keystonedata-reg-300x138

Another successful year

As we start into our fourth full year as a NetSuite Solution Provider we reflect upon another successful year. We have helped four companies go live with NetSuite, added six new clients for whom we have delivered a range of services as well as adding to our number of NetSuite connector for google apps clients.

Financially the business has nearly doubled in terms of turnover and increased profitability. Keystone Data has employed two new members of staff and extended our relationships with third parties to deliver the increased services.

2017 should be an interesting year as Oracle Corporation start to absorb NetSuite. We are very excited to see how 2017 pans out and wish all our clients and associates a successful New Year.

Sun Branding

Sun Branding Solutions – Project Completed

Sun Branding Solutions , a subsidiary of Sun Chemicals based in Bradford Yorkshire, have gone live with NetSuite after a lot of hard work from the Keystone Data team working closely with the team from Sun Branding.

Together we have implemented NetSuite Advanced Financials and OneWorld to replace a number of different products and internally developed software and provide a common fully integrated solution and provide a number of benefits.

netsuite-accounting-3

Vertical market sub-listing

One of our clients wanted to be able to record vertical markets in a hierarchy. For example Retail with sub lists of hardware shops, supermarkets, specialist shops etc

The vertical market field provided as standard in Netsuite does not directly support this and we considered the option of a coding system to provide it.

For example:
20 any retail
21 hardware shops
22 supermarkets
23 specialist shops

But we thought this could get rather cumbersome and would require a lot of consideration to ensure the coding system supported the sort of vertical markets likely to be wanted.

Another option considered was to implement a bespoke solution with a custom field but we always prefer to avoid bespoke or customisation when possible,

We then realised that the free official bundle ‘enhanced sales center’ includes a field ‘industry’ and that this supports sub listing.

The further advantage of using this field is that the ‘vertical market’ field can now be used for other important characteristic about customers that is not recorded in any other standard field.

vertical markets sub-list

Eassy Composites

Easy Composites go live

Easy Composites, the Stoke-based supplier of a huge range of advanced composite materials with associated services to businesses and end users has gone live with its NetSuite implementation project.

This project included the using our JCatalogue product to re-site their website integrated with NetSuite and customisation functions.

The customization included a range of tailored user interfaces in the warehouse and customized dashboard information. Because Easy Composites supply products that fall under the Dangerous Goods Act we also included customizations to auto calculate suitable packaging for orders containing dangerous goods and auto generates highly accurate Dangerous Goods notes and Commercial Invoices.

Future ERP Solution

Ensure your chosen ERP solution doesn’t limit your company’s future

Implementing a new ERP system is costly and disruptive for any organisation. For any established organisation with more than a few users we find it takes at least a year between the time the organisation decides to implement a new ERP system and the date when the system it satisfactorily implemented – and the more established the organisation the longer the timescale is likely to be. During this time, apart from the time required by the people (including senior management) directly involved in the process, the organisation as a whole tends to be affected by the uncertainty and disruption.

 

Therefore, if possible, such a process should be undertaken less than every ten years. But how do you select one that will last that long bearing in mind how difficult it is to predict the shape of your organisation over that time.

 

What sort of changes should you be thinking about?

 

Size of company?

 

Most companies have at least broad growth plans in terms of revenue and profits over a ten year timescale but what will that mean in terms of number of users of your ERP system? The growing trend to outsource so much could mean that you actually reduce your numbers of users whilst growing the company.

 

Check whether how the system you are considering copes with significant changes in numbers of users. Some systems can only support a certain number of users and require an upgrade to a different product to extend the number of users. Beware that this ‘upgrade’ may well mean a completely new system with different interfaces and processes, your supplier may only charge the difference between the old and new system but the process of ‘upgrade’ can be as challenging as implementing a new system.

 

What happens if you reduce your number of users? Will you still be paying for support of your original contracted number of users?

 

Where will your users be located?

 

When first choosing an ERP system it may be that the company and all your users are located in one office, factory or warehouse, but will that always be the case? What happens if you want to open an office in some other part of the UK? What happens if you want to recruit a number of staff working from home? What if you want your sales or service staff to have access to your system whilst on the move, in a customer’s premises or whilst having a break in a cafe etc?

