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New to NetSuite | Recreate Sales by Sales Rep Summary in a Saved Search
In a NetSuite, the Sales by Sales Rep Summary report is critical for providing real-time visibility into sales performance, revenue contribution, and pipeline activity by individual sales representatives. Recreating this standard report as a NetSuite Saved Search enhances reporting flexibility, improves operational…
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New to NetSuite | How to Refund a Customer Deposit paid via Payment Link
Refunding customer deposits paid through Payment Links in NetSuite provides a controlled and efficient approach to managing customer reimbursements while maintaining financial accuracy and transaction traceability. Scenario User needed to Refund for a Customer Deposit processed via Payment Link but not sure how to create…
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New to NetSuite | Creating a Deposit record for Undeposited Payment
In NetSuite, Deposit records capture Customer Payments and other incoming funds. Payments are first posted to Undeposited Funds to avoid timing issues, then moved to the Bank Account ledger when a Deposit is recorded, ensuring accurate bank balances. If you record Customer Payments directly to a Bank Account rather than to…
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New to NetSuite | Order to Cash: Application of Customer Deposit
A Customer Deposit allows businesses to collect upfront payments from customers, ensuring commitment and securing cash flow before delivering goods or services. However, to fully serve its purpose, the Customer Deposit must ultimately be applied as a Payment against the corresponding Invoice. Ways to apply Customer…
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New to NetSuite | Order to Cash: Creating a linked Cash Sale
A linked Cash Sale generally refers to a Cash transaction that is connected to other transactions such as Sales Order, Estimate or another linked Cash Sale. A linked record means that information generated will be sourced to an existing record. Created From field will be automatically populated. Ways to create a Linked…
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New To NetSuite | Ways to create a Linked Return Authorization
A linked Return Authorization is created from a Sales Order, Cash Sale or Invoice. It automatically shows the Items from the original sale and is linked to the original sale. This means that information is sourced from an existing transaction to create the authorization, such as Item Prices or Quantities, so information…
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New to NetSuite | Order To Cash: Creating a Payment Instrument
The Payment Instruments feature makes using various Payments Methods more straightforward and, in the case of Payment Cards, more secure. Payment Instruments provide a set of fields that can be used to charge a shopper without any action on the shopper's side. The shopper does not have to take any action when, for example,…
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New to NetSuite | Order to Cash: Creating a Refund
A Customer Refund is a transaction that records a payment you make to a Customer. This payment is generally in the form of currency or a printed Check. A Cash Refund is a transaction that records the return of money to a Customer who immediately paid for goods or services using Cash, a Check or a Credit Card. What can be…
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New to NetSuite | Order to Cash: Creating a Standalone Return Authorization
A Return Authorization form, also known as a Return Materials Authorization (RMA), is a record of expected Customer Returns. This is a non-posting transaction. To enable vendor return authorizations, go to Setup > Company > Enable Features. On the Transactions subtab, check the Return Authorizations checkbox. Ways to…
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New to NetSuite | Customer Prepayments
Prepayment is an advance payment made by a buyer to a seller before the delivery of goods or services. Prepayments are made to secure the delivery of goods or services and to show the buyer's commitment to the transaction. You can now make a prepayment from customer deposits. You can associate a vendor prepayment with a…
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New to NetSuite | Order To Cash: Creating a Billing Schedule
The Billing Schedule record enables you to create Schedules that define how the Bill for a transaction is relayed to the Customer. It determines the frequency with which the Customer is billed and the Amount of each bill. To use the Billing Schedule record, you must enable the Advanced Billing feature, at Setup > Company >…
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New to NetSuite | Order to Cash: Creating a Credit Memo
A Credit Memo is a transaction that decreases the amount a Customer owes you. You can use a Credit Memo to reverse a charge you billed to a Customer. For example, a Customer returns part of an order after you've issued an Invoice. Enter a credit memo to decrease the amount of this open Invoice. A Credit Memo created from a…
