Yes it can be done.
I've done it 3 different ways -
1. Warehouse sends EDI 945 to Netsuite, which triggers Item Fulfillment and which then triggers Billing.
2. If it is an internal warehouse using Netsuite and they mark the order as shipped, then you can do the same with workflow or a script.
3. You can use a 3rd party app like Celigo to do this as well (essentially it is a script but triggered from the outside).
All 3 work well. Just need to define the process and ensure the triggers to generate Fulfillment and Invoice.