 

Might you expand the business abroad?

 

How does your chosen ERP system support a global business? It probably can support a variety of     currencies, but does it support the local legal or accounting requirements, does it support local sales tax or VAT?

 

What about the local language? Is there is any support locally? Are there any constraints on how the system is made available locally?

 

Will your business change its focus?

 

Very few businesses retain their business focus over a period of ten years. Businesses that may start as manufacturers will often develop an associated service business. Over a period of time the service side of the business may overtake manufacturing in terms of revenue and profit. Will your chosen ERP solution provide the functionality necessary to support such a change?

 

What happens if you change your focus from consumer to business to business? What happens if your business model changes from being the supplier of standard product or service to being project based?

 

Do you really want to have change your ERP solution any time you adjust your focus or do you want to end up buying different systems for particular specialisations?

 

Does your chosen ERP package cope with such changes?

 

Of course it all depends on which package you are considering. Let me give you the answers that we could offer for NetSuite.

 

Size of company?

 

NetSuite is a true software as a service (SAAS) solution and there is no maximum number of users supported. Furthermore, there is no maximum to the number of transactions that can be generated at any time no that can be stored.

 

These lack of restrictions are because NetSuite was designed as a SAAS and also because it uses the Oracle database which is designed for high usage, good throughput and reliability.

 

Changing the number of users is merely a matter of discussing with NetSuite or your Solution Provider. It will result in a change in your payment but no change in your implementation so no need for any customisations to be re-worked or your users to re-learn. A reduction in your number of users (perhaps you decide to outsource warehousing or manufacturing) will result in a reduced annual invoice again with no change in the service you see.

 

Where will your users be located?

 

As a true SAAS solution with no requirement for any client software on the user access system (note the mobile apps are an optional alternative means of accessing NetSuite), any user with access to the web can access NetSuite (subject of course to logins and security). This means that your ERP solution would not restrict you in any way should you wish to open new offices anywhere in the world, allow users to work from home or have access while ‘on the move’.

 

Might you expand the business abroad?

 

NetSuite is currently deployed in over 160 countries supporting 19 languages (including Japanese and Mandarin) and over 190 currencies. Deployment means that country-specific customisations are available to ensure the system meets the tax and accounting requirements of these countries.

 

If a client wishes to open a company in a country not currently supported either NetSuite or the relevant Solution Provider would be able to make the customisations necessary to meet that country’s rules.

 

Will your business change its focus?

 

NetSuite has been implemented by a wide range of business. Whilst most of the early NetSuite users were manufacturers or in wholesale and distribution, there has over the last five years or so been a great deal of emphasis on the service sector (including service industries like software or financial services who typically have complex recurring revenue models), retail and the not-for-profit sector.

 

The modules within NetSuite have a common interface and users’ access rights can easily be changed to allow them access to any particular module. In some cases the module will need to be purchased from NetSuite separately but this can be achieved quickly with no change to your current system. The exception to this is OpenAir which was developed by a third party and linked to NetSuite.

 

In addition there are over 300 SuiteApps developed by third parties and checked by NetSuite – some of which can be bought directly from NetSuite. This list is not exhaustive as many Solution Providers have developed software to add value to NetSuite but not yet gone through the process of making them SuiteApps (for example our NetSuite connector for google apps). Furthermore there are a number of add-on software products that have been connected or integrated with NetSuite.

 

The way in which NetSuite has been designed allows customisation and add-ons without compromising the core system. In fact the core system is not available for third parties to change. This means that a NetSuite instance can be customised and still be fully supported by NetSuite on the latest release to take advantage of enhancements and corrections.

systems int

When it comes to systems integration – keep it simple

Sometime when clients ask us to integrate NetSuite with another package they ask for a tight integration because they believe this will ensure that using the resulting integrated solution will be easier for their users.

For our technical staff it is sometimes tempting to want to undertake a such an integration as it may be more interesting to develop. But from my experience I would always suggest to a client that they keep any integration as simple as possible for a number of reasons.

