Our ION Solution Supports NetSuite Fund Accounting for Private Equity

ION supports NetSuite fund accounting for a private equity firm

The primary purpose of a private equity (PE) firm is to generate value for investors. To do so, many PE firms turn to robust software platforms to help manage critical aspects of their firm. This effort should include identifying software specifically designed to support accounting.

Regarding accounting solutions for PE funds, the Oracle NetSuite ERP is a clear choice. NetSuite fund accounting software can support all of a PE firm’s primary processes. And it is possible to get even more value out of NetSuite by pairing it with Finlyte’s proprietary ION implementation solution.

Join us as we examine the three core fund accounting processes that growing PE firms can manage with NetSuite. From there, we will dive deeper into the power of our ION solution. We will also explore how it can support your NetSuite journey.

Streamline Core Operational Processes with NetSuite

NetSuite fund accounting software can support multiple fund accounting processes, including the following critical tasks.

1. Invoicing

Invoicing is a vital part of fund management and compliance. PE firms must document every expense and give invoices to the appropriate parties. It may seem simple, but the task can be quite time-consuming when a firm relies on manual processes.

Thankfully, NetSuite includes powerful invoicing tools. Firms can set up custom templates and easily organize expense types. They can also attach supporting documents to invoices. Doing so supports clarity and can help firms build trust with investors. 

Updating invoicing processes through NetSuite can also strengthen cash flow. PE firms can promptly bill investors and process invoices sooner with NetSuite. 

2. Expense Tracking

The PE sector is tightly regulated. As such, PE firms must keep detailed expense records on things like overhead, payroll, and vendor fees. Tracking these manually can open the door for costly data entry errors, but using NetSuite’s automation tools can prevent errors and aid with compliance.

As an added benefit, NetSuite brings all expense data together in a centralized location. PE firms can tap into this single source of truth to access real-time insights. They can monitor revenue, cash flow, and expenses, and these metrics can be used to monitor overall fund performance.

3. Pass-Through Cost Management 

Managing pass-through costs is a tricky process, mainly because costs may be billed back to either a single fund or several. The more entities a PE firm manages, the more complex pass-through cost sharing becomes.

NetSuite takes the hassle out of pass-through cost management by providing firms with user-friendly deal management tools. With NetSuite, firms can do the following:

  • Integrate with other systems to support cost tracking
  • Spread out expenses to several portfolios or funds
  • Bill indirect or back deal costs to multiple investors
  • Divide deals into segments to speed up accounts receivable and accounts payable transactions
  • Engage in end-to-end deal tracking

NetSuite provides the visibility, control, and efficiency that PE firms need to manage pass-through costs. With the platform, fund managers can promote compliance. They can increase clarity and deliver better value for their investors, too.

Why Finlyte’s ION Solution to Support NetSuite Fund Accounting?

Investment Optimization for NetSuite (ION) is our proprietary solution designed for PE firms. ION introduces pre-built NetSuite integration to enhance your fund accounting abilities.

With ION, your firm can execute critical tasks with ease, such as:

  • Tracking all investments through NetSuite
  • Sharing data with analysts
  • Obtaining real-time insights
  • Guiding decision making
  • Maximizing the ROI on your NetSuite deployment

Finlyte ION also speeds up the underwriting process, supports accounting for capital calls and distributions, and allows you to ditch manual processes. With ION, you can finally replace your old spreadsheet software.

Once NetSuite is set up for your firm’s needs, you will always know what’s happening with your investments. You’ll be able to track deals from sourcing through asset distribution. ION provides you with a clear view of profitability so you can continue to support the growth of your PE firm.

Expedite Your NetSuite Migration with Finlyte

NetSuite fund accounting software represents the ideal solution for your firm, but managing your own migration can be tedious. The good news is that you don’t have to.

Finlyte’s NetSuite implementation team can oversee your entire migration. We assist with pre-planning and provide post-deployment support. Most importantly, Finlyte accelerates your time to value with our ION solution.

With ION, NetSuite is configured to meet your firm’s needs. Post-deployment, you can use NetSuite and ION to take care of the following:

  • Streamline underwriting
  • Prospect potential investments
  • Automate distributions
  • Generate Reports

Schedule a demo today to learn more about what ION can do for your firm. Get ready to see vast improvements in how your PE firm handles the accounting side of your operation.