NetSuite financial reporting software presents a comprehensive financial business intelligence solution integrated within its premier ERP system. Utilizing the NetSuite report builder, the financial reporting features offer both pre-built and customizable financial reports. These tools are designed to enable accounting and finance teams to extract data and generate reports that articulate the company’s narrative for executive leadership, which can subsequently be communicated to the board, prospective investors, and venture capitalists.

Key Takeaways

• NetSuite Report Builder pulls live data directly from NetSuite for accurate and up-to-date information.
• Report Builder is user-friendly with its intuitive drag-and-drop interface.
• You can schedule recurring reports so they generate automatically, saving time.

What Is NetSuite Report Builder 

NetSuite Financial Report Builder is an application within NetSuite that enables users to create tailored reports to meet specific business requirements. It allows you to design interactive dashboards and detailed reports that deliver actionable insights, ultimately driving business outcomes. 

The Financial Report Builder facilitates the customization of NetSuite financial statements, encompassing various elements such as columns, filters, sorting, and target audience. A key feature of the Financial Report Builder is the Edit Layout page, which affords users meticulous control over their customized financial statements. In addition to customizations at the report level and column level, it permits modifications at the section or row level. Sections represent subsets of financial data, typically filtered and organized by account type.

Within the Edit Layout page, users can tailor the data incorporated in a financial statement. This data is ascertained through dynamic section-level filtering based on parameters such as account type, account name, account number, class, department, location, or subsidiary. Furthermore, section-level sorting and grouping dictate the arrangement of the data according to account type, class, department, location, or subsidiary.

You can specify how to compute results for report summary rows, whether by totaling or by using a more sophisticated formula of your choice. Additionally, you can insert formula rows that show calculated values based on your saved data. Extensive editing tools are provided to modify the appearance of each row or section in your report, including options for labeling and text style.

All customizations made on an Edit Layout page are saved as a custom layout, which can be utilized across multiple custom financial statements. A layout consists of a set of definitions for the rows and sections of a financial statement. Once you save a custom financial statement, it becomes accessible on the Saved Reports page. 

Key Features of NetSuite Report Builder

Customizable Reports

NetSuite offers pre-built standard reports for convenient data access. These reports can be tailored to your needs, eliminating the necessity for manual reporting, thus saving both time and effort. You can access standard reports through the NetSuite Dashboard, specifically within the “Reports Dashboard” in the top menu. These reports are easily viewable and manageable via NetSuite dashboards.

Additionally, NetSuite enables customers to generate custom reports by selecting their desired data metrics for more specific insights. The recommended approach for modifying reports is to adapt a pre-built standard report instead of starting from scratch.

To create a report, select the ‘More Customization’ button found in the ‘Create Report’ section. The Report Builder tool facilitates straightforward customization of standard reports to meet specific requirements, ensuring that you have access to the exact data necessary to empower your business.

Report Management 

Users can manage custom reports through the Saved Reports tab. From this page, users can retrieve all of their previously stored reports. NetSuite administrators can edit, view, delete, and alter the ownership of reports.

Saved Searches Integration 

A saved search is among the valuable NetSuite reporting tools because it is a reusable search definition. You get some results when you search with specific filters. You can preserve various search parameters, such as advanced search filters and results display, using Saved Searches. Users with ‘Publish Search’ access can share their search results with others. It aids decision-making by ensuring accurate data reporting and tracking.

Users can save searches either before or after they are defined. You can set up a recipient list and have the search results emailed to them automatically. These emails with search results can be sent at a set time. Others may use the search tool to find previously published searches by title.

Drag-and-Drop Design

The drag-and-drop functionality streamlines report creation. It allows users to effortlessly move elements like columns and rows without requiring extensive technical skills. This user-friendly interface facilitates quick report design with minimal effort, enabling users to focus more on data analysis and less on formatting.

Scheduling & Automation 

A key feature of NetSuite Report Builder is the option to schedule automatic report generation and delivery. Users can specify intervals (e.g., daily, weekly, or monthly) for reports to be created and sent to selected recipients. This automation not only saves time but also guarantees that important stakeholders receive necessary reports without needing manual effort. It’s particularly beneficial for regularly delivered recurring reports.

Advanced Analytics

Users can improve their reports using advanced analytical tools such as formulas, calculated fields, and grouping options. These functionalities enable the development of sophisticated and insightful reports. For example, users can compute metrics from existing data (like margins and growth rates) or generate custom fields to monitor specific KPIs. This feature transforms simple reports into robust analytical instruments, empowering users to make informed, data-driven decisions.

How can NetSuite Report Builder Benefit Your Business?

The NetSuite Report Builder enables organizations to convert raw data into actionable insights. It offers real-time, customizable reports designed to meet specific business requirements, facilitating more informed decision-making and improved operational efficiency.

Employing a user-friendly drag-and-drop interface, even individuals without technical expertise can generate reports, thereby diminishing dependency on IT support. Additionally, the seamless integration with other NetSuite modules guarantees cross-functional insights, assisting enterprises in optimizing processes and enhancing collaboration among teams.

Automated report scheduling saves time and keeps stakeholders updated. Meanwhile, real-time data enhances responsiveness to market fluctuations. Businesses can effortlessly monitor key metrics, guarantee compliance, and foster data-driven growth.

Tips for Maximizing NetSuite Report Builder Performance

• Use specific filters and criteria to minimize data processing and avoid broad queries.
• Leverage saved searches to pre-filter data and streamline report generation.
• Utilize summary types, such as totals or averages, to condense data and enhance readability.
• Limit report results to essential data using filters like “Top X” or “Last Y Days.”
• Schedule reports to run during off-peak hours to reduce system strain.
• Organize reports into logical folders and archive outdated ones to maintain clarity.
• Regularly update custom fields and scripts to ensure smooth operation.
• Train users to create efficient, well-structured reports to avoid performance issues.
• Monitor system performance logs to identify and resolve bottlenecks.
• Consult NetSuite experts for advanced or complex reporting needs.

Conclusion

Our team comprises expert NetSuite functional consultants with expertise in providing NetSuite financial services to a variety of industries. If you’d like to learn whether NetSuite could be a fit for your organization, contact us.