Looking for an integrated solution with the capability to compare and analyse actual versus projected financial results? Use NetSuite’s Multiple Budgets feature to help with projections and forecasting. Multiple Budgets allows you to create several budgets with the same classifications such as department, location, project, etc.

NetSuite’s Multiple Budgets Feature

Use the Budget Category field to facilitate the creation of multiple budgets for each forecasted scenario, whether for a year of surplus or deficit.

NetSuite budget feature 2

You can also import legacy budgets into NetSuite using the NetSuite Import Assistant. This uploaded budget data can be used for forecasting and projections.

 Then, get more insights using standard reports.The Budget vs Actuals Report, for example, allows you to select your Budget Category and compare it to live financial data recorded in your NetSuite environment.

netsuite budget feature 1

Check out the “Budgets” topic within the Financials First Tutorials course in the NetSuite Learning Center, using your Learning Cloud Support Company Pass. Visit Customer Learning Cloud Support (LCS) for more about the LCS Company Pass.