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Closing books faster

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Closing books faster

Hi there -

 

We leverage Zuora as our Billing Engine and NetSuite is our Financial System. Currently, we don't have any integration that sits between these two systems. Anything that is done is downloaded from Zuora and upload the JE's in NetSuite. We are trying to close revenue faster, so wanted to get an understanding of the best practices to speed-to-close for the Zuora-NetSuite customers.  Is there a real time integration between the two systems that is possible?  What are other Zuora and NetSuite customers doing to close the books faster?

 

Thank you for your help in advance.

 

Umesh

2 REPLIES
Zuora Staff

Re: Closing books faster

You have a couple of choices. First option would be to stop downloading everything from Zuora and putting it into NetSuite and to instead leverage Zuora's Z-Finance Revenue and Journal Run features and just key the journal entries into NetSuite at month end.

https://knowledgecenter.zuora.com/CC_Finance/Revenue_Recognition/Getting_Started_with_Revenue_Recogn...

https://knowledgecenter.zuora.com/CC_Finance/F_Summary_Journal_Entries/h_Journal_Runs

 

Second option would be to invest in our NetSuite connector, this add on will automate your current transfer process using a standard Zuora product to replace your current process and allow you to continue to close revenue in NetSuite.

https://knowledgecenter.zuora.com/DB_Integrations_and_Extensions/BB_Z-Suite

 

Guru

Re: Closing books faster

To add to @Richard's comments:

 

There is also a middle ground between the two options he proposed. There is a Connect App that can automate the transfer of the data from Journal Runs into NetSuite. We implemented our own automated transfer before this was introduced, but it essentially does the same thing.

 

https://connect.zuora.com/appstore/apps/configurable-summary-level-gl-interface-1


We expport Cash journal runs every night so our GL has accurate cash totals and then at month end we do one load of the Revenue entries. Its a well oiled machine now and we can close our books quickly.