Recently, the Abaci team came together for our annual company retreat in Montego Bay, Jamaica. While this was our first time out of the country as a company, we knew that it would be another epic company retreat. On Monday, we arrived ready for a week of team projects, enjoying each other’s company, and getting to see some of the beautiful Country of Jamaica.
We look forward to bringing what we’ve learned back to our clients although sadly we won’t be able to bring any of the jerk chicken or daiquiris back.
During the day, our teams worked on different projects with both NetSuite and Adaptive. The functional team split into two different groups and researched the Multibook accounting feature as well as Advanced Revenue Management (ARM) feature. The Multibook feature is extremely useful for companies that must report using multiple accounting standards (etc. GAAP and local statutory reporting standards). NetSuite’s ARM is the feature developed to accurately report under the new revenue recognition accounting standard (ASC 606) and has proven effective for those companies which have already reported under the new standard.
The dev team was split into two groups for their projects. One group focused on learning about and building integrations with Adaptive. The other group focused on building our own Abaci bundle, specifically dealing with intercompany allocations. We hope the knowledge gained through these projects will greatly help our clients with any NetSuite and Adaptive projects they undertake.
Like I mentioned earlier, we didn’t just work while in Jamaica…we also had quite a bit of fun. On one of the days, we went on a catamaran cruise around part of the island. During the cruise, we stopped for a bit of snorkeling as well as some drinks and games at a bar on the ocean. We also paddle boarded, sailed, and even played a little golf back at the resort. I can’t forget to mention all the good food and drinks we got the pleasure of enjoying during our trip.
Cheers from the Abaci team!