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Intelligent Payment Automation, powered by BILL (aka 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.
For more information, visit this thread.
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Where is the "Refunds Payable" account used?
I'm reworking some of our refund policies and I've been advised to do the following:
[snip]
...there is a system account called something like "Refunds Payable". When you check the "Create Check?" box on the Issue Customer Refund screen, it flows thru the Refunds Payable account. The Issue Customer Refund in this scenario would debit A/R (increase the asset), and credit Refunds Payable (increase the liability). Then the linked check would debit Refunds Payable (decrease liability) and credit Checking (decