Netsuite Oneworld – All You Need To Know

Available as an optional module of NetSuite ERP, NetSuite OneWorld enables organizations to manage multiple companies with potentially different currencies, taxation rules and reporting. OneWorld is perfect for enterprises that want to manage multi-subsidiary and multinational operations.It is sold primarily through a NetSuite Solution Provider Partner. NetSuite OneWorld comes with sophisticated accounting/ERP, e-commerce, sales, marketing, and support capabilities and supports regions, subsidiaries and separate legal entities that have the same parent company. NetSuite OneWorld consolidates multiple charts of account and delivers real-time visibility to organizations into their accounting activities.

Top features of NetSuite OneWorld

Global Accounting and Consolidation – With NetSuite OneWorld, businesses get the ability to execute true intercompany business in a configurable, secure, fully automated, accurate, compliant, real-time process across intercompany transactions and reconciliations. Robust financial reporting capabilities ensure that you can easily understand what is happening across the global business in real-time. Multi-language user-interface bridges communication barriers, enabling businesses to run their entire entity structure with ease.

Accounting Hub – This functionality helps you to handle specific transactions within a business entity. Information can be imported directly via CSV assigning information either at the transaction level or account level to the general ledger so that it that can be consolidated as part of the business entity’s overall financial statements.

Multi-Currency Management – OneWorld supports 190+ currencies & exchange rates while providing you with wide variety of payment options. Moreover, it also provides real-time currency conversion and financial consolidation for all your global operations.

Audit and Compliance Reporting – NetSuite OneWorld delivers always-on audit trail, built in analytics, access logs and workflow, and the ability to drill down to support both global standard and country-specific requirements. Access to NetSuite is based on users, roles and permissions.

Configurable Tax Engine - NetSuite OneWorld natively enables you to calculate taxes in real-time on sales and purchase transactions and cross border sales. OneWorld supports 100+ countries for taxes and reporting.

Concluding Remarks

Built to addresses the complex multinational and multi-company needs of organizations, NetSuite OneWorld enables businesses to adjust for currency, taxation and legal compliance differences at the local level, with regional and global business consolidation and roll-up.

To know more about NetSuite Oneworld, send an email at info@netsuiteexpert.in