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SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Join us
Return of Advances/Prepayments to Vendors/Suppliers
Net Suite's limitations in handling prepayments to Vendors is well known (with the work around offered through Vendor Bill Credit to reflect the correct accounting balance).
Occasionally, a vendor is obliged to return the Prepayment(s) made. Normally, they are debited to Bank and credited to Vendor and again I find NS does not have the way to reflect refunds from Vendor. The amount deposited is not reflected in the A/P Register (customized to reflect Vendor's transactions) or even in a Transaction search filtered for this specific vendor. In other words , NS assumes only payments made to Vendor for accounting not any payments received from him.
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