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New to NetSuite | Transaction Permission > Vendor Prepayments Permission
As part of our ongoing New to NetSuite series, we have previously explored the New to NetSuite | Permissions and delved into the New to NetSuite | Permissions > Transaction Subtab.
In this article, we will focus on one specific and powerful permission within this category: Vendor Prepayments
A Vendor Prepayment is a posting transaction that impacts the general ledger without offsetting the Accounts Payable account.
You start providing deposits to your vendor by entering a new vendor prepayment. When the prepayment is applied, the status of the transaction is paid. The bank or credit card account is credited, while the prepayment account is debited.
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Michelle Jabanes | NetSuite Support Community Administrator