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Intelligent Payment Automation, powered by BILL (formerly Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
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Managing payment plans AFTER invoicing
When we have a customer that cannot pay their invoices we will sometimes setup a payment plan with them. The terms are often quite different, for example we have one customer that pays $10 a month for almost 2 years!!
Here's how the process goes for us:
[LIST=1]
[*]We enter a sales order
[*]We ship the goods and invoice the customer
[*]Once they are past due we begin contacting them
[*]If they need a payment plan we setup Outlook reminders to send statements and or invoices at the agreed upon interval[/LIST]
This has worked fine when we didn't have very many of these situations (5-10 a month) but we are seeing an increase in the request for payment plans and I wanted to setup something more robust and managed, something that didn't rely on basic reminders.
Steve Klett | Senior Developer
NetValue Technology