Netsuite vs. Acumatica - Thursday Throwdown: Accounting Suite Edition

There is a vast number of options to assist your business management needs and most of it depends on your unique processes so for the foreseeable future we will have the Thursday Throwdown to help bring understanding and transparency to the masses regarding what software is available categorically and how each offering sizes up against one another.

In this edition of the Thursday Throwdown, we'd like to highlight the features and functionality of the accounting suites offered by both Netsuite and Acumatica Cloud ERP.

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OVERVIEW

Acumatica's Project Accounting Suite manages budgeting, inventory, time sheets, billing, profitability, and reporting for individual business initiatives. It enables users to create projects that are included in company-wide financial reports. The suite features are integrated with the general ledger, accounts payable, accounts receivable, sales orders, purchase orders, inventory management, and the employee portal. 

 

NetSuite's Financial Management Suite accelerates financial visibility, provides strong expense management, offers streamlined and auditable revenue management and ensures complete real-time visibility into the financial performance of the business.  NetSuite financial management seamlessly integrates with all NetSuite order management, inventory, CRM and ecommerce functions to streamline critical business processes, such as quote-to-cash, enabling everyone to work from a single source of finance, sales and customer data. 

 

 

Round One: ACCOUNTING

• Accounts Payable (A/P)
• Accounts Receivable (A/R)
• Audit Trail
• Depreciation
• General Ledger
• Multi-Currency/Int'l

 

• Accounts Payable (A/P)
• Accounts Receivable (A/R)
• Audit Trail
• Depreciation
• General Ledger
• Multi-Currency/Int'l
• Time & Expense Management

 Here Netsuite pulls ahead in the feature list with their Time & Expense Management module.

 

Round Two: BILLING & INVOICING 

• Automated Transactions
• Contact Management
• Credit Card Processing
• Recurring Billing

 

 

• Automated Billing
• Automated Transactions
• Credit Card Processing
• E-commerce
• Invoices
• Purchase Orders
• Recurring Billing

Once again, Netsuite wins functionality in this category by including Automated Billing, E-commerce, Invoices and Purchase Orders.

 

 

Round Three: Reporting

• Balance Sheet
• Budgeting & Forecasts
• Cash Flow Statement
• Custom Dashboard Reports
• Depreciation Schedule
• Profit & Loss Statement
• Sales Reports
• Sales Tax Report 

• Balance Sheet
• Budgeting & Forecasts
• Cash Flow Statement
• Depreciation Schedule
• Profit & Loss Statement
• Vertical & Horizontal Analysis

 

Acumatica sets itself apart by offering Custom Dashboard Reports, Sales Reports, Sales Tax Reports while Netsuite includes a Vertical & Horizontal Analysis that Acumatica lacks.

 

Round Four: FIXED ASSETS

 
 

• Depreciation Schedule
• Depreciation Tracking
• Fixed Asset Tracking

 

 

• Depreciation Schedule
• Depreciation Tracking
• Fixed Asset Tracking

 

 

 

Here we have an even match!

 

Round Five: WORKFLOW FEATURES

 

• Automated Journal Entries
• Bank Reconciliation
• Batch-Posting

 

 

• Bank Reconciliation

 

 

Acumatica pulls ahead with the Automated Journal Entries and Batch Posting features.

 

Round Six: TAX FEATURES

• 1099 Support
• Auto-Tax Calculator
• Business Activity Statements
• Multiple Sales Tax
• VAT
• W-2 Support

 

• Multiple Sales Tax

 

 

Acumatica really brings it with 1099 Support, Auto-Tax Calculator, Business Activity Statements, VAT calculation and W-2 Support while Netsuite only offers Multiple Sales Tax, a feature also offered in the Acumatica suite.

 

Round Seven: Add-On Modules

• Customer Relationship Management (CRM)
• Inventory Management
• Supply Chain Management

 

 

• Customer Relationship Management (CRM)
• E-commerce
• Inventory Management
• Payroll
• Supply Chain Management