Get NetSuite Estimate

Cumula 3 Group Blog

8 min read

NetSuite vs Intacct: (Ultimate Insiders Guide)

Feb 22, 2019 6:01:49 PM

This is the most comprehensive comparison guide featuring NetSuite vs Intacct available.

I'm going to compare and contrast NetSuite against Intacct in great detail in areas that are often overlooked.   

In short: if you want a single online resource to help you during your ERP evaluation this should be the one.

Let's get started.

Best-of-Breed vs Business Suite?

The first question you should be asking yourself is, are you looking for a stand-alone financial management application?

Or are you looking to run your entire business from a single suite of business applications?

Intacct is focused exclusively on financial management and is considered a “best-of-breed” financial solution, since that's all they do.

Whereas NetSuite’s offerings span well beyond the needs of accounting and finance. For instance, NetSuite offers the following applications/modules you can natively add to your ERP solution.

  • Customer Relationship Management (CRM)
  • E-Commerce
  • Point of Sale (POS)
  • Inventory & Warehouse Management (WMS)
  • Manufacturing
  • And more

While NetSuite offers a broad suite of applications they are also considered a best-in-class Financial Management application, according to Gartner, but it is so much more.

Let's get into the NetSuite vs Intacct comparison.  

 

Financial Management Comparison

Major Differences [For Growth Companies]

NetSuite meets international statutory and tax compliance with 54+ automatic tax fillings and 19+ languages available in over 200+ currencies.

Whereas, Intacct does not provide reporting in transactional currency and cannot meet statutory and tax compliance requirements outside the US [without a partner].

With NetSuite consolidations are in real-time whereas with Intacct consolidations are batch. The GL trial balance is only available in base currency and intercompany journal entries are manual and one-sided.

With NetSuite month end process creates automatic journal entries, closing/adjusting entries, whereas with Intacct month end close process must run adjustments per entity per module manually.

THE BOTTOM LINE

If your business is looking to expand internationally or through acquisitions, NetSuite should be seriously considered over Intacct. 

 

Reporting & Search Comparison

In Data We Trust

With NetSuite you always know the state of your customers in real-time. On a single screen, you’ll see all contacts, addresses, transactions, opportunities, contracts, entitlement stats, cases, tasks, collections notes, email correspondence and more on any device at any time.netsuite 360 view

Whereas, Intacct’s customer record is simply a record that stores customer name, a contact, a billing address, and a shipping address. It does not address transactional history or the current state of your customer.

Global Search

NetSuite’s Global Search allows you to search the entire platform for all records or transactions associated with an alpha-numeric value. NetSuite Global Search Image

Intacct’s search capability is limited to records that post to the GL, even though there are many important records that do not post to the GL, such as customer records, contracts, opportunities, cases and so much more. Search with Intacct is more clunky and less like Google.

Drill Down & Consolidations

NetSuite helps you understand performance drivers by giving you the ability to drill down into consolidated reports providing complete visibility into source transactions associated with all subsidiaries that make up a consolidated report.

Whereas, Intacct only allows you to drill down to a gigantic consolidation journal entry, which encompasses all transactions for all subs. This prohibits you from seeing the source transactions behind the consolidated report.

But don't just take our word for it. Hear what actual users have to say...

g2-crowd-vector-logoG2 Intacct Review 3

Sourcehttps://www.g2crowd.com/products/sage-intacct/reviews?utf8=%E2%9C%93&filters%5Bnps_score%5D%5B%5D=1&filters%5Bcomment_answer_values%5D=&order=g2_default 

THE BOTTOM LINE

Getting to customer data and transaction level detail in NetSuite is significantly faster and easier than with Intacct.  

 

 

Platform Flexibility

Dimensions

NetSuite provides unlimited reporting capability by providing you with unlimited dimensions and segments. This allows you to capture data, view and report in the format that makes most sense for your business.

Whereas Intacct has only 9 dimensions, limiting your ability to capture and report on relevant business information.

 Intuitive Access

NetSuite gives you a single set of login credentials, which gives you complete access to use NetSuite. You'll use the same credentials to perform daily tasks in NetSuite, or create a support case and access the learning portal.

Whereas Intacct requires you to have three unique sets of login credentials in order to navigate Intacct. You’ll need unique credentials for 1) GL Access, 2) Support, and 3) Learning Portal. 

