NetSuite NFP (Non-Profit) Solution

NetSuite NFP Solution

NetSuite NFP is a software solution for Non-Profit (NFP), also referred to as Not-for-Profit (NFP), including non-profit accounting, editions, custom segments, restriction custom segment, time restriction custom segment, region custom segment, program custom segment, grant custom segment, revenue type custom segment, revenue subtype custom segment, functional expense custom segment, segment codes, constituent relationship management, constituents, households, soft credits, contribution types, grants, grant milestones, indirect cost allocation for grants, pledges, donations, online donations, restrictions, grant or pledge write-off, merchandise sales, and analytics categories. Non-Profit (nonprofit) organizations can use NetSuite NFP for non-profit relationship management, fundraising management, accounting, and reporting. NetSuite NFP is available for United States, United Kingdom, Australia, and New Zealand.

To help you better understand NetSuite NFP description, features, and functionality, our NetSuite NFP certified and authorized consultants will discuss:

NetSuite NFP (Non-Profit) Accounting

NetSuite NFP (Non-Profit) Accounting is the process of recording, reporting, and planning the finances of a non-profit organization. Non-Profit accounting includes fund accounting, financial statements, and compliance. Fund accounting allows non-profit organizations to track restricted and unrestricted funds, and ensure that contributions are spent appropriately.

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NetSuite NFP (Non-Profit) Editions

NetSuite NFP (Non-Profit) Editions include NetSuite Social Impact Donation Edition, NetSuite Social Impact Starter Edition, and NetSuite Social Impact Standard Edition.

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NetSuite NFP (Non-Profit) Custom Segments

NetSuite NFP (Non-Profit) Custom Segments are custom classification fields that can be set on various records. Custom segments are available as fields or columns on line items when creating grant opportunities, pledge orders, donation cash sales, and other transactions. Applicable custom segments include Restriction, Time Restriction, Region, Program, Grant, Revenue Type, Revenue Subtype, and Functional Expense.

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NetSuite NFP (Non-Profit) Restriction Custom Segment

NetSuite NFP (Non-Profit) Restriction Custom Segment allows for contributions to be tagged as restricted by the donor, and for management of the release of restricted funds.

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NetSuite NFP (Non-Profit) Time Restriction Custom Segment

NetSuite NFP (Non-Profit) Time Restriction Custom Segment allows for contributions to be tagged as restricted by the donor for use in a future year. For example, multiyear grant funding.

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NetSuite NFP (Non-Profit) Region Custom Segment

NetSuite NFP (Non-Profit) Region Custom Segment allows for contributions to be tagged as restricted by the donor for use in specific region or geographical area, and on expense transactions to tag the region for the expense incurred.

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NetSuite NFP (Non-Profit) Program Custom Segment

NetSuite NFP (Non-Profit) Program Custom Segment enables program management. On revenue transactions, the program can identify the purpose of a restriction placed by the donor. On expense transactions, the program can identify the purpose for the expense incurred.

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NetSuite NFP (Non-Profit) Grant Custom Segment

NetSuite NFP (Non-Profit) Grant Custom Segment enables grant management to track revenue and expenses for grants.

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NetSuite NFP (Non-Profit) Revenue Type Custom Segment

NetSuite NFP (Non-Profit) Revenue Type Custom Segment allows for revenue transactions to be tagged as revenue types, such as grants, pledges, and donations.

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NetSuite NFP (Non-Profit) Revenue Subtype Custom Segment

NetSuite NFP (Non-Profit) Revenue Subtype Custom Segment allows for revenue transactions to be additionally tagged as revenue subtypes.

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NetSuite NFP (Non-Profit) Functional Expense Custom Segment

NetSuite NFP (Non-Profit) Functional Expense Custom Segment allows for expense transactions to be tagged for the purpose of the expense.

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NetSuite NFP (Non-Profit) Segment Codes

NetSuite NFP (Non-Profit) Segment Codes define the valid combinations of custom segments and standard segments that can be set on various records. On a transaction, when a segment code is selected for a line item, the values in custom segment fields and standard segment fields are sourced from the segment code record.

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NetSuite NFP (Non-Profit) Constituent Relationship Management

NetSuite NFP (Non-Profit) Constituent Relationship Management is used to track relationships between different constituents and aggregate the information of all the constituents of a family using households. Constituent Relationship Management feature includes constituents, households, and soft credits.

