Simplify Billing with NetSuite Consolidated Invoicing

Are your customers tired of having their inboxes filled with invoices within a short period of time? NetSuite has a SuiteSolution that can solve this problem! Consolidated Invoicing cuts through the issue of generating multiple invoices for high-volume customers, and keeps your interactions with them simple, streamlined and stress-free. This SuiteSolution enables you to generate a PDF that summarizes multiple invoices for a specified time period in one place. Instead of receiving several emails containing invoices for each transaction, your customers receive just one invoice containing all the information they need via Consolidated Invoicing. Here's how to streamline billing with Tvarana's guide to NetSuite Consolidated Invoicing.

Key Features of NetSuite Consolidated Invoicing:

• Bundling multiple invoices into one single invoice
• Automatically email Consolidated Invoices with advanced scheduling
• Simple user interface to consolidate invoices with ease
• Exclude selected customers or invoices from consolidation
• Ability to either print or email Consolidated Invoices
• Accept payments for Consolidated Invoices

How NetSuite Consolidated Invoicing works:

• Configure the customer record so that they can use the Consolidated Invoicing solution. The navigation is as follows List > Custom > Consolidated Invoicing Setup.

• The NetSuite Consolidated Invoicing Setup page displays an interface where online consolidation and scheduling is to be enabled. Make sure you enable these fields for the All Customers option and hit Save. Once this is done you are ready to use Consolidated Invoicing!

• Use the navigation Lists > Custom > Consolidate Customer Invoices to select invoices to consolidate to send to your customers. Check the invoices that need to be consolidated and hit Submit to generate the consolidate PDF.

• The screenshot below shows the consolidated invoice that can either be emailed or printed

• The PDF generated shows a template with two invoices containing all relevant invoicing details

In the manufacturing industry, maintaining smooth relationships with high-volume customers is essential. NetSuite’s Consolidated Invoicing solution ensures that your customers receive streamlined, consolidated invoices instead of a barrage of individual ones, making their experience with your company more efficient and hassle-free. This feature simplifies invoice management, reduces clutter, and enhances payment processing. Whether you’re dealing with distributors, suppliers, or retailers, Consolidated Invoicing helps maintain clear and professional communication, ensuring your operations run smoothly.

FAQs about NetSuite Consolidated Invoicing

1) Which organizations can benefit the most from using NetSuite Consolidated Invoicing?
Businesses that deal with frequent billing cycles, multiples charges per customer, high volumes of invoice, or have complex subsidiary billing requirements can benefit the most from NetSuite Consolidated Invoicing as it can significantly decrease administrative burden and improve cash flow visibility.

2) How does NetSuite Consolidated Invoicing impact revenue recognition and accounting accuracy?
NetSuite Consolidated Invoicing does not change how revenue is recognized at the transaction level. Each underlying invoice or charge retains its own accounting impact, ensuring compliance with ASC 606 / IFRS 15 while simplifying customer-facing billing.

3) Can NetSuite Consolidated Invoicing work across subsidiaries and currencies?
Yes. NetSuite Consolidated Invoicing can support multi-subsidiary environments, provided transactions belong to the same customer and meet consolidation rules. Currency handling follows NetSuite’s standard accounting and subsidiary currency settings.

4) Does NetSuite Consolidated Invoicing affect tax calculation or compliance?
NetSuite's consolidated invoicing feature is designed with tax calculation and compliance in mind, aiming to streamline and centralize these processes

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Reach out to Tvarana today to learn how this solution can optimize your invoicing process and support your manufacturing business.