Netsuite: Field Service Accounting

Field service companies have unique characteristics. Whether you're involved with house cleaning, landscaping or HVAC installation and repair, you require a precise way to schedule your employees for the jobs your company gets hired for. NetSuite offers an advanced scheduling function that allows you to see a real-time map of your workforce allocation. It's also excellent at providing a clear view of your service, sales, and profitability. You can keep track of inventory you've ordered for your technicians and invoices that have been sent to customers.

The accounting functions of NetSuite provide high-level insights into your accounts receivable and accounts payable, and by drilling down and using the key capabilities of the software, it makes it easier for our team of field service firm CPAs to create a tax minimization strategy for your company which allows us to assist with the crucial aspects associated with growing your business.

Streamlining Your Invoicing Process

Customer invoicing is the bread-and-butter of your field service business. If you have several technicians, who are scheduled to work on multiple jobs during the day, invoicing customers can become a nightmare. NetSuite makes this aspect of your field service business easier and more efficient. This benefit helps make your field service company bookkeeping more detailed and accurate, ensuring that you receive payments for your services. Our field service company accountants can help you create comprehensive accounts receivable reports that can make tracking your receivables more efficient.

Keeping Track Of Your Accounts Payable

Your business is in the job of providing customers with particular goods, and/or services. Hence, it is an unavoidable part of your business to provide your customers with invoices. The Account Payable function of NetSuite helps you improve control, save time, and increase productivity. With it, you can easily retrieve bills and streamline your AP process.

You’ll also have an easier time automating your Account Payable by working with our field service CPAs. Our experienced team can assist in identifying and streamlining the unique accounts payable requirements of your business. By carefully evaluating aspects such as purchase order pricing and handling invoice processing, we can help you eliminate the need for revisions and provide a comprehensive view of your company’s AP financial standing. This helps provide more insight into your expenses and makes it easier for your field service tax specialist to create a customized tax strategy for your business.

Efficient Inventory And Supply Chain Management

NetSuite is known for being a platform that can help streamline inventory and supply chain management responsibilities. The system provides you with a global view of each unit in your inventory. Furthermore, you’ll find it easy to order and provide parts to your service technicians before they need to arrive on-site.This can give you a real-time view of your inventory status, which we can use to provide you with current financial figures related to your cash flow. With our field service CFO advisory service, you’ll have access to our field service financial advisers who can assess your systems and provide consulting on capacity or marketing pricing decisions.

It’s easy to see why NetSuite is such a useful ERP program. By assisting with your company’s daily business activities, you’ll have better control over essential elements such as supply chain operations, project management, and accounting. By utilizing the knowledge and experience of our seasoned accountants, you’ll always stay fiscally compliant. We will also provide you with the assistance you need while growing your company. If you want to learn more click the button below to schedule a complimentary discovery call.

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This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.