The CFO Suite, LLC (Acquired by E78 Partners)’s Post

Discover how NetSuite Planning and Budgeting can help your business reap the benefits of a successful financial strategy. https://bit.ly/44VUC77 #netsuite #planningandbudgeting #financialstrategy #financialmanagement

Wondering how can NetSuite Planning & Budgeting can help your business? or What are the implementation costs? or Custom features and functionalities offered for your business? Efficiency, Benefits, Costs - this blog answers it all!

The role of the CFO is no longer about financial management: Driving organizational growth with ERP.   The role of the CFO has transformed beyond traditional financial stewardship to become a driving force in organizational strategy. As companies increasingly migrate the cloud-based ERP (Enterprise Resource Planning) solutions, CFOs are not just overseeing financial aspects but are key decision-makers in technology adoption.   ERP integrates core business processes such as finance, HR, and operations into a unified system, offering agility, scalability, and resilience crucial in today's dynamic market. This shift underscores CFOs' broader influence across compliance, HR, and operational functions, empowering them to drive strategic initiatives and align technology investments with long-term business goals. Here are some key points:   ◾Strategic influence: CFOs play a pivotal role in shaping technology adoption strategies, moving beyond financial oversight. ◾ERP advantages: Integrates finance, HR, and operations into a cohesive system, offering agility and scalability. ◾Enhanced decision-making: Empowers CFOs with better insights for strategic planning and business agility. ◾Operational efficiency: Streamlines processes across compliance, HR management, and operations.   By aligning finance with technology, CFOs are driving their organizations toward sustained growth and innovation. Read the full article here: https://lnkd.in/eehRTUmG   Nominate a forward-thinking CFO for the CVO of the Year Award and celebrate their leadership in driving organizational success: https://cvosvanhetjaar.nl/   #CFO #CVO #ERP #BusinessGrowth #StrategicLeadership #DecisionMaking

Accounting to Reporting Your journey from accounting to reporting does not start with transactions. It starts with designing a Chart of Accounts that is fit for purpose, not for existing needs, but that supports your organization's growth. Once you have designed your CoA in a certain way, redesigning it may take much work. Transactions are the second most crucial element of your entire accounting system. Your reporting will depend on the level of accuracy of your transactions. The third thing you want to focus on is mapping your trial balance and the medium you use for consolidation and reporting—any tool you have, whether Excel or some other software, can be used. I have designed the process keeping all of this in mind. What do you think? Please keep this in consideration when you design your processes: 𝗖𝗛𝗔𝗥𝗧 𝗢𝗙 𝗔𝗖𝗖𝗢𝗨𝗡𝗧 (𝗖𝗢𝗔) A well-structured Chart of Accounts (COA) is the backbone of an organization's financial management and reporting. When designing a CoA, keep this in mind: • Scalability and Growth A thoughtfully designed COA can accommodate future growth seamlessly. • Financial Analysis and Reporting A comprehensive COA allows for the customization of reports to meet these evolving demands, whether for internal management or external stakeholders. 𝗧𝗥𝗔𝗡𝗦𝗔𝗖𝗧𝗜𝗢𝗡𝗦 Transactions are nothing but an accumulation of: • Accuracy • Reliability • Controls • Attention to Details • Adherence to Policies & Procedures and Delegation of Authority 𝗧𝗥𝗜𝗔𝗟 𝗕𝗔𝗟𝗔𝗡𝗖𝗘 The Trial Balance is not your P&L or your Balance Sheet. It is a consolidated position of all transactions based on the Chart of Accounts totaling zero. However, its accuracy is crucial for your consolidation and reporting. 𝗠𝗔𝗣𝗣𝗜𝗡𝗚 The accuracy of the mapping between the ERP system and the consolidation tool is the key. When mapping, ask yourself: • How and what do you want to see as an output, i.e., management or financial reporting? 𝗥𝗘𝗣𝗢𝗥𝗧𝗜𝗡𝗚 Now, the quality of your reports depends on the consolidation and reporting tool you use or how brilliantly you design your Excel models. Abdul Khaliq

You know what pairs nicely with the New Year? (Besides a glass of champagne). We’re talking about some new goals for your business’s financial planning, budgeting, and forecasting. This will help: https://bit.ly/3BKuHlm Ready to take your business to the next level? Contact your Trusted NetSuite Consultants for more information. ☎️ (608) 492-1839 ✉️ info@suitedynamics.io 🖥️ www.suitedynamics.io #Finance #Budgeting #Forecasting #Procurement #NetSuite #SuiteDynamics

Transform Financial Reporting with NetSuite! CFOs, gain real-time insights and automate processes for strategic excellence. 👉 Discover More [https://lnkd.in/gsYaFkif] . . . #business #finance #accounting #CFO #technology #NetSuite #ERP #CloudERP #businessmanagement #smallbusiness #productivity

My education moment today was with Accounting Today and a few of their recent articles surrounding the profession. We always have takeaways from the things we read - but this article hit an area that is touched on often in the outsourcing industry. "What are CFO advisory services?" There are so many items that could be considered CFO advisory - this list included issues with cash flow, profitability, PROCESS bottlenecks, inaccurate forecasts, etc. Fourlane happens to provide all of these advisory services either fractionally or on an interim basis. Team that up with our exemplary monthly, quarterly, or annual bookkeeping, inventory management, controller services, and financial packages for a winning combination.

As the saying goes, "Alone we can do so little; together we can do so much". XTGlobal, Inc. plans to do more for its customers across the world and thus we have partnered with Luft Advisory Services. This #StrategicAlliance is a testament to our #Commitment in delivering more comprehensive suites of solutions to our clients. Check out the news for more details at https://bit.ly/3yhvGKZ Jeffrey Luft, CPA #Luft #Finance #Accounting #Advisory #OracleERP #Reporting #Offshore #ManagedServices #Automation #FinancialPlanning #BookKeeping #CostOptimization #Oracle #Outsourcing #StrategicPartnership #LuftAdvisory

Hello SuiteAnswersThatWork Family! 📆🔍 In this week's blog, we will talk about the key steps taken during the month-end close and year-end close processes. The closing procedures at the end of the month and year are pivotal in the field of accounting and financial management, and they have distinct implications for companies using NetSuite. Understanding the differences between these two important events can help ensure that your operations are running smoothly. 💼 🔄 #netsuite #comparison #monthendclose #yearendclose #suiteanswersthatwork https://lnkd.in/gPENSyTj

Explore the role of accounting provisions in financial management, including types, uses, and how to record them effectively. #accounting #business #netsuite #erp https://lnkd.in/gE8_jcpG