NetSuite’s New Cash Management Feature

In our 2022.2 New Release blog, we covered some features that we thought would be beneficial to NetSuite users, which included the Cash 360 SuiteApp. With the frequent questions we get from our client based regarding cash reporting, we believe this feature could add huge benefits to those that need frequent insight into your business’s cash position, and the ability to forecast cash flow. With that in mind, we wanted to delve a little deeper into Cash 360 and the functionality it could provide to your business.

In short Cash 360 simplifies cash management within NetSuite. It offers a real time view of your company’s cash and liquidity position.

Dashboards

Dashboards can be a hugely underutilised tool within NetSuite, however, we’re sure those who have spent time setting up their dashboards, would agree that they can make day-to-day reporting much more accessible, allowing an accurate, real-time reflection on current business standing at a quick glance.

Cash 360 Dashboards are no different. Cash 360 tiles show your current bank balance, your Account Receivables and Account Payables in one quick glance.

Within the 2022.2 release NetSuite added currency revaluation and transaction status for A/P and A/R accounts to the tiles and pie charts on your dashboard.

Also included within the Cash 360 Dashboard is a reminders portlet informing you of financial tasks, such as Vendor Bills that need to be approved and Open Customer Invoices.

Cash Flow Forecasting

Cash 360 uses multiple data points to provide an accurate cash forecast that is available to you at a glance. Data is pulled from funding sources, planned expenditure, sales forecast, and billing schedules. It also uses historical currency revaluation and your A/P and A/R transactions to ensure that the forecast you are viewing is as precise as possible. It is possible to set your forecast preference for days, weeks or months thus allowing you to see the impact of future cash influx and expenditure within different financial periods. 

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It is also worth noting that since the last upgrade Cash 360 also supports Multilanguage’s (languages that NetSuite currently offer) and all NetSuite Number formats.

Considering the above, we feel that this new feature from NetSuite could be a beneficial addition to finance users of NetSuite, translating your financial data to informative metrics that you can review at the click of a button.

 If you feel that Cash 360 is of interest to you, please feel free to reach out to your account manager who would be happy to discuss this feature in further detail.