For many organisations, the need to regularly export budgets from NetSuite, make changes in Excel, and then reimport the revised data back into the system can lead to significant administrative overhead.
While NetSuite offers powerful tools for financial management, this workflow often requires manual steps that can introduce errors and inefficiencies.
In this blog, we’ll answer:
Does NetSuite enable you to export and import budgets using Excel?
What Solution 7 offers to simplify NetSuite Budgets
How to export and import NetSuite budgets in Excel using Solution 7
Does NetSuite enable you to export and import budgets using Excel?
In short, yes it does. As standard, NetSuite enables users with the appropriate permissions to export data sets, reports, and saved searches to Excel. (Nicely, it also includes all formulae and calculations, making it easier to interact with in Excel).
It also provides (again, providing you have the appropriate permissions) to import .CSV files back into NetSuite.
Putting both steps together, you can therefore export your budget out to Excel, make any amendments you wish, and then reimport it as a .CSV.
This can work well if it is a simple budget, a relatively small change, or the budget is essentially managed by one person.
As the data is exported – it is static the moment it leaves NetSuite. Any changes made in NetSuite after the export mean that the Excel sheet is no longer accurate. The same applies once it is saved in Excel, converted to .CSV and reimported.
Basically, the longer it is outside of NetSuite, and the more touchpoints there are to get it back in, the more chance there is that something will have changed in the data and impact the accuracy or effectiveness of the update.
Often, exporting and reimporting can relate to revised budgets, alternate budgets, or reforecasts. It is worth noting that you require NetSuite’s Advanced Financials module to access and manage multiple budgets within NetSuite (either natively or via import and export).
There are standard features to export any report, saved search, or list from NetSuite to Excel (providing you have the appropriate permissions).
Likewise, NS enables you to import the .csv file back in.
NS advanced financials required to process multiple budgets in NS.
What Solution 7 offers to simplify NetSuite budgets?
NetSuite’s robust budgeting features provide a solid foundation for financial management. However, working with complex budget data often involves exporting it from NetSuite, making changes in Excel, converting it to a CSV file, and re-importing it back into the system.
Without the right tools, this process can become tedious and prone to error and means that any subsequent changes are not reflected in NetSuite without creating and importing a new CSV every time.
Solution 7 simplifies this process by offering an easy way to map and export budget data from NetSuite to Excel, allowing you to work with it in your preferred spreadsheet environment. Once the data is updated, Solution 7 makes it easy to reimport the changes back into NetSuite, streamlining your budgeting process and improving overall efficiency.
How to export and import NetSuite budgets in Excel using Solution 7.
Let’s break down how Solution 7 makes the process of exporting, managing, and reimporting budgets into NetSuite a more seamless experience:
Export Budget Data from NetSuite to Excel
The first step in working with your NetSuite budget is to pull it through from NetSuite to Excel via Solution 7 it into Excel. This allows you to take advantage of Excel’s familiar tools for analysis, collaboration, and modification.
Export Data: Solution 7 simplifies the export process, retrieving your budget information directly from NetSuite into an Excel workbook, where it’s easy to edit.
Automatic Mapping: Solution 7’s mapping engine uses the necessary fields, such as subsidiaries, periods, and budget categories, ensuring the exported data is properly structured and ready for updates.
Work in Excel: Once the data is in Excel, you can easily update budget values, add or modify entries, and perform analysis without needing to reformat the exported file manually.
The mapping engine ensures that you have all the relevant data from NetSuite, laid out in an easy-to-manage Excel format.
Manage and Update Your Budget in Excel.
Once the budget data is mapped and pulled through, you can manage and edit it in Excel. With Solution 7’s mapping capabilities, your team can work with the same structure, ensuring consistency when making updates.
Edit and Update: Add new budget data or adjust figures directly in Excel.
Collaboration: Easily share the workbook with other stakeholders or budget holders to collect their feedback or input.
Real-Time Updates: Solution 7 ensures that the latest data from NetSuite is always available in Excel, allowing for accurate reporting and forecasting.
By leveraging Excel's capabilities, Solution 7 provides a flexible environment for collaborative budgeting, ensuring that all budget holders can easily contribute to and update the budget.
Reimport Updated Budgets Back into NetSuite.
Once updates are made to the budget in Excel, Solution 7 makes it incredibly easy to upload the revised budget data back into NetSuite.
Automated Mapping: Solution 7 maps the budget data back to the correct fields in NetSuite, ensuring a smooth transition from Excel to the system.
No CSV Hassles: Unlike traditional methods that involve manually converting Excel data to CSV and uploading it to NetSuite, Solution 7 automates this process, saving time and reducing the risk of errors.
Validate Data: Before reimporting, Solution 7 validates the data to ensure all information is correct, including verifying periods, subsidiaries, and budget categories.
Effortlessly update NetSuite: With just a few clicks, you can push the updated budget back into NetSuite, ensuring your financial data stays synchronised and up to date.
This automated process ensures that your budgets are accurately reflected in NetSuite via NetSuite’s API, without the need for manual data entry or time-consuming uploads.
Benefits of Using Solution 7 for Exporting and Reimporting NetSuite Budgets.
By incorporating Solution 7 into your workflow, you’ll enjoy a variety of key benefits:
Streamlined Workflow: Simplifies the process of exporting, managing, and reimporting budgets, reducing manual work and administrative overhead.
End-to-End Budgeting in Excel: Perform and entire budgeting cycle from within Excel, including automating distribution to stakeholders.
Accuracy: Minimizes the risk of errors with automated data mapping and reimport functions.
Collaboration-Friendly: Makes it easy for multiple stakeholders to contribute to budget updates without leaving Excel.
Time-Saving: Eliminates the need for repetitive manual steps, allowing you to focus on strategic financial planning.
Conclusion: Make Your NetSuite Budgeting Process Effortless.
With Solution 7, exporting, managing, and reimporting your NetSuite budgets becomes an efficient and seamless process. Solution 7 enables you to leverage the flexibility of Excel for editing and collaboration, while ensuring that all changes are smoothly integrated back into NetSuite, maintaining the integrity of your financial data.
Click below to watch Simon Miles, Solution 7 Founder, discuss this in a live environment. If you’d like to find out more about how Solution 7 can help streamline budgets and other financial requirements for NetSuite, directly in NetSuite, talk to us today.
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