Financials First

What is Financials First?

‘Financials First’ is an approach or strategy in business software implementation where the financial management modules of an enterprise resource planning (ERP) system, like NetSuite, are implemented and prioritized before other modules or functionalities. This approach focuses on establishing a strong foundation for financial management and accounting processes within an organization before expanding to other areas such as operations, sales, or human resources.

Related terms

30-Day and 13-Week Operating Cash Burn

30-day and 13-week operating cash burn are also known as the “burn rate.” These are the rates at which a business consumes its cash reserves.

5 Journal Entries Every SaaS Accountant Needs

SaaS accountants face complex tasks. Here are 5 essential journal entry examples they need to master.

Accounts Payable Days

Accounts payable days show how long it takes your business to pay suppliers – a key metric for cash flow, working capital and supplier trust.

Accounts Payable Turnover

Accounts payable turnover shows how often a company pays suppliers. Learn the formula and what it reveals about short-term liquidity.

Accounts Receivable Turnover

The accounts receivable turnover ratio (or debtor turnover ratio) allows businesses to evaluate their debt collection efficiency.

Advanced Reporting

Advanced reporting refers to a sophisticated approach to generating and analyzing reports using advanced tools, techniques, and technologies.