NetSuite Budget Versus Actual Reporting with NFP Segmentation

The native NetSuite report for Budget Versus Actuals does not include Not For Profit segmentation including restriction, grant, and program. This NetSuite limitation can lead to less visibility into an organization’s financial reporting. Budget versus Actual reporting for Non-Profit organizations is used to ensure that funding is being accurately and efficiently used, such as, ensuring grant funding with donor restrictions are properly allocated. Budget versus actual reporting can also assist with resource allocation analysis to determine which segments may require additional or less budget for future years. This reporting can also assist in creating budget forecasts for future fiscal years.

Users can utilize NetSuite SuiteAnalytics Workbook reporting to accomplish this reporting by segmentation. NetSuite SuiteAnalytics Workbook is a reporting tool included with Native NetSuite. The analytics tool includes customized datasets, pivot tables, and charts.

Users can navigate to the analytics tab to view the analytics datasets and workbooks available.

Native NetSuite Budget Versus Actual Reporting

The below image displays the native NetSuite Budget versus Actual reporting without segmentation.

Custom NetSuite Budget Versus Actual Reporting with NFP Segmentation.

The example below displays the Budget Legacy Workbook customized to display the NFP segment Program. To create this pivot chart, we have utilized two different data sets. For the budget data, we have used a Budget Legacy data set. For the actuals, we have utilized a transaction data set.

This customized report for Budget vs Actuals with segmentation allows for greater visibility into the budgeted information. This increased level of financial reporting can lead to additional insights into an organization’s performance and lead to better decisions.

Sammi Kennedy