What is NetSuite Financial Close Management and Consolidation?
- NetSuite Close Management and Consolidation simplifies the financial consolidation and close process from start to finish in one central application connected to NetSuite ERP.
It automates intercompany eliminations, manages close task workflows with checklists and role-based assignments, and handles multi-entity consolidation with currency translation and GAAP compliance.
Close Management provides AI-driven insights to identify bottlenecks, tracks close progress in real time, and posts journals directly to the general ledger.
NetSuite Close Management and Consolidation Features
Create role-based close checklists with task dependencies, deadlines, and notifications. Monitor progress in real time and identify bottlenecks before they delay the close.
Configure elimination rules once and NetSuite automatically eliminates intercompany balances during consolidation. No more manual spreadsheet reconciliations between entities.
Consolidate financial data across subsidiaries, business units, and legal entities automatically. Handle minority interest calculations and multi-currency translation.
Use standard or customizable currency translation methods (PVA, VAL) for accurate multi-currency consolidation.
Set up automated workflows to create and post consolidation journals directly to the NetSuite general ledger.
Produce consolidated financial statements that comply with local GAAP and IFRS using built-in templates.
Get AI-generated insights to identify and troubleshoot job failures during close instead of digging through technical logs.
Track data changes, log user activity, enforce segregation of duties, and show source data behind figures for audit trails.
How Much Does NetSuite Close Management and Consolidation Cost?
- Close Management and Consolidation is available as an add-on module to NetSuite ERP. But the real cost isn't the license. It's the 10+ days your team spends every month-end wrestling with manual consolidation, hunting down missing information, and chasing task owners who missed deadlines.
Why Choose Stockton10?
Challenges NetSuite Close Management and Consolidation Solves
- Slow month-end close
- Manual consolidation spreadsheets
- Intercompany elimination errors
- Fragmented close processes across entities
- No visibility into close bottlenecks
- Close tasks aren't enforced
Hear it from your peers
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NetSuite Close Management and Consolidation FAQs
Implement Close Management to automate consolidation, eliminate manual intercompany balances, and enforce close workflows with task checklists and dependencies. Most companies reduce close cycles by 40-50%.
Common reasons: manual consolidation steps, intercompany eliminations done in spreadsheets, no enforced task workflows, missing information that delays consolidation, or close processes that eroded since implementation.
Basic NetSuite handles GL close and period locks. Close Management adds task workflows, automated consolidation, intercompany eliminations, multi-entity support, and real-time progress tracking.
Close Management consolidates multiple entities automatically with configurable elimination rules, currency translation, and multi-GAAP support. Transactions post to subsidiaries and headquarters simultaneously for real-time consolidation.
Yes. Configure elimination rules once and Close Management automatically eliminates intercompany balances during consolidation, saving 5-8 hours per month on average.
Yes. We optimize close workflows, eliminate bottlenecks, document close choreography, and provide month-over-month performance tracking to continuously improve your close process.
Is Your Close Getting Faster or Just Happening?
Stockton10 doesn't just configure Close Management. We govern your close process month-over-month.
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