Invoicing and Project Management Accounting

Efficiently manage and analyze project finances

What is NetSuite OpenAir Invoicing?

NetSuite OpenAir invoicing and billing provides powerful tools to manage projects from bid to bill, including time and expense tracking, invoicing, internal chargebacks, and revenue and project accounting. Track multiple offices and employees to ensure clients are billed accurately and on time, and gain a complete view into your projects’ operational and financial health.

Master Revenue Recognition

Whether you’re calculating simple employee rates or complex billing and revenue contracts, OpenAir automates revenue recognition and month-end close processes to support your organization — however you measure profitability.

OpenAir’s invoice process saves us a lot of time, effort, and heartache.

Elizabeth Daykin
COO, Cadeo Group

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NetSuite OpenAir Invoicing Benefits

Automated Project Accounting. Connect activities with company financials to ensure accurate accounting and billing throughout the project lifecycle.
Greater Cash Flow Visibility. Monitor and manage project revenues and invoicing with advanced billing rules. View revenue status in real time to support services contracts.
Accurate Revenue Recognition. Recognize revenue separate from project billing to support exactly how your organization measures profitability and ensure compliance with financial standards.
Aligned Budgets vs. Actuals. Proactively identify and resolve potential invoicing problems and gain an accurate picture of expenses via improved collaboration and status reporting.

NetSuite OpenAir Invoicing Features

NetSuite OpenAir invoicing provides a powerful billing engine that ensures clients are invoiced accurately and on time to improve cash flow.

Invoicing and Billing

Manage approvals by customer or project with an end-to-end invoicing engine, and view outstanding balances in real time. Create invoices and bill clients with the click of a button. Automatically calculate charges based on billing rules, time entered, and rates. Minimize manual work and disconnected systems, produce custom invoice and summary layouts, and easily share them with stakeholders and clients.

Project Revenue Recognition

Remove cumbersome manual processes from calculating revenue and reconciling month-end closes. Recognize revenue separately from project billing to align with how your organization measures profitability. Automate and adjust project financials based on your unique guidelines, including support for multiple revenue rules like labor, fixed, percent complete, and other charge-based rules.

Advanced Billing Rules

Easily update billing rules on projects to reflect the latest statement of work. Edit rules to fit contract types, like fixed fee, percent complete, time and materials, progress, or unit price. Identify and aggregate costs on a project-by-project basis, and place rule and rate and time period caps on projects for complete control.

Project Analytics and Profitability Reporting

Easily configure the finance dashboard so stakeholders see project finances at a glance, with real-time access to KPIs. Read company message boards, set and view reminders, and review reports directly from the main dashboard. Get alerts when tasks pass set thresholds; monitor forecast revenues by stage; and analyze billing margins, profitability, and other metrics from a single dashboard. Easily drill down to ensure projects are moving in the right direction.

Challenges NetSuite OpenAir Invoicing Solves

Limited Visibility Into Project Financials. See project profitability and margins at a glance from a centralized dashboard, then drill down to details and cost reports.
Limited Organizational Reach. Support multicurrency and taxation requirements including VAT, GST, and PST.
Revenue Loss from Manual Processes. Automate and streamline invoice and billing management to eliminate manual effort and automate workflows
Inconsistent Processes. Set and maintain billing rules and workflows with standardized templates. Eliminate manual, disconnected work with automated approval process flows.

How Much Does NetSuite OpenAir Invoicing Cost?

Companies of every size have made the move to NetSuite OpenAir. Looking for a better way to run your projects but wondering about the cost?

Users subscribe to NetSuite OpenAir for an annual license fee. Your license is made up of two main components: core platform and number of users. There is also a one-time imlementation fee for initial setup.

Invoicing capabilities are included with the NetSuite OpenAir module.

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