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NetSuite NFP (Non-Profit) Constituents

NetSuite NFP (Non-Profit) Constituents relationship provides the ability to create, link, and track relationships between different constituents, tag constituents with a relationship type, and activate and deactivate relationships manually or based on date range. Constituents can be individuals or organizations. Constituent relationships can be between individuals or between individuals and organizations.

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NetSuite NFP (Non-Profit) Households

NetSuite NFP (Non-Profit) Households feature provides the ability to aggregate the information of all the constituent individuals of a family. A household has one primary member. A spouse or partner, multiple children, and other members can be added to a household.

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NetSuite NFP (Non-Profit) Soft Credits

NetSuite NFP (Non-Profit) Soft Credits feature provides the ability to recognize constituents who participated in a contribution. With soft credits, multiple constituents can be given credit for a contribution.

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NetSuite NFP (Non-Profit) Contribution Types

NetSuite NFP (Non-Profit) Contribution Types include grant, pledge, and donation.

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NetSuite NFP (Non-Profit) Grants

NetSuite NFP (Non-Profit) Grants feature supports contribution grants and cost reimbursable grants (exchange agreements). A grant opportunity can be created to record a grant when it is in the proposal stage. A grant opportunity can be converted to a pledge order (sales order) or invoice. For contribution grants, the revenue is booked when the grant is awarded. For cost reimbursable grants (exchange agreements), the invoices are generated according to the agreement to bill the actual time and expenses.

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NetSuite NFP (Non-Profit) Grant Milestones

NetSuite NFP (Non-Profit) Grant Milestones track the milestones for grants, such as approval or reporting deadlines. Grant milestones enable compliance with grant terms and conditions.

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NetSuite NFP (Non-Profit) Indirect Cost Allocation for Grants

NetSuite NFP (Non-Profit) Indirect Cost Allocation for Grants enables non-profit organizations to recover indirect costs incurred from grants according to agreements. Non-Profit organizations can specify a provisional rate on a grant to calculate indirect costs using the total allowable direct costs incurred on a grant.

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NetSuite NFP (Non-Profit) Pledges

NetSuite NFP (Non-Profit) Pledges feature supports unconditional pledges and conditional pledges. Pledges received from donors can be recorded by creating pledge orders (sales orders). A pledge order can be converted to an invoice, whereby the revenue is marked as a pledge receivable. Depending on the agreed-upon payment schedule, multiple invoices may need to be created for a single pledge order. An unconditional pledge is a promise to pay a specified amount by the due date. A conditional pledge is where the donor places a condition on the pledge, and one or more actions must be completed before pledge payments can begin. Track conditional pledges by adding tasks for the required actions, whereby the pledge order cannot be billed to an invoice until the tasks are completed.

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NetSuite NFP (Non-Profit) Donations

NetSuite NFP (Non-Profit) Donations received from donors can be recorded by creating cash sales.

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NetSuite NFP (Non-Profit) Online Donations

NetSuite NFP (Non-Profit) Online Donations enable non-profit organizations to capture one-time, anonymous, and recurring donations from a website. Online donations include a configurable and customizable HTML online donation website page that can be integrated into an existing website. When a donor submits a donation from the website, an online donation transaction and donation receipt are generated. Online donations use payment link feature to receive online donation payments and enable donors to track online donations using the customer center.

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NetSuite NFP (Non-Profit) Restrictions

NetSuite NFP (Non-Profit) Restrictions can be set by donors on contributions (grants, pledges, donations). After the restrictions have been satisfied, the revenue can be released from restriction by creating a Release from Restriction custom transaction for the amount.

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NetSuite NFP (Non-Profit) Grant or Pledge Write-Off

NetSuite NFP (Non-Profit) Grant or Pledge Write-Off enables the write-off of a grant or pledge, if a donor did not pay, by creating a Receivable Write-off custom transaction for the amount to remove the overdue grant or pledge receivable.

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NetSuite NFP (Non-Profit) Merchandise Sales

NetSuite NFP (Non-Profit) Merchandise Sales revenue can be recorded by creating cash sales.

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NetSuite NFP (Non-Profit) Analytics Categories

NetSuite NFP (Non-Profit) Analytics Categories include expense, revenue, and financial for non-profit organizations. Financial analytics include financial statements required by the Financial Accounting Standards Board (FASB).

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