Blog Credit: April 30, 2020 (Overcoming ASC 606 Revenue Recognition Hurdles | NetSuite) When the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) came together to harmonize revenue recognition standards, the goal was to achieve greater consistency in financial reporting across industries and globally. The resulting rules, ASC 606 and IFRS 15,…
Blog Credit: Abby Jenkins, May 20, 2021 (What Is Anticipation Inventory? Uses, Advantages & Disadvantages | NetSuite) While most events that throw businesses for a loop can’t be predicted, some can. Many companies forecast with high confidence how sales of given products will fluctuate over the course of a year. For instance, sales of lawn…
Blog Credit: Joseph Clancey, June 17, 2021 (Progress Billing Defined: Advantages & How to Implement | NetSuite) Progress billing is a way to manage invoicing in industries where projects may take months — even years — and cost hundreds of thousands or millions of dollars. While it’s most often associated with the construction sector, the…
“How to Streamline Your Accounts Payable Processes” Blog Credit: Scott Beaver, January 04, 2021 (How to Streamline Your Accounts Payable Processes | NetSuite) Accounts Payable (AP) doesn’t always take center stage as companies strive to expand, increase sales and build an advantage over the competition. And isn’t always a top priority for management even though…
Blog Credit: Kris Blackmon, March 21, 2022 (Quarterly and Annual Business Reviews: Why They Can Make or Break Your Success | NetSuite) In short: The real work is done at the annual review; QBRs are quick checks of KPIs and the relationship overall. Remember the old adage to keep goals S.M.A.R.T. Want to reduce churn?…
“A 6+6 Budget Might Not Make You Popular, But It Could Save the Business” Blog Credit: James Vanreusel, March 17, 2022 (A 6+6 Budget Might Not Make You Popular, But It Could Save the Business | NetSuite) In short: Achieve Better Business Results with NetSuite & Circular Edge Grow and scale your business while…
“Stock Keeping Unit (SKU) Explained” Blog Credit: Abby Jenkins, December 15, 2020 (Stock Keeping Unit (SKU) Explained | NetSuite) A SKU, or stock keeping unit, is a sequence of numbers and characters used as an internal tracking tool by businesses to track inventory. Here, we’ll discuss more details about what a SKU is, why a…
“Metrics That Matter: How to Identify, Track and Use Data Points Now” Blog Credit: Megan O’Brien, March 14, 2022 (Metrics That Matter: How to Identify, Track and Use Data Points Now | NetSuite) In short: The environment in which companies benchmark performance has changed dramatically over the past two years. It’s time to reassess the…
“Why Do Annual Performance Reviews Squash Morale? Plus, 10 Ways to Do Better” “22851”Blog Credit: Jonathan Feldman, March 10, 2022 (Why Do Annual Performance Reviews Squash Morale? Plus, 10 Ways to Do Better | NetSuite) In short: You’re waiting a year to give significant documented feedback? Puh-leeze! There is no perfect solution. This is improv…
“5 Best Practices to Master Rolling Forecasts” Blog Credit: Megan O’Brien, March 7, 2022 (5 Best Practices to Master Rolling Forecasts | NetSuite) In short: Achieve Better Business Results with NetSuite & Circular Edge Grow and scale your business while gaining a competitive advantage with NetSuite’s best-in-class integrated cloud business software and Circular Edge’s expertise…