NetSuite Frequently Asked Questions

Answered by Certified NetSuite Consultants


Welcome to our NetSuite Frequently Asked Questions page, where we address some common queries about NetSuite’s features and capabilities to help you better understand the software.

At Fusion, our CPAs have extensive experience with NetSuite accounting software. This means that we have implemented the software for businesses across various industries. In addition to this, our experts have also built bespoke integrations that align with NetSuite. 

NetSuite Frequently Asked Questions

These are some of the most frequently asked NetSuite questions our CPAs have come across.

Read the below to help you navigate the world of NetSuite with ease and clarity.

What are NetSuite Products?

NetSuite offers a comprehensive suite of business software products designed to streamline various aspects of your operations. This includes financial management, customer relationship management, e-commerce functionality, and more.

What are NetSuite Modules?

NetSuite Modules can be considered as additional functions that are purchased in addition to the standard software offering. They offer your business a more tailored solution that aligns with your unique needs. That is to say that NetSuite Modules are added ad hoc and integrated with your accounting system as your business needs change and expand.

Is NetSuite an ERP or CRM?

NetSuite is an Enterprise Resource Planning (ERP) software that also includes Customer Relationship Management (CRM) capabilities. It offers a holistic solution for managing various aspects of your business, all in one place.

mplement NetSuite successfully.

What is a NetSuite Developer?

A NetSuite developer is an expert who specializes in customizing and extending the functionality of the NetSuite platform to meet the unique needs of businesses. This means that they create tailored solutions and integrations that align with your specific business processes.

At Fusion, our CPAs have built bespoke NetSuite integrations. Contact us to find out if we can help with an integrations solution for you.

What is a NetSuite Sandbox?

A NetSuite sandbox is a safe and isolated testing environment that allows you to experiment, develop, and test configurations, scripts, and customizations without affecting your live NetSuite instance. It’s an essential tool for ensuring changes work as intended before implementing them in your actual system.

Can NetSuite Handle Payroll?

Yes, NetSuite can handle payroll through its SuitePeople Module. SuitePeople connects HR and payroll data with financial, project planning and budgeting and procurement processes. This not only offers a businesses human resources and employee management functionality, but also eliminates multiple systems.

Where Can I Find the Chart of Accounts in NetSuite?

A Chart of Accounts (COA) is a breakdown of all accounts and transactions in the general ledger of a company and organizing them into subcategories. It provides a comprehensive overview of your organization’s financial structure and account classifications and can be accessed within the Financials module. Follow the following path to access the COA:

  1. Go to Lists > Accounting > Accounts.
  2. Follow the detailed instructions as outlined in the NetSuite Help Centre.

How to Create an Invoice in NetSuite?

An invoice is a record of sale to a customer. Creating an invoice in NetSuite is a straightforward process. Within the Billing tab, follow the following path.

  • Go to Billing > Sales > Create Invoices.
  • Fill out the custom required fields, as outlined in the NetSuite Help Centre.

Our experts can also guide you through the steps to ensure accurate and efficient invoicing for your business.

How to Create an Amortization Schedule in NetSuite?

An amortization template defines the terms of the amortization schedule created by the purchase of an item.

Creating an amortization schedule in NetSuite involves utilizing its financial management tools. Follow the following path within NetSuite to begin:

  • Go to Lists > Accounting > Amortization Templates > New.
  • Fill out the custom required fields, as outlined in the NetSuite Help Centre.

Our team can assist you in setting up and managing amortization schedules effectively.

Which is better? NetSuite or QuickBooks?

While QuickBooks is suitable for small businesses, NetSuite is a comprehensive solution that caters to businesses of all sizes. This means that NetSuite offers advanced functionalities, scalability, and flexibility for growing enterprises. However, the accounting software your business chooses to use is largely dependent on your business needs and plans for growth and scalability. NetSuite typically offers longevity and unlocks added Modules as your business expands.

Which is better? NetSuite or SAP?

NetSuite and SAP have both developed widely used midmarket ERP systems. While NetSuite offers a single cloud-based ERP product, SAP has three distinct systems.

NetSuite is a business management system with a variety of modules that help medium to larger size business enterprises better manage their financials and operations and increase automation across the business. While SAP’s three systems for small and midmarket companies have each found traction with businesses in of this particular business size. If agility, customizability and scalability is what you’re after, NetSuite is advantageous.

Are Oracle and NetSuite the Same?

Oracle and NetSuite are related. Oracle acquired NetSuite in 2016, but NetSuite operates as an independent global business unit under Oracle. 

What is NetSuite OneWorld?

NetSuite OneWorld enables companies to manage multiple subsidiaries, business units and legal entities, domestic
or internationally from a single solution. This means that the software provides real-time financial and operational visibility and control at the local, regional, and headquarters levels.

What is NetSuite OpenAir?

NetSuite OpenAir is a project management solution designed to streamline and optimize the operations of service-based businesses. It is a module within the broader NetSuite suite of products that caters specifically to companies offering professional services, such as consulting, IT services, marketing agencies, and more. Additionally, it empowers businesses with tools to effectively manage projects, resources, time, expenses, and financials, all in a single integrated platform.

What are the overall benefits of NetSuite?

NetSuite offers benefits such as real-time visibility into financial data, streamlined processes, improved decision-making with actionable insights, increased collaboration, and the ability to adapt to changing business needs. For this reason, the software also eliminates the need for disparate systems and manual processes. Its cloud-based architecture is also beneficial in that it ensures accessibility from anywhere.

Is NetSuite worth it?

NetSuite’s wide range of features, scalability, and adaptability make it a valuable investment for businesses looking to streamline operations, enhance efficiency, and achieve sustainable growth.

The software’s pricing management allows you to centrally manage, control and update pricing according to your business needs and budget.


Speak to a CPA to learn more about software solutions to aid business operations and accounting compliance within your business

Work with Fusion CPA NetSuite Consultants

Our Fusion CPA team specializes in NetSuite consulting and implementation. We have helped multiple businesses of all sizes adopt NetSuite and achieve their financial goals.

Contact us to learn how to use NetSuite and its Modules to achieve financial success for your business.

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