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4 July 2013
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Manufacturing Gets An Upgrade

During the last two releases NetSuite has beefed up manufacturing support with the addition of enhanced assemblies and work orders coupled with new routing and work centre features. You'll want to keep up to date with these new features if you use assemblies in your business. Here's a quick run through the changes to manufacturing. Read More...

Blog: Shopping cart abandonment facts and how to avoid it

Cart abandonment is a key metric in evaluating a web store’s performance. Shopping cart abandonment means that a buyer adds products to their shopping cart but doesn’t complete the purchase.

What is the norm and what steps can you take to lower cart abandonment in your web store?

Find out the prime reasons for buyers abandoning their cart: Read the full article here

Blog: International Markets – Making smaller companies more competitive

As companies seek new markets the lure of international expansion often becomes a major consideration in driving sales growth. Until recently, however, the costs and risks of establishing and managing such an environment have created a barrier to entry for small and mid-size companies. Over the last few years it has become easier for companies to expand internationally.

Read about why it has become easier for smaller companies to succeed.

Tip: How to offset customer/supplier balances

In NetSuite when no money is being exchanged, customer/supplier balances can be offset against one another by creating a journal entry. You have to be wary of how you setup the journal. As an example if a particular customer has an open invoice and you want to offset the invoice amount against an existing outstanding bill amount you owe to the customer for goods/services supplied then go to Transactions > Financial > Make Journal Entries.

  1. Select the Accounts Receivable account, in the ‘’Credit’’ box enter the amount you want to offset.
  2. In the tax code field select a tax code that is excluded from your VAT reports (to identify the appropriate tax code you can go to Set-up > Accounting > Tax codes and check which VAT codes are ‘’Excluded from VAT reports’’).
  3. Select the name of the customer in the NAME field. This is important. If you don’t you will end up with differences between your AR control account and your AR Reports
  4. You can type in a memo for ease of reference. Click done to save the line.
  5. On the next line select the Accounts Payable account, in the ‘’Debit’’ box, again enter the amount you need to offset. In the tax code field, select the same Tax code.
  6. This time select the name of the vendor in the NAME field. Again this is important. If you don’t you will end up with differences between your AP control account and your AP Reports
  7. Once again you can type in a memo for ease of reference.
  8. Save the journal.
  9. Go to the customer record. On the transaction tab you should see the journal and the “open” invoice but the customer balance on the finance tab should now be zero.
  10. To “Close” the invoice click accept payment > tick the Invoice number that this journal relates to, and tick the newly created journal (found on the credits tab). Make sure the payment amount is zero. Save the Payment. This will mark the customer invoice “Closed”.
  11. Next go to the supplier record and click bill payment. Follow the same process as 10 above to “Close” the bill.

More tips from the knowledge base

News: NetSuite announces the latest websites built on the new SuiteCommerce platform

During SuiteWorld back in May this year, NetSuite announced the following websites that have been built on their new SuiteCommerce platform using the new Advanced Storefront:

http://www.poppin.com
http://teno.com/Boccia-Titanium
http://www.craftyourair.com
http://www.potterybarn.com.au
http://www.luglife.com
http://www.pag-leisurewear.co.uk
http://www.audi-collection.com/Accessories

Find out more about SuiteCommerce

SuiteExtender Spotlight

Online Customer Estimate/Quote Acceptance: Enable customers to approve sales transactions simply by clicking on an email you send them.

Find out more!

Referral Program

Do you know a business that could benefit from NetSuite? Refer a new prospect and we will give you a 10% referral fee for any new introductions you make that results in a license sale.

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