Firstly the more complex an integration, the more difficult it is to define and design a solution that delivers what users believe they want and what is realistically achievable.

Secondly it follows that it is hard to develop and test and therefore to create a reliable solution. Devising the sort of testing necessary for the users to do is tricky, therefore it is likely that problems will emerge during live running.

Thirdly a more complex integration is more difficult to maintain and any problems in live running may prove hard to analyse and even harder to correct and re-test.

Fourthly a tightly integrated solution (for example where one package is adjusted to use the other package’s product file) may well have problems when either package is updated. At least whenever a new version is introduced, the integrating solution provider will need to consider the potential for issues.

Fifthly the thorny issue of determining the cause of a problem is exacerbated by tight integration. I always think it a good idea for a client to consider who will be responsible for determining what element in the system is causing the problem and have a support contract in place with that party which specifies this role. It is also a good idea to have all other supporting parties agree to respect the ‘problem identifier’ (with all necessary caveats). Many clients do not appreciate that this role is required and can be time consuming. They may be reluctant to pay for such a service, but without it the user client (probably without the necessary technical knowledge or skill) often has to spend time negotiating between suppliers to prove where a problem lies and establish responsibility.

In summary, I suggest that for most integrations the apparent time saved in user tasks by a tight integration is likely to be lost in the time involved in accepting the specifications, testing and accepting the more complex solution plus in time lost due to greater system downtime and discussion with suppliers about problems experienced during live running or when a new version of software is made available.

cloud network server

What is cloud ERP software?

In this article I shall define first ‘cloud based software’ and then ‘ERP software’. These definitions will help an organisation when seeking a cloud based ERP solution to consider carefully what they should expect from such a solution and whether the offerings being proposed really meet their expectations.

What is cloud based software?

We have identified five key characteristics of cloud based software.

1. Runs in a ‘cloud computing’ environment.

Cloud computing offers an environment in which an application is not restricted to a single piece of hardware. Instead the application can scale on demand to utilise an optimum amount of memory, processor power, disk space and bandwidth. As you can imagine such an environment provides a much improved level of protection against issues caused by a failure in a single piece of hardware or network connection.

Cloud computing is therefore not the same as the ‘bureau’ type services offered by many service providers where they will house a given amount of computing capacity for a client, servicing it so that if it fails it can be recovered.

This is particularly important for cloud based ERP software because such software runs all or most of the key functions of a business, for many businesses if their ERP system is not available the business stops: orders cannot be taken, invoices can’t be raised, the factory doesn’t know what to make etc etc.

2. Can be accessed via an Internet browser

Any software solution that requires client software, usually running on a PC or Mac, cannot meet this criteria. Cloud based software should be accessible from any device that can access the web via an Internet browser. Preferably there should be no limitation on which browser can access the software, although that condition is not mandatory.

One of the restrictions with software that requires client software is that access is is inevitably limited to devices that have the correct version of client software on them. Another issue is that any updates to the server based software may well require that the client software is updated at the same time. If client software needs updating this may mean that the operating system and any other environmental software (including browser perhaps) may have to be updated in order for the client software to be installed successfully.

Cloud based software should overcome these needs to maintain specific software on a range of user devices by not requiring client software to run on them but rather allowing access from any Internet browser.

For many organizations these feature of cloud based ERP is key because it enables personnel to access their system wherever they are, it also reduces the need for specific devices with particular software (a cost that’s hard to quantify or control) and enables them to allow their customers,
suppliers or partners access to relevant parts of their ERP system.

3. Software is automatically updated to latest version

Another characteristic of cloud based software is that all clients should be using the same underlying code. In order to meet this characteristic the software must, if it is to allow customisation, have a well-designed customisation system to enable clients to add or adjust aspects of the system to their needs whilst ensuring they can still access the latest software.

In other words it must not be possible for clients or software houses to change the underlying code – any customisation must be controlled in such a way that they can be carried forward with latest versions of the software without compromising existing features or functionality.

This characteristic is crucial for cloud based ERP software for a number of reasons. Firstly there are good reasons why the software will be customised: to meet the needs of a particular country, vertical market or client. Secondly ERP is such a wide ranging software system that any package is bound to need to be updated regularly to meet changing or additional market demands.

