Implementation Design Process of NetSuite

What is the Implementation Methodology in NetSuite? 

Implementing NetSuite involves following a structured methodology to ensure a successful deployment that meets the organization's business needs. It refers to the structured approach or framework used to guide and manage the entire process of implementing NetSuite (or any other ERP system). It provides a systematic way to plan, execute, monitor, and control the implementation of a project from start to finish which Includes.  

• Engage
• Drive
• Enable
• Convert

Introduction to Implementation Design Process of NetSuite

The implementation design process of NetSuite is a structured approach to deploying NetSuite ERP (Enterprise Resource Planning) software tailored to an organization's specific needs. The implementation design process of NetSuite involves several key steps and considerations to ensure a successful deployment of the ERP (Enterprise Resource Planning) software. Here’s a structured overview of what typically happens during the implementation design process:

1. Project Phase
   • Project Phase Includes the
   • Requirement and Assessment Phase
   • Configuration Phase
   • Testing Phase
   • Hand Holding / Documentation Phase

 

2. Introduction (Company Information)

Company information is required during the initial setup and configuration of NetSuite. This includes providing details such as the legal name of the company, Company Country/State/province, Return Email Address, Business Addresses, and other key information needed to establish the foundational settings within the system. The above-mentioned fields are the mandatory fields for the company to fill out. For filling in the details, we will ask the user if they want to fill in manually or by CSV file. If they accept CSV file we will share the link with them to fill in the Details so we can fill in the system in a proper way. 

To Setup Company Information navigate to

Setup --> Company --> Company Information --> New and fill in the company Information such as Company Name, Legal Name, Company logo, Return Email Address and Currency.

 

3. Company and Organization Structure

The company organization and structure within NetSuite, we can establish a robust foundation for managing finances, such as Charts of Accounts and reporting effectively across the organization. This includes defining each subsidiary, Location, division, or branch office as separate entities within NetSuite, with their own unique identifiers, addresses, and legal information. In the Company and Organization Structure we need to Implement

• Subsidiary and Intercompany Relationships
• Department and Location Structure
• Currency

 

What are Subsidiary and Intercompany Relationships?

If the organization operates multiple subsidiaries or has intercompany transactions, we need to configure NetSuite to handle these relationships effectively. This includes setting up intercompany accounts, establishing transfer pricing rules, and enabling intercompany transactions and eliminations as needed. To Setup a Subsidiary navigate to

Setup ---> Company ---> Classification ---> Subsidiaries ---> New Subsidiary and select the Subsidiary Name, Country, Province/State, and Parent Subsidiary.

 

What are Department and Location Structure?

NetSuite allows you to define departments and locations to represent different organizational units and physical sites within the company. You'll need to set up these structures to track transactions, expenses, and revenue by department and location for reporting and analysis purposes. Departments are categories that you can create to separate and track records like financial, transaction and employee.

To setup new Department, navigate to

Setup ---->Company ----> Department and select the Name, Subsidiary, and Parent Department.

 

What is Currency? 

NetSuite allows businesses to conduct transactions in multiple currencies. This is particularly useful for companies operating internationally or dealing with customers and vendors in different countries. With multi-currency support, we can create sales orders, purchase orders, invoices, and other financial documents in the currency that is most appropriate for each transaction. NetSuite comes pre-configured with the following standard currencies: CAD, EUR, GBP, and USD.

To setup new currency, navigate to List ---> Accounting ---> Currency and select the Name, Default Locale, and International Organization for Standardization (ISO).

 

4. Relationship

Relationship refers to a connection or association between different records or entities within the system. These relationships help organize and manage data effectively, allowing users to understand the connections between various pieces of information. Here are some common types of relationships in NetSuite.

Customer Relationship

NetSuite's CRM module allows users to manage relationships with customers and prospects. This includes tracking interactions, managing sales opportunities, and maintaining customer profiles. To setup a Customer Record, Navigate to List ---> Relationship ---> Customer

Vendors Relationship

Businesses can maintain relationships with vendors and suppliers in NetSuite, including tracking purchase orders, payments, and communication history.  To setup a Vendor Record, Navigate to

List ----> Relationship ---> Vendor ---> New and give the Vendor Name, and other required details.

 

5. Item and Inventory Management 

Item Inventory and Management refers to the process of setting up and managing inventory items within the NetSuite system. This involves configuring various aspects related to inventory, such as creating item records, managing stock levels, tracking inventory movements, and optimizing inventory processes. We have two types of Items

1: Inventory Item      2: Non-Inventory Item

To Setup a new Inventory or Non-Inventory Item, navigate to

List ---> Accounting ---> Items then select the types of Item Inventory or Non-Inventory Item.