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New to NetSuite | Order to Cash: Creating a Customer Deposit
Record a Customer Deposit when a Customer makes an Advance Payment for an order or project. A Customer Deposit record tracks funds the Customer has paid until the goods or services are delivered. These Payments are recorded in your General Ledger as a Liability until the goods or services are actually delivered and do not…
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New to NetSuite | Order to Cash: Creating a Customer Statements
A Statement lists your Customer's transactions, including Invoices, Finance Charges assessed, Credit Memos issued and Payments received. It also contains an Aging Summary at the bottom that shows how long each amount has been due. Ways to create Individual Statements 1. Navigate to Customer Record >click Actions >select…
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New to NetSuite | Order to Cash: Creating a Customer Payment
A Customer Payment is a record of money received from a Customer in exchange for goods or services. It is recorded to reduce the outstanding balance on an Invoice or Account and reflects revenue earned by the business. Customer Payments can be made through various methods, such as Cash, Check, Credit Card, or Electronic…
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New to NetSuite | Order to Cash: Creating a Standalone Cash Sale
A Cash Sale is a transaction that records the Sale of goods or services for which you receive immediate Payment. Enter a Cash Sale when payment for goods or services has been received at the time of delivery. Record Cash Sales by adding each item sold from your Items list. Then, Cash Sale line-items specify the goods and…
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New to NetSuite | Order to Cash: Customer Credit Limits and Credit Holds
Credit Limits and Credit Holds help manage the amount of credit extended to customers. If a customer is behind on payments or reaches a designated credit limit, NetSuite can restrict the entry of new sales transactions on credit. The customer remains restricted from placing new orders until outstanding invoices are paid or…
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New to NetSuite | Order to Cash: Applying a Discount to a Customer Invoice Group
This guide outlines how to apply a discount to one or more invoices within a Customer Invoice Group. This process can be completed either during payment processing or by using a discount item within the invoice record. Applying Discounts to Customer Invoice Groups Important Note: Applying discounts via payment processing…
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New to NetSuite | Order to Cash: Creating a Payment Method
A Payment Method represents an Account that transactions write into. It allows you to configure the Account and define how Payment Processing is carried out. You can also use Payment Methods when configuring Payment Processing Profiles. To create a Payment Method, navigate to Setup > Accounting > Accounting Lists > New >…
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New to NetSuite | Order To Cash: Creating a Standalone Invoice
An Invoice is a record of Sale issued by a seller to a buyer, requesting Payment for goods or services provided, and includes details like Item descriptions, Quantities, Prices, Total Amount due, Invoice Date, and Payment Terms. Record Sales on Invoices by adding each sold item from your Items list. An Invoice is made up…
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New to NetSuite | Difference Between Authorize Return on Sales Order and Invoice
Authorize Return button appears on both Sales Orders and Invoices. Here's the difference between the behavior of the two that can help you know which aligns to your business process more. When you use the Authorize Return on Sales Order , it will only return items that you have already fulfilled. When you use the Authorize…
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New To NetSuite | Order to Cash: Enable the A/R Feature
In any business organization engaged in sales, proper recording and tracking of transactions with customers are essential activities. From invoicing customers for delivered goods and services, offering them payment terms, to accepting customer payments, a reliable system for tracking these processes is a necessity. In…
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New To NetSuite | Order to Cash: Entering Sales Order
A Sales Order is a non-GL impacting transaction as it only documents the commitment to sell Items or Services to a Customer. Sales Orders can be created in two ways: Create a Sales Order from an existing Estimate, a record for Customers to review and request changes before accepting the order You can check the list of…
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New to NetSuite | Issue Customer Refund to Fully Paid Invoice
A customer refund is a transaction that records a payment you make to a customer. Scenario: The customer wants to receive a refund for the invoice that has been paid in full. [toggle] Solution in NetSuite Open the Fully Paid Invoice record Click Credit to create a Credit Memo On the Credit Memo page populate necessary…