NetSuite: New Vendor Prepayment Feature

Share this post

Share on facebook
Share on linkedin
Share on twitter
Share on email

A new powerful feature that will enhance your user experience

Overview

Paying vendors a deposit is a standard prerequisite for placing orders in APAC, EMEA, and Northern Europe, as most vendors require a certain amount before accepting a PO or beginning the work. Years later, NetSuite allows users to record vendor deposits and apply them against one or several bills while accounting is only done when the final bill is received. 

What are the benefits?

It makes it easy now to determine how many outstanding vendor deposits there are as well as their aging through specific views. 

How do I Set it up

  1. Enable Account Payables
  2. Enable “Vendor Prepayment  “Enable Features > Accounting > Basic Features”
  3. Set up a Vendor Prepayment account
  4. Use the Bill Machine to see all open Bills for a selected Payee on the same subsidiary and the same currency
  5. Apply Vendor Prepayment to one or multiple bills
  6. Related Records of the bill will show Vendor Prepayment Applications

OR

Reach out to your Big Bang experts and we will happily assist you in setting up the Vendor Prepayment feature at any time.

To get a more detailed description of the feature itself and how it affects your NetSuite user experience, download the PDF below.

[maxbutton id=”1″]

 

Big Bang 360

Reach us

Discover the Big Bang unbiased consultative approach with expertly trained and well-versed cloud specialists.

map-world
FaviCon-breadcrumb
FaviCon-breadcrumb
FaviCon-breadcrumb

How does your organization stack up?

Take the Big Bang 360° Business Assessment to uncover opportunities concerning your people, processes, or technology.

NetSuite: New Vendor Prepayment Feature

Welcome to the Big Bang website.

We invite you to fill in your contact information to unlock full access to all the resources available in Big Bang Insights.

NetSuite: New Vendor Prepayment Feature

Welcome to the Big Bang website.

We invite you to fill in your contact information to unlock full access to all the resources available in Big Bang Insights.

Why are you contacting us today?

A Big Bang representative will contact you within 24-hours.

Strategy and planning

Cloud solutions and consulting

Staffing and training

Grow my career

Not sure? Get in touch with an expert

What are you most interested in?

A Big Bang representative will contact you within 24-hours.

Applying for a job or internship

Exploring the life of a consultant

Not sure? Get in touch with an expert

Contact us

A Big Bang representative will contact you within 24-hours.

CERTIFICATIONS