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.