NetSuite Global Accounting and Consolidation
Real-time consolidation across subsidiaries, currencies and accounting standards. Eliminate spreadsheet consolidations, automate inter-company eliminations and close the group accounts faster.
NetSuite Global Accounting and Consolidation, powered by NetSuite OneWorld, enables organisations to manage multiple subsidiaries, business units and legal entities from a single platform with real-time financial consolidation.
Instead of running separate accounting systems for each entity, exporting data into consolidation spreadsheets and manually processing intercompany eliminations, NetSuite maintains all entities in one system. Transactions post simultaneously at subsidiary and parent level. Currency conversion happens automatically. Eliminations process based on rules you define.
The result? Consolidated financial statements in real time rather than weeks after month-end, complete visibility across the group and finance teams freed from the consolidation grind.
Consolidation taking weeks every month
When consolidation means collecting trial balances from multiple systems, normalising data formats and building consolidation workbooks, it becomes a major time sink. NetSuite consolidates in real time because all entities share one platform.
Intercompany transactions creating reconciliation nightmares
Matching intercompany invoices, tracking balances and processing eliminations manually is tedious and error-prone. NetSuite tracks intercompany transactions automatically and generates elimination entries based on your rules.
Currency conversion complexity
Managing exchange rates, translating balances and handling translation adjustments adds layers of complexity to consolidation. NetSuite maintains rate tables and converts currencies automatically at transaction and consolidation levels.
Different accounting standards across entities
When subsidiaries follow local GAAP while group reporting requires IFRS, you’re maintaining multiple versions of the truth. NetSuite’s multi-book accounting posts transactions under multiple standards simultaneously.
No real-time visibility into group performance
If you only see consolidated results after month-end close, you’re flying blind for most of the month. NetSuite provides consolidated dashboards and reports that update in real time as transactions post.
NetSuite OneWorld provides the foundation for managing complex multi-entity organisations on a single platform.
Multi-Subsidiary Management
Manage up to 250 subsidiaries within a single NetSuite account. Each subsidiary operates as a distinct legal entity with its own base currency, tax rules and regulatory requirements while sharing a common platform.
Real-Time Consolidation
Transactions post at subsidiary and parent levels simultaneously. No waiting for period-end consolidation runs. Consolidated financial statements, dashboards and KPIs reflect current data at all times.
Multi-Currency Support
Support for 190+ currencies with automated conversion at transaction entry and consolidation. Maintain exchange rate tables with historical rates. Handle translation adjustments and currency revaluation automatically.
Intercompany Management
Track intercompany transactions across the group. Automate intercompany invoicing and cross-charges. Generate elimination entries based on configurable rules. Reconcile intercompany balances without manual matching.
Multi-Book Accounting
Maintain parallel books for different accounting standards such as UK GAAP and IFRS. Post transactions to multiple books simultaneously. Generate statutory and group reports from the same underlying data.
Real-time consolidated reporting
See group financial position at any moment, not just after the consolidation process completes.
Faster group close
Eliminate days or weeks of consolidation work. When subsidiaries close, the group is ready to close.
Reduced intercompany complexity
Automated matching and elimination takes the pain out of intercompany accounting.
Multi-GAAP compliance
Maintain books under local standards and group standards without duplicate data entry.
Scalable global operations
Add new subsidiaries without implementing new systems. The platform scales with your structure.
NetSuite’s powerful. It’s also complex. The difference between an implementation that transforms your business and one that becomes an expensive headache? Your partner.
We’ve delivered 100+ NetSuite implementations across multiple sectors, click the button below to see how we can help you grow with NetSuite.
“The functionality NetSuite offered us to run our global businesses was unrivalled and Eureka Solutions’ experience in implementing similar systems for other exciting international businesses made them our obvious choice.”
– CFO, Bounce Ping Pong
Eliminated duplicate data entry
Simplified multi-subsidiary accounting;
Enhanced customer insights
“We chose to work with Eureka Solutions as they clearly understood our business problems. Implementing NetSuite has increased the efficiency of our business, enabling us to strengthen customer relationships.”
Month end close 75% faster
Manual/duplicate data entry eliminated
Expense allocation time reduced 50%
“NetSuite has saved us a considerable amount of time at month-end and unlocked new reporting capabilities. While it requires effort to set up processes properly, the outcomes generally justify the additional resource.”
50% reduction in time for month end
100% removal of spreadsheets for project, grant and department tracking
Full integration of all critical back-office functions
Non-finance users empowered with the analysis they need
“It’s been a huge time resource saver for us and has allowed us to strive towards that goal to deliver that world class service for all parts of our business.” – Stuart Sharp, MI & Charity Relationship Manager
360° visibility enables accurate reporting on an ad hoc basis
Information supplied much quicker to charity partners
Cloud-based system replaces manual processes and spreadsheets
Significant reduction in resource required, allowing the team to deliver world-class service
“We wouldn’t be able to live without it now. After working with multiple ERP systems over 20 years, NetSuite is the best I’ve worked with and it’s the one I would recommend.”
No additional systems or adaptions required to support growth
No reliance on heavy customisation
Processes shaped naturally with the business
“The Eureka Solutions team had the confidence to challenge us on our processes where necessary, and the result is that we get much more out of the system than we otherwise would have… it was clear from our first conversation that their knowledge of NetSuite and their pragmatic and practical approach meant they really understood our requirements.”
– CFO
Complete and consolidated financial visibility of the global business.
Elimination of spreadsheets and manual processes from core accounting tasks.
Ability to concentrate on growing the business, making effective decisions based on reliable data.
Ease of expansion into new geographical territories.
“It’s been a game-changer in helping us deliver accurate, timely reports without the burden of manual intervention.”
– Company Secretary, Tomatin Distillery
50% reduction in time taken for month end close
Reduced report lead time by 2 weeks
Elimination of manual processes
Whether you’re looking to automate manual processes, improve visibility into your operations or scale without adding headcount, we can help you understand how NetSuite fits your specific situation.
A conversation with our team is the best place to start.
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