Feb 13, 2024 Author: Accounts Junction
Netsuite is one of the excellent business management platforms that has the capability to do many business activities. However, here we will look more at NetSuite accounting software which is one of the excellent solutions to meet the accounting needs of the business organization. Netsuite is owned by Oracle Corporation and is designed to help businesses manage their key processes in a unified and integrated platform.
With NetSuite bookkeeping, it has become easier to simplify the financial record transaction activity. Many people are interested in trying out this accounting software, however, confusion about its pricing deters them from opting for it. The cost can vary based on factors such as the number of users, the modules and features required, customization, and the level of support needed.
What are the important features of NetSuite accounting software?
Some important features of the NetSuite are listed below:
- Financial Management
- Expense Management
- Revenue recognition
- Financial Reporting
- Multi-Currency and Global business
- Tax management
- Audit trail
- Integration
- Customization
- Automation
What factors affect the cost of the NetSuite accounting software?
NetSuite often uses a subscription-based pricing model, where customers pay a recurring fee on a monthly or annual basis.
Depending on the subscription opted, the cost will depend on different components like:
User Licenses
The number of users accessing the system. As the number of users increases, the pricing will increase accordingly.
Module Costs
NetSuite offers various modules for different business functions, such as accounting, CRM, inventory management, and more. The cost may increase based on the modules you choose to include as per the different accounting features.
Customization and integration
If you require specific customization or integration with other systems, additional costs may be incurred. This cost may be one-time or included in AMC.
Implementation and support
Costs related to the initial setup, data migration, training, and ongoing support. The exact cost will depend on the level of services.
Costing of the NetSuite accounting software
If we check currently, the cost of the Netsuite can be bifurcated into different aspects. The implementation cost will range between $10,000 - $100,000 [one time], customization cost will vary between $150-300 per hour, and training cost will be around $2,000.
NetSuite is particularly popular among mid-sized and larger enterprises due to its comprehensive suite of tools and the ability to implement accurate NetSuite bookkeeping. It aims to provide a single, unified platform to streamline business processes and improve overall efficiency. The features may be updated or expanded over time, so it's advisable to check the latest documentation.
To get accurate pricing information for your specific business needs, it's recommended to contact NetSuite directly or visit their official website. They may provide quotes based on a consultation to understand your business requirements and customize a solution accordingly. You also get the Netsuite pricing calculator where you can check the pricing of the NetSuite accounting software as per your requirements. Directly contacting Netsuite to know the pricing as per your requirements is always better.
If you want experts to work on your accounting task by using NetSuite accounting software, then Accounts Junction is a good choice. Accounts Junction can help you implement NetSuite bookkeeping and accounting more easily. Their team has good knowledge and experience of NetSuite. Accounts Junction is a proficient accounting service-providing agency using NetSuite software.
