes within the software suite. Let’s take a quick tour of what capabilities NetSuite has.   Dashboards and KPIs NetSuite’s dashboards and reporting capabilities allow you to monitor, report and analyze your organization's performance real-time. Every stakeholder from executives to department managers has access to personalized reports with the information they need to make decisions. Best of all? They’re easily configurable, customizable and can be displayed in 19 languages including Chinese, Japanese, French, German […]
Top 6 criteria for implementing NetSuite with a trusted partner
Here at FMT, we get 2-3 calls a week from companies in the middle of their phase one of NetSuite implementation asking us for assistance. The calls usually go the same way: “We burned through 70% of our budget, only completed 15% of the implementation”, or “we selected the wrong implementation team”. NetSuite is a powerful ERP platform that can help transform your business but if you don’t select the right implementation partner, chances are, you will be one of those weekly calls. In this blog, we will go over the top 6 criteria to consider before deciding on your next NetSuite trusted partner.   Vertical Expertise & Reference FMT specializes in wholesale distribution and manufacturing and has the NetSuite references to prove it. If the partner you’re speaking to does not understand your business, how can they help you be successful? If they don’t have happy clients willing to share […]
Saved Searches: Powerful and Underutilized
If you’re a NetSuite user or know much about NetSuite, you are probably aware that the software’s largest and most compelling feature is the single database model that is accessible by all users from anywhere in the world (as long as you have an internet connection). This means you can utilize the power of saved searches to retrieve updated information about any record at any time! This article will explain what saved searches are, what they can be used for and how you can use them more effectively and instantly become more efficient.   What are Saved Searches?   Saved searches are reusable search definitions that can have many advanced filters and display options for the results. Keep in mind that each time a saved search is run, the search will query the database and return current information. If data is being changed that might affect your search results, you […]
[Video] NetSuite Year-End Close
Closing out the year can be a challenging exercise that even the most seasoned accountants face with some apprehension. Watch this NetSuite year-end close training session to run through a winning approach for the big event!     Hopefully this video helped you learn a few tricks to help you during your year-end processes. If you have any additional questions, or need further assistance with your NetSuite solution, please feel free to let us know by filling out the contact form below. Looking for more resources? Download our NetSuite Year-End Close Manual Get  30 pages of step-by-step instructions and screenshots on how to close the books in NetSuite.  
ASC 606 and the impact on your business
The ASC 606 revenue recognition standard represents the most widespread change to revenue recognition rules in recent years. Effective Dec. 15th 2017 (nonpublic companies have an additional year), the new regulation was created to replace the industry-specific guidelines with a single standard across all industries. The implementation of new comprehensive revenue recognition guidance brings monumental change to how companies account for revenue and disclose revenue related information. The core principle underlying the guidance in ASC 606, included in ASC 606-10-10-2, states “recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.” Below are the 5 steps of contract creation within the guidelines (with certain exceptions) of ASC 606.   1. Identify the contract(s) with a customer. A contract in the ASC 606 guidelines applies to […]
Renaming Records in NetSuite
One of the most important features in a CRM or ERP software service is to be able to make customizations with ease. In this article, we will go over renaming records in NetSuite, to change the names of your records and transactions from NetSuite's default names to names that fit the terminology of your company.   The ability to customize fields, centers, tabs, and records in NetSuite allows any company to make their NetSuite environment custom-tailored to meet their business needs.  Specifically speaking, one of the first action items a company steps through during their NetSuite implementation is reviewing the default terminology used in NetSuite (Setup > Company > Rename Records/Transactions) For example, service companies may consider their “customers” as “clients.”  By simply adjusting the record name on this setup page, NetSuite will adjust all non-customized records, transactions, and page names accordingly.  Using your company’s terminology in NetSuite can facilitate […]
From AdWords to NetSuite - Implement Pay Per Click Campaign data into CRM
Who uses NetSuite? NetSuite provides a full CRM (customer relationship management) and ERP (cloud-based enterprise resource planning) technology solutions. A traditional answer would be sales and accounting. But business has changed a lot in the past two years, in particular, marketing. There has been a rise in machine learning automation as opposed to rules-based. This helped search engine marketers adopt Programmatic Marketing and use automated bidding or Real-time Bidding (RTB). Business collaboration and connection are replacing hierarchy and bureaucracy. So the challenge that digital marketers are facing is integrating SEM data into NetSuite for full sales cycle visibility. With a custom integrated marketing solution, you can now import Pay Per Click data directly into NetSuite CRM. Adding fields like campaigns and keywords with metrics like clicks, costs, and conversion rates add valuable insight into the lead generation process. This allows development of robust reporting within a single software solution.    PPC advertising is […]
New SuiteBuilder Features in NetSuite 2017.1 Release
With the release of 2017.1, we can look forward to a host of new features to add to the existing NetSuite system we all know and love. While NetSuite will be buffing up across the board, this blog will focus on updates to SuiteBuilder, NetSuite’s built-in collection of tools allowing “point and click” customization of the user interface without the use of sophisticated technical skills. 1.Printing Saved Search Results in Advanced PDF Templates Advanced PDF templates can now be linked to Saved Searches. There will be a “New Template” button located under Customization->Forms->Advanced PDF templates that will allow you to choose from a list an of available Saved Searches to link to. Additionally, when creating a saved search, you will see the option to create a new linked template when viewing the search in ‘Edit’ mode, as shown in the third screenshot below. Once you have linked a template to […]
FMT Consultants, a Leading Technology Partner, Announces nVerge 2017 - a One-Day Conference Featuring Microsoft, NetSuite, SAP, and IT Solutions
nVerge 2017 takes place on May 25th in San Diego, CA and offers 24 educational sessions, a keynote on leadership, an ongoing exhibition with software vendors and IT service providers, and networking opportunities.   FMT Consultants, a leading San Diego and Los Angeles-based provider of technology solutions, announces nVerge 2017—the fifth installment of its annual event.   nVerge 2017 is a one-day technology conference focused on helping business executives and end-users navigate the changing technology landscape—and understand how they can leverage technology to drive revenue, reduce cost, and increase customer acquisition.   During the one-day conference, attendees can choose from 24 educational sessions on Microsoft Dynamics 365 (CRM) & GP, NetSuite, SAP Business ByDesign, Microsoft SharePoint, Business Intelligence solutions, Microsoft Office 365 and Azure Cloud. For a full agenda visit http://www.nVerge2017.com.   The agenda also includes a keynote from Dr. Victoria Halsey—Vice President of Applied Learning, The Ken Blanchard Companies—on […]
[Live Event] NetSuite Tips & Tricks
NetSuite User Group will be featuring FMT Consultants at upcoming live event   On January 19, 2017, we will be hosting a featured presentation at the San Diego NetSuite User Group event. During this session, we will be discussing tips & tricks on optimizing your NetSuite development. A few key topics we will be covering include:    Hidden powers of global search How to automatically send customer statements On screen alert messages your users can't ignore And more tips from our team of consultants!   We invite you to join us for this special presentation and network with like-minded NetSuite individuals. This event is completely free of charge, and we'll even throw in some beverages and hors d'oeurvres! If you are interested in attending, please RSVP here. Space is limited so don't wait till the last minute!   Save My Seat →
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