We investigate numerically the energy flow and radiation efficiency of accreting neutron stars as potential ultraluminous X-ray sources (ULXs). We perform 10 simulations in radiative general relativistic magnetohydrodynamics, exploring six different magnetic dipole strengths ranging from 10 to 100 GigaGauss, along with three accretion rates, 100, 300, and 1000 Eddington luminosity units. Our results show that the energy efficiency in simulations with a strong magnetic dipole of 100 GigaGauss is approximately half that of simulations with a magnetic dipole an order of magnitude weaker. Consequently, radiation efficiency is lower in simulations with stronger magnetic dipoles. We also demonstrate that outflow power increases as the magnetic dipole weakens, resulting in stronger beaming in simulations with weaker magnetic dipoles. As a result of beaming, simulations with magnetic dipole strengths below 30 GigaGauss exhibit apparent luminosities consistent with those observed in ULXs. As for the accretion rates, we find that higher accretion rates lead to more powerful outflows, higher kinetic efficiency, and lower radiation efficiency compared to those of lower accretion rate simulations.