4. Reliable message queuing

Message queuing allows software to integrate with other systems and for tasks to be scheduled. Reliable message queuing is a characteristic of true, good quality cloud based software ERP system. It requires firstly sophisticated software especially to handle errors or problems that occur it the middle of an integration or scheduled tasks to be able to roll back or restart the task with integrity.

Secondly a cloud based software solution can be monitored by experienced personnel to resolve any issues that arise very quickly, thereby minimising their impact. An on premise system has the problem that if for example an overnight task fails, there is unlikely to be personnel available to correct the processes. A ‘bureau’ type solution has the issue that the local staff are unlikely to be sufficiently aware of the technical details of each client’s system as each client is likely to have their own version of the customised software – see above.

This issue is very important for cloud based ERP software because ERP systems will run a number of scheduled tasks, some of which users may not be aware of, and will often be integrated to other systems. Therefore reliable message queuing is essential for ERP software solutions.

5. Maintain highest levels of security

Any software solution needs appropriate levels of security to ensure that sensitive data is protected but a cloud based software solution available to many clients requires extra protection. The nature of such software solutions means that it is probable they will offer much higher security than an on premise or customer specific ‘bureau’ because the cloud based solution provider is responsible for the total environment and can afford to use the best security facilities available and employ security experts.

Security is particularly important in cloud based ERP solutions because clients are holding so much of their information on such systems, sensitive data about their finances, inventory, customers and personnel.

What is an ERP software package?

There are a number of software offerings in the market that are called ERP. These range significantly in functionality and design. Some offerings are not really packaged software, but better described as ‘reusable modules’ in that each client runs with code that is importantly different from other clients.

Any offering that is termed ERP must have a wide range of functions and I would argue should share a common database and ‘look and feel’.

Wide range of functions

Any ERP software package must include as a minimum accounting, sales and purchase order processing and inventory management. Most clients also expect and need, sales and marketing management modules including CRM.

Many clients want to link their web with their traditional ERP functions so that for example new products or services can be added to the web seamlessly, current inventory levels or customer status details are known to the web.

Manufacturers or businesses that assemble products require at least some of the following functions: MRP, work orders, production engineering, shop floor control, manufacturing cost control.

Service organisations (or those that sell services as parts of their overall business want to include at least a support function and possibly project management and time management modules. More sophisticated professional service businesses are looking for a complete service resource planning capability.

Common database and ‘look and feel’

Many systems marketed as ERP software packages are actually a number of disparate modules that have been linked in some way. Often the CRM and sales and marketing functions will have been developed by a different organisation from the accounting and order processing functions.

This may have an advantage in combining multiple ‘best of breed’ packages and in reducing the development time for the package as a whole but has distinct disadvantages.

One major disadvantage is that data, for example customer data, will be held in more than way and can potentially be updated by more than one disconnected process. It is therefore necessary to regularly check that each database is consistent and, when differences are found to make decisions about which data is correct. This may sound straightforward but it can be a time-consuming process.

Another disadvantage is that gaining a full view of for example the current customer or supplier position may be difficult and require a software programme to run which combines data from different systems. This means that the view is always potentially out of date.

Having a different ‘look and feel’ across the package has the disadvantage that staff who need to access more than one module have to learn and remember more than one interface. This will result in a longer learning curve and may result in more input errors.

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Is your business ready to implement an ERP package

When implementing an ERP package we find that whilst businesses that have been in operation for just a few years usually can implement relatively straightforwardly. On the other hand businesses that have been around for many years are likely to experience a number of challenges.

From our experience I think businesses need to be able to consider the following four key questions in order to maximise their chance of a successful ERP implementation, regardless of which ERP package they have chosen.

Are you clear how you want your business to run?

 

When implementing an ERP package there are many choices to make so that it is important to have clear how you want to run your business. Most decisions can be adjusted later but such adjustments often have implications regarding historical data and many businesses are reluctant to change a system once it is in operation.

Are you (and your staff) really clear what sort of business you are in?

Are your main customers businesses, government or non-profit making bodies or consumers? Maybe a combination of all three? If so, which type of customer is most profitable?