 Real Time Alerts

With NetSuite’s flexible platform, end-users can create and define queries, trigger alerts and reminders thereby helping you manage your business processes.

Where as, with Intacct workflows are limited and rigid, requiring you to fit your business processes into predefined workflow. This can make it difficult for business process to evolve and scale.

 

THE BOTTOM LINE

If you desire a platform that can be customized for your business and processes, NetSuite is better positioned to deliver. Intacct is much more rigid and/or limited when it comes to customizations.  

 

 

Platform Scalability

Multi-Currency & Multi- Subsidiary

NetSuite’s global consolidation is real-time. By toggling through reporting views, you will see real-time consolidated financials at the global level and regional level and subsidiary level. NetSuite allows you to view subsidiary financials in both functional and translated currencies. NetSuite supports 190 currencies in 160 countries.

But don't just take our word for it. Hear what actual users have to say...

g2-crowd-vector-logoG2 netsuite review


Source:https://www.g2crowd.com/products/netsuite-erp/reviews?utf8=%E2%9C%93&filters%5Bnps_score%5D%5B%5D=5&filters%5Bcomment_answer_values%5D=&order=g2_default 

Whereas, with Intacct global consolidation is not truly real-time. In order to consolidate, you must navigate to a consolidation module and go through a series of screens/clicks to consolidate. Separate reports have to be run for specific subsidiaries, functional currencies & translated currency. You are not able toggle between reporting views, rather you are required to run separate reports.

Here's what an Intacct user had to say about multicurrency...

g2-crowd-vector-logoG2 Intacct Review Currency2

Source: https://www.g2crowd.com/products/sage-intacct/reviews?utf8=%E2%9C%93&filters%5Bnps_score%5D%5B%5D=3&filters%5Bnps_score%5D%5B%5D=2&filters%5Bcomment_answer_values%5D=&order=g2_default 

Multi-Language

NetSuite’s User Interface is supported in 19 languages allowing users to view and use NetSuite in their native language.

Whereas, Intacct's user interface is only supported in English.

AR Automation

NetSuite manages your collections in an automated fashion. System generated dunning emails are sent to customers when invoices become past due. Nothing falls through the cracks and customer responses are captured in NetSuite allowing you to collect faster and more efficiently.

Whereas, Intacct cannot natively provide automated dunning emails and capture customer responses in Intacct. 

 

Risk Management 

Roles & Responsibilities

NetSuite makes it easy to manage your internal controls and segregation of duties effectively and easily using flexible Roles and Workflows.

Whereas with Intacct, adding or editing role permissions/restrictions requires professional service intervention.

Revenue Recognition Management

NetSuite decouples billing from revenue recognition, alleviating the need to have order entry personnel who also have a extensive rev rec knowledge. Revenue recognition is managed from a revenue arrangement record, whereby rev rec methods and rules are assigned to the arrangement.

However, Intacct forces you to manage revenue recognition at the sales order or invoice. Often, this causes a control issue as those responsible for creating orders and submitting invoices may not have the appropriate accounting background needed to ensure rev rec is accurate.

Potential Misstatement Notifications

As part of the period close checklist, NetSuite provides you a list of transactions whereby the GL posting date differs from the transaction date. NetSuite prompts you to review make any necessary corrections prior to close.

Intacct does not offer this sort of functionality.

Credit Card Functionality

SuitePayments adds additional capabilities, protecting your customers and eliminates risk as NetSuite has been deemed PCI Compliant by all three major credit card companies. NetSuite is processor-agnostic to avoid lock-in.

Whereas, Intacct partners with 2C Processor. With the Intacct-2C Processor solution, and 2C Processor storing the credit card numbers, it would be difficult and painful for the merchant to switch to another card processor.

The Bottom Line

Companies that use NetSuite, grow on average 17% faster, than companies that don't use NetSuite.

So, are you looking for a platform for transformative growth? Or do you just need a next-level accounting solution?

Still on the fence, download (form free) the competitive analysis below to continue your research.

NetSuite vs Intacct

Eric Smith
Written by Eric Smith

Eric is a tech blogger & digital marketer with a background in helping companies evaluate and purchase NetSuite software and services.

Post a Comment

Featured