Hello Everyone ,  It is easier to set goals but it requires lot of efforts to achieve them. That’s where the real challenge lies.  Many people set vague or unrealistic goals and then struggle to follow through. That’s why the SMART goal framework is so effective. It transforms your ambitions into clear, actionable, and achievable objectives.     What Are SMART Goals? SMART is an acronym that stands for:      • Specific – Clearly define what you want to achieve.      • Measurable – Ensure you can track progress and success.      • Achievable – Set realistic goals within your capabilities.      • Relevant – Align goals with your broader objectives.      • Time-bound – Set a deadline to create urgency. By following this structure, you increase your chances of staying focused and motivated. How to Set SMART Goals   Let’s break down each element with an exam...

Hello Everyone, Greetings of the day This post is related to our series of time management system. Everyone often struggles with amount of tasks they have and limited time. Having proper Time Management System is very useful.   Refer to this post for some useful tools/apps Once you have one system and start entering data into system , follow below steps to keep system updated. Enter details when ever you think of a task , today tomorrow or in future. Steps: 1. Choose a system 2. Input tasks from ALL sources 3. Define Next Action Dates 4. Sort by Next Action Dates 5. Act 6. Document/Update Having all data in a centralized system improves time management in several ways: 1 . Quick Access to Information – Employees don’t waste time searching for data across multiple platforms or spreadsheets. Everything is in one place. 2. Automation of Repetitive Tasks – Tasks like time tracking, approvals, and reporting can be automated, reducing manual effort. 3. Real...

Hello Everyone,  In this post let’s discuss implementation of Netsuite WMS.  Implementing NetSuite WMS allows businesses to optimize warehouse operations, improve inventory accuracy, and enhance fulfillment efficiency. Here’s a step-by-step guide covering the full implementation process, from setup to go-live.  Step 1: Planning and Preparation      1. Define Business Requirements:         • Warehouse layout (zones, bins, aisles).         • Picking methods (wave, batch, zone picking).         • Receiving and putaway strategies.         • Shipping workflows (integrated carriers, packing stations).      2. Confirm NetSuite WMS Licensing:         • Ensure you have the NetSuite WMS module activated.           • Verify if additional modules are required:...

Hello Everyone, Life moves fast, and so does your to-do list. Between deadlines , personal commitments, and that never ending stream of emails, it's easy to feel like there just aren't enough hours in the day. You start one task, get pulled into another, and before you know it, the day is over.  Let’s discuss some time management tools to help individuals and teams stay organised, track productivity, and optimise workflows. Here are some of the best tools categorised by functionality: 1. Task & Project Management      • Trello – Visual Kanban boards for organizing tasks.      • Asana – Task and project tracking with team collaboration.      • ClickUp – All-in-one platform for tasks, docs, goals, and automation.      • Monday.com – Workflow automation and team collaboration. 2. Time Tracking & Productivity      • Toggl Track – Simple time tracking for personal and team use. ...

Hi Everyone, In this post we are going to review basic Inventory Management process. I will include all steps, please comment below in case you want to know more or have some suggestions. Implementing Inventory Management in NetSuite involves setting up key features, configuring inventory items, and establishing processes to manage stock levels, orders, and fulfillment effectively.  Step 1: Preparation & Prerequisites      1. Understand Business Requirements:           • Types of inventory (raw materials, finished goods, consigned stock).           • Inventory processes (purchasing, receiving, warehousing, fulfillment).           • Warehousing structure (single or multi-location).      2. Ensure Required Modules Are Available:           • Advanced Inventory Management (optional for advanced features).  ...

Hi,  Many of you ping me about learning more about Revenue Recognition in Netsuite. Adding some of the points to learn more in details.  1. Understand the Basics of Revenue Recognition • Accounting Principles: Get familiar with ASC 606 (IFRS 15) as NetSuite aligns with these standards. • Key Concepts: Understand terms like performance obligations, transaction price allocation, and revenue recognition schedules. 2. NetSuite Revenue Recognition Module Overview • Advanced Revenue Management (ARM): Focus on how ARM automates revenue allocation, forecasting, and recognition. • Revenue Elements: Learn how NetSuite breaks down revenue transactions. • Revenue Arrangements: Understand how arrangements group multiple elements. 3. Core Features • Revenue Recognition Schedules • Revenue Rules (event-based, time-based) • Revenue Plans • Contract Modifications and Adjustments • Revenue Forecasting 4. Practice Already discussed Implementation here. Click to open • Setup: Lear...

Hi All, Advanced Revenue Management (ARM), in NetSuite involves both configuration and process alignment with accounting standards like ASC 606 / IFRS 15 Step 1: Preparation & Prerequisites      1. Understand Accounting Requirements:           Identify performance obligations.             Determine revenue recognition rules (point-in-time, over time, etc.).             Map out revenue streams (subscriptions, services, products).      2. Ensure Required NetSuite Modules Are Enabled:           Advanced Revenue Management (ARM)             Revenue Recognition (Legacy) if still needed             Multi-Book Accounting (optional, if managing GAAP vs. IFRS) Step 2: Enable Revenue Recognition Features     1.  Navigate to:      ...