Inventory Item is the type of item that we can store in our warehouse.

Non-Inventory Item is the type of item that we cannot store in our warehouse.

6. General Accounting

General Accounting refers to the core set of functionalities and processes related to managing financial transactions, recording accounting entries, and generating financial reports. Such as Charts of Account.

Charts of Account

We must create and deploy a chart of accounts that matches the financial reporting requirements of the company. This involves creating accounts for assets, liabilities, equity, income, and expenses, organizing them in a hierarchical structure, and assigning appropriate account numbers and types. To Setup a Charts of Account we can create one by navigating to-

List ----> Accounting ----> Account and create the account by selecting the Account Name, Account Type, Currency and Subsidiary. Or we can Import the account by CSV file. Customer will provide the list of Accounts by CSV file and we can Import it in NetSuite by navigating to Setup ---> Import/ Export ---> Import CSV record and select the Import Type, Record Type, then Import the CSV file, after importing do the filed mapping and then give the Import Name and save the import.

7. Purchase to Payment and Account Payable

Purchase to Payment (P2P) and Accounts Payable (AP) are key components of the financial management module in NetSuite.

 

Purchase to Payment (P2P)

Purchase to Payment refers to the entire process of purchasing goods or services, from requisitioning, purchasing, receiving, and paying for them. In NetSuite, the typical process from Purchase to Payment generally involves:

• Requisitioning: Requesting items or services needed by the organization. To Request an Item, Navigate to Transaction ---> Purchases ---> Enter Requisition and fill in the required details.
• Purchase Order Creation: Creating purchase orders to order the requested items or services from vendors. Navigation for PO is Transaction ---> Purchases ---> Enter Purchase Order and fill in the required details.
• Receipt of Goods or Services
• Invoice Processing
• Payment

 

Account Payable

Accounts Payable is a sub-ledger within the financial management module of NetSuite that manages all the financial obligations of the company to its vendors or suppliers. In NetSuite, Accounts Payable functionalities include:

• Vendor Management
• Invoice Management
• Payment Processing
• Expense Management
• Reporting and Analysis

 

8. Sales Process & Account Receivable

Sales Process and Accounts Receivable are crucial components in NetSuite's financial management module, particularly in managing revenue generation and tracking incoming payments from customers.

 

Sales Order:

Sales orders can be created manually by a sales representative or automatically generated from other documents such as quotes, opportunities, or recurring orders. In NetSuite, the typical process for Sales Orders generally includes:

• Creating Sales Order: we can create the Sales Order manually by navigating to Transaction ---> Sales ---> Create Sales Order and fill in the required details.
• Order Fulfillment: Managing the fulfillment process, including inventory management and shipping.
• Invoicing: Invoicing entails creating bills for products or services supplied to customers.

 

Accounts Receivable (AR)

Accounts Receivable (AR) refers to the module and functionality that manages and tracks the money owed to your organization by customers for goods or services provided on credit. Accounts Payable functionalities include:

• Customer Management
• Invoicing
• Payment Collection
• Credit Management
• Aging Analysis
• Collections Management
• Cash Application
• Reporting and Analysis

 

 9. Testing and Quality Assurance:

To ensure that NetSuite functions correctly and meets specified requirements before deployment Such as:

• Perform unit testing to validate individual components and configurations within NetSuite.
• Perform integration testing to validate the interactions between NetSuite and connected systems.
• Facilitate user acceptance testing (UAT) to validate NetSuite against business scenarios and user expectations.
• Document and address any issues or bugs identified during testing.

 

10. Go-live Planning and Execution:

Means preparing for the transition from the current systems to NetSuite and ensuring a smooth deployment such as:

• Develop a go-live plan outlining tasks, responsibilities, and timelines.
• Coordinate with stakeholders and end-users to schedule the deployment date.
• Conduct final data migration and ensure all configurations are in place.

 

Why Choose Blueflame Labs as Your NetSuite Implementation Partner:

Blueflame Labs is a leading service provider specializing in NetSuite implementation and consulting. With a team of experienced professionals, we offer comprehensive solutions tailored to your specific business needs.

• Deep Expertise and Experience: Our team of certified NetSuite consultants has extensive experience in implementing NetSuite solutions across various industries.
• Customized Solutions: We tailor our approach to your specific business needs, ensuring a successful implementation that delivers maximum value.
• Proven Methodology: We follow a structured methodology to guide the implementation process, ensuring a smooth and efficient transition.
• Comprehensive Support: Our ongoing support services help you maximize your NetSuite investment and address any challenges that may arise.
• Focus on Results: We are committed to delivering measurable results and helping you achieve your business objectives.

Contact Blueflame Labs today to learn more about how we can help you implement NetSuite and transform your business.