What NetSuite is
NetSuite is Oracle's cloud ERP. It started in 1998 as NetLedger, offering web-hosted accounting, took the name NetSuite in 2003 and was acquired by Oracle in 2016. It runs finance alongside inventory, procurement, CRM and other business processes in one system.
Small and mid-sized businesses use it, including groups with several legal entities: its OneWorld module handles multiple subsidiaries, currencies and tax codes in one account. Its REST web services let an authorised integration create records such as journal entries, which is why NetSuite is one of the ERPs our Ledger module connects to.
What it does in your platform
Ledger
Receives the ledger's daily totals as journal entries, each assigned to the right subsidiary and currency, so your finance team consolidates and closes in NetSuite with the platform's numbers. The individual entries stay in the ledger for any audit question.
How the connection works
One connector in the Ledger module talks to NetSuite through SuiteTalk REST web services. It authenticates with OAuth 2.0 through an integration record in your account, the method Oracle recommends over token-based authentication.
The day is booked
Every payment, transfer and trade is recorded in the ledger as balanced debits and credits, in real time, in any currency or token.
The day is reconciled
The ledger matches itself against bank statements, processor files and blockchain confirmations, and any difference waits in a queue in the backoffice.
Entries per subsidiary
The day's movements are summed per account and currency, mapped to your NetSuite accounts and assigned to the subsidiary they belong to.
NetSuite records them
The module creates each journal entry through the REST record service, and NetSuite returns the record's ID, kept next to the day in the ledger.
Finance closes the period
In NetSuite, the entries sit with the rest of each subsidiary's books, ready for consolidation and the period close.
Next to other providers
NetSuite holds the group's books; the ledger holds every customer's money. Daily totals go to NetSuite, every entry can also go to a data warehouse such as Snowflake or BigQuery, and a core banking system, if you run one, remains the book of record for accounts.
If you start on Xero or QuickBooks and move to NetSuite later, only the connector changes. The ledger, its history and your apps stay as they are.
When NetSuite fits best
A strong fit when
- You run several legal entities or currencies and consolidate them in one system.
- Your finance team already closes the books in NetSuite.
- You want the platform's journals to arrive per subsidiary, without manual imports.
Also worth a look
- Xero or QuickBooks, for a single company with simpler books.
- SAP, when your group already runs its finance there.
How we get you live
The contract
We help you get your NetSuite account and contract in place, or connect the account your finance team already runs.
The mapping
We map ledger accounts to your NetSuite accounts and subsidiaries with your finance team, and agree how currencies and periods are handled.
The keys
The integration's OAuth 2.0 credentials stay in your platform's secrets, and the NetSuite role behind them only has the permissions the connector needs.
A full test run
The connector posts into your NetSuite sandbox account first, and your finance team checks every entry before it is pointed at production.