Maybe you are moving from one type of customer to another. Are your customers mainly UK based?

Do you sell directly to customer or through partners, distributors, retailers or other third parties?

Are you services or product led? If services led, do you sell predefined packaged services or design a service for each customer?  Do you know which services are most profitable?

If you are product led – do you design, develop, manufacture or source products from third parties? Do you determine your product set and sell them or do you design or customise a product to meet a customer need?

Do you have many suppliers or a few key ones? How close is your relationship with suppliers and how close do you want it to be?

How ready are you for a new system?

 

You may feel certain that you want a new packaged solution and that you know what you want from such a system but have you considered the impact on the organisation of a new system.

What happened with earlier systems (bespoke or packaged)?

How successful were the implementations – think about both the project and the experience of running live. What problems did you have? Have all problems been ironed out?

Consider whether you have had problems with multiple solutions – if so, what mistakes could you be making in terms of selection (software and Service Company)?

If you have experience many problems, consider the possibility that the issues lie within your organization rather than the solutions chosen or the IT company who implemented them for you.

Is your business inclined to abdicate responsibility for implementing and using software solutions? Do you tend to expect the software and external service provider to resolve all issues?

Such an approach is unlikely to result in a satisfactory implementation regardless of the competence of the external service provider or the quality of the ERP package.  The success of any ERP (or indeed any complex software solution) implementation is dependent more on the organisation using the system than the system itself or third parties.

 

How receptive is your staff to a new system?

 

In any organization that has existed for a number of years, the staff are likely to be used to certain software systems. They will probably have ‘developed’ their own work arounds for any short comings including the use of spreadsheets and complicated manual processes.

If the software is mainly bespoke, especially with an in-house team or friendly local small software house, some of the staff will feel ownership and affection for the software.

These attitudes and feelings can be very deeply ingrained and make it hard to introduce a new packaged ERP solution that will impact all staff in the business. It is essential that a business recognize such a situation and address it at the earliest occasion. Involving as many staff as practical in the selection of the software and third party service provider can help as this could move a sense of loyalty to the new solution.

Staff may also be concerned about the impact of the new system on their jobs: what will change? will their job still exist? what other changes is the business planning?

It is natural for people to feel concern at a time of change and particularly if they do not know what is planned or why the changes are happening. Sometimes it is impossible to keep the staff fully abreast with the plans, but business managers should accept that a vacuum in information from management will create rumours and gossip that will at the very least impact on staff morale and staff effectiveness.

Finally remember that you need to release time especially from key staff to be involved in the implementation.

How good is your current data?

 

The final question we have found to be an issue, especially with more established businesses, is the quality of the data being imported from the current systems.

Implementing a new system is a good opportunity to ‘clean up’ your data, but this is a job that needs to be done (or at least managed) by staff in the business with good knowledge of what the data should be. It might be that the adjustments and ‘work arounds’ discussed above under How receptive is your staff to a new system? have hidden problems in the data that have been generated for years.

 

hints and tips

NetSuite and Training Options

The successful usage of a NetSuite instance is dependent upon the comfort and confidence customers feel using it. This means the right training. And as an organisation develops and its staff change, additional training is often needed to ensure customers are getting the most from NetSuite.

 

There are a variety of ways in which clients can acquire training, including developing their own internal courses, but when sourcing them externally there are two main sources: from NetSuite, or from a NetSuite Solution Provider. Most clients who choose a Solution Provider will use the provider responsible for implementation (at least during the implementation), but may choose an alternative for any additional training once the solution is live.

 

Training from NetSuite

 

NetSuite offer training in three ways:

1) Video or on-line free with NetSuite Answers.

2) Standard courses delivered largely on-line or via video.

3) Bespoke courses created to a client’s requirements and delivered on-line or on-site.

Below, we look at all three options in more detail.

 

Free courses available with NetSuite Answers:

 

Video-based courses can be a good way of teaching staff a particular topic. The obvious drawback to this approach is that the learning process is very much a one-way street, since their are very limited ways of interacting with a recording or receiving feedback on progress.

