When it comes to analyzing business growth and making crucial business decisions, having a comparative income statement and balance sheet report is crucial. And while NetSuite provides these reports out-of-the-box, they may not always meet the specific needs of your business. This was the case for one of our clients who wanted to run comparative reports based on dynamic comparative years ranges and the ability to go back up to 5 financial years based on the report date. This is where we stepped in and came up with a custom solution.
Custom Income Statement and Balance Sheet Report
The custom comparative Income Statement and Balance Sheet was built by keeping in mind to not break the structure of financial sections provided by NetSuite:
We built a custom income statement and balance sheet report that allows the user to select comparative years dynamically and with the same filters available in the standard reports.
- The report is designed to automatically include any new accounts added to the chart of accounts.
- The report also has an export option for easy downloading and sharing with senior management who may not be using NetSuite.
- The report can go back as far as 5 financial years based on the report date and provides real-time data with minimal time to load and run.
Benefits of Customized NetSuite Reports
Reduces manual effort previously needed to generate this type of report.
- Provides real-time data and optimized performance.
- Includes new accounts in the accurate financial sections without any need for maintenance.
- Allows for dynamic comparative years ranges and the ability to go back up to 5 financial years.
Customizing the NetSuite reports allowed our client to get more out of their financial data and make more informed business decisions.
- The custom income statement and balance sheet report is designed for ease of use and improved performance, making it a valuable tool for businesses looking to analyze their financial data.
Contact us if you would like know more about these reports.