As businesses grow, managing invoicing can become more complex, especially if there are multiple subsidiaries or transactions involved. To help streamline invoicing processes and ensure accuracy, NetSuite users look for tools to consolidate multiple NetSuite invoices into one. NetSuite Consolidated invoicing tools provide a number of benefits and are a common purchase for growing NetSuite users. In this guide, we will break down everything a NetSuite user would need to know about invoice consolidation as well as provide a brief demo for our own NetSuite invoice consolidation app.
What is NetSuite Consolidated Invoicing?
NetSuite Consolidated Invoicing is a method of invoicing where multiple transactions or subsidiaries are consolidated into a single invoice. This process aims to simplify invoicing and reduce the number of invoices that need to be created and managed. It consolidates data from various sources, providing businesses with a more comprehensive view of their finances.
What are Some Benefits of NetSuite Invoice Consolidation?
Simplifies Invoicing: By minimizing the quantity of invoices that must be generated and managed, NetSuite Consolidated Invoicing can assist businesses in streamlining their invoicing procedures.
Increased Efficiency: Organizations can increase their efficiency and decrease errors by combining data from numerous sources into a single invoice.
Saves Time: By speeding up the process of creating and managing invoices, NetSuite Consolidated Invoicing can help save time.
Enhances Visibility: By giving businesses a more complete picture of their financial situation, this feature makes it possible for them to make better decisions.
Enhances Cash Flow: NetSuite Consolidated Invoicing can assist enhance cash flow by slashing the time required to create and manage invoices, ensuring that companies receive payments more quickly.
How Do I Consolidate Invoices Inside of NetSuite?
As of writing this, NetSuite does not have the ability to consolidate invoices out of the box. However, that does not mean solutions do not exist. NetSuite has created a Consolidated Invoicing SuiteSolution that provides the ability to consolidate multiple invoices into one.
A SuiteSolution is an Add-On functionality that has been built by NetSuite for NetSuite users. SuiteSolutions are too specific to be considered full-modules so sometimes users may not know they are options to them. SuiteSolutions used to be free up until a few years ago, but unfortunately they now come with a fee.
NetSuite’s SuiteSolution is not the only tool available in 2023, though. eMerge Technologies has since developed their own custom NetSuite Consolidated Invoicing application that is available for NetSuite users.
eMprove Invoice Consolidation 2.0
At eMerge, we have been providing custom NetSuite solutions to clients for the past 20 years. A few years back, we developed a custom invoice consolidation tool for one of our customers and realized this application can help more than just the one customer we developed it for. So with some tweaking we built a custom application for NetSuite users that is available to license. See this bundle in action below.
NetSuite Consolidated Invoicing With Improve 2.0
We used our scripting talents to create a Suitelet inside of NetSuite. This Suitelet automatically populates with invoices that are currently open and unconsolidated.
Simply look up the invoice you need by a custom invoice #, To/From date, or by customer, then check the box to add it to a “consolidated invoice.”
Set up the PDF how you normally would otherwise and click print..
Example NetSuite Consolidated Invoice PDF Template
..here is a sample invoice with multiple lines contained on a single PDF.
Why Consider eMprove Invoice Consolidation Over NetSuite’s SuiteSolution?
So if NetSuite already has a native solution why should we consider a third-party option? Here are a number of good reasons why.
Customization – Often times, Consolidation is just the first step to streamlining your invoicing process. Improve Consolidation provides the foundation for a number of cool customizations that NetSuite’s SuiteSolution can not do. Customizations such as automations, consolidation of parent and child records, payment of consolidated invoices, are now on the table.
Consolidated Payments – As mentioned above, Improve Invoice Consolidation has the native ability to apply payments to consolidated invoices. Capitalizing on the consolidation of the invoices.
Custom Support – As with all eMerge applications, users benefit from having access to tailored support. Users get to talk to the application’s architect and get quick answers to specific questions and even request additional feature’s and provide feedback.
Simple Set Up – Improve 2.0 can be set up in minutes by novice NetSuite users and comes with easy to follow and robust documentation.
Ease of Use – Improve 2.0 is very easy to use. Users have the ability to search for invoices by company name and to simply check boxes to indicate what they want to consolidate. Consolidated invoices can be created in seconds.
Customizable PDF’s – Improve 2.0 comes with a customizable PDF that will all include information you want to present to your customers.
Jeremy McCourt is an content producer in the enterprise software industry that focuses on NetSuite and related cloud-based software solutions.
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