Nonetheless they remain a useful tool, and NetSuite provides a wide range of video-based courses that vary in time from a few minutes to 2 hours. Listed below are the categories, along with some examples of the topics covered.

 

Category & topic Number of videos Time lasted
Getting started 19
logging in and security best practices 7 minutes
administrator setup options 6 minutes
Financial management 22
period and year’s end close 2 hours
Fixed Asset reports, searches and troubleshooting 6 minutes
Order management 2
accepting deposits on sales orders 5 minutes
grid order entry for sales orders 34 minutes
Items/fulfilment/billing 43
general shipping enhancements parts 1 2 & 3 23 minutes total
work in process 21 minutes
Purchasing/accounts payable 6
multi currency vendors 6 minutes
accounts payable improvements 3 minutes
Services/resource planning 1 14 minutes
Contracts renewal 10
software industry overview 8 minutes
implementation considerations 8 minutes
OneWorld 20
multiple fiscal calendars 24 minutes
extended transaction numbering and audit log 8 minutes
Sales force automation 6
working with contacts 9 minutes
sales campaigns overview 6 minutes
Marketing 9
lead to customer life cycle 14 minutes
marketing and email enhancements 7 minutes
Support 2
file attachments on online forms 4 minutes
support and case management enhancements 11 minutes
Ecommerce 17
Ecommerce edition overview 10 minutes
google checkout third-party conversion tracking 5minutes
Saved searches and reports 21
dashboards defining user requirements 7 minutes
ODBC advanced reports overview 6 minutes
Administration/data 15
administrative notifications 2 minutes
custom mass update 7 minutes
Customisation/integration 22
SuiteScript introducing the SuiteCloud IDE 9 minutes
Sandbox deployment best practices 7 minutes

 

In addition there are a number of videos covering OpenAir, the last three new releases of NetSuite, various U.S. specific options e.g. Payroll and a number of international topics including UK online VAT filing.

 

NetSuite also delivers webinars from time to time on specific topics. Where they are felt to be useful as an on-going facility they are held on-line for later access. Currently there are 47 such webinars. These cover topics from Learn what’s new with 2015.1 lasting 19 minutes, to Building the best income statement lasting 50 minutes.

 

 

Standard NetSuite courses

 

NetSuite offers a range of standard courses, most of which are delivered on-line. Below are the ones most likely to be of relevance to a NetSuite client. These courses are aimed primarily at power users or NetSuite administrators.

 

With these “bread and butter” courses likely to meet the majority of customers’ needs, NetSuite is also on hand to help those of its customers with more specialised requirements, providing courses designed to help in configuring the system or adding little-used functionalities.

 

In both cases, clients can choose between self-study or the virtual classroom as the preferred learning method for these user-relevant courses:

 

Self-study

Self-study provides the same lecture topics, best practices and tips as provided by instructor-led training courses in a flexible format.

 

Self-Study Benefits:

As a self-studying NetSuite learner-driver, you can:

  • Access training materials 24×7 for 30 days
  • Set your own schedule
  • Validate your understanding with NetSuite Instructors

 

Virtual

The Virtual Classroom provides a rich learning experience with the convenience and flexibility of sessions scheduled in global time zones.

 

Virtual classes are designed to be highly interactive and are taught by seasoned NetSuite instructors, who are also specialists at teaching within the virtual classroom. As a cyber-student you are:

  • Encouraged to ask questions
  • Engage in text chats with the instructors or other students
  • Participate in group activities and interactions

 

The virtual environment makes it simple to share information with the class or 1:1 with an instructor.  Virtual training allows students to participate in discussions, express opinions, and even take a break just as in a classroom setting.

 

 

 

Course name Length of course List price in US $
Administration Fundamentals 2 days 1,600
SuiteAnalytics: Reports and Searches 2 days 1,600
SuiteAnalytics: Financial Reports and Searches 2 days 1,600
SuiteAnalytics: Advanced Searches 2 days 1,600
SuiteAnalytics: Building Executive Dashboards 2 hours 200
Marketing Automation Workshop 1 day 800

 

 

Bespoke Training from NetSuite

 

NetSuite’s training department can design user specific training which would usually be delivered online in the UK. It would be based on a needs analysis.

 

Training from Solution Providers

Most established Solution Providers would offer training to their clients. Some have produced standard courses that can be delivered on demand, or with some tailoring to meet a client’s needs.

 

Keystone Data, for example, has developed a standard system administration course which we usually deliver on a one to one basis. We find this enables the client to learn about the most appropriate features and gain real confidence by getting to grips with those facilities they find most challenging. In this manner, we are able to combine in a one day course the relevant features that are offered in NetSuite’s 2 day Administration Fundamentals and the SuiteAnalytics: Reports and Searches courses. Such an approach reduces the time spent training, but also eliminates the time spent learning some facility or feature that is not relevant either to the user’s company or for the specific role of the trainee.

 

We have also developed a series of role-specific courses that we tailor to meet the particular processes of a client and the individual needs of those clients’ users.

 

Whilst we typically deliver our courses on-site, we are also happy to deliver them remotely, and indeed we find such an approach can both save costs and enable the courses to be delivered more efficiently, at a time that best suits the trainee.

B3_Memorized_3

Memorized Transactions in NetSuite

If you have recurring transactions that are performed each month, you can memorize them, so that they are either performed automatically or are set up, ready for you to approve. You can memorize the following transaction types:

  • Cheques
  • Credit Cards
  • Purchase Orders
  • Purchase Invoices
  • Sales Orders
  • Invoices
  • Estimates
  • Cash Sales
  • Journal Entries
  • Statement Charges
  • Work Orders

As a services company, I memorize Invoices for clients that we provide support for. This allows me to either send invoices out automatically via email each month, or have a reminder on my NetSuite Dashboard to remind me to approve a memorized transaction that is due.

 

Setting up a new memorized transaction

It’s very simple! Just create the transaction as you normally would. For example, I create an invoice, enter the item and any other details that I’d like to be memorized next time. Instead of saving the transaction, hover over actions > memorize.

 

B3_Memorized_1

 

 

The Memorized transaction page will appear. Options available include:

  • Whether to be reminded via a dashboard reminder when the transaction is due or submit the transaction automatically
  • Frequency, including custom frequencies for performing the memorized transaction
  •  Alter the posting date of the transaction
  • Allow/disallow posting in locked accounting periods
  • Indefinite memorization of the transaction or set a number of frequencies of the memorization to occur
  • Update the addresses on future memorized transactions if the customer or supplier address changes on the customer record
  • Update the prices on future memorized transactions if the price of the item on the transaction changes.

B3_Memorized_2

 

After saving this memorized transaction, I go back to my Dashboard whereby I have set the standard reminder ‘Memorized Transactions Due’ to show me any due memorized transactions. This transaction appears here:

 

B3_Memorized_3

 

To set the reminder up, click on the hamburger icon on the right hand side of the reminders bar and click set up:

 

memorized_transaction_1

 

Click on the ‘add standard reminders’ button, select ‘memorized transactions due’ and then click ‘done’.

 

memorized_transaction_2

 

You will then be taken back to the previous popup where you can change the number of days before the due date of the transaction that the reminder pops up. Save this and then your reminder will be set up!

 

B3_Memorized_3

 

Clicking on this reminder takes you to the Memorized transactions page in which you can enter each memorized transaction to adjust the transaction before submitting or you can mark all memorized transactions to be processed. If you have multiple memorized transactions due, they will appear here.

 

B3_Memorized_4

 

Clicking submit, the memorized transactions are processed. All done!

 

B3_Memorized_5

 

 

As well as seeing all memorized transactions through the memorized transactions page, you can also see the memorized transactions on the customer record. Here, you can see the invoice that was processed (Invoice Number 047593) and the memorized transaction, in which a reminder will be displayed on my dashboard a month from now to process the transaction.

 

B3_Memorized_6

 

 

To see a list of all your memorized transactions, select the administrator role and navigate to: Transactions > Other >Enter Memorized Transactions > List. From here you can delete memorized transactions or edit them.

 

So there you have it, an easy way to process recurring transactions in NetSuite!

 

Check out our helpful Memorized Transactions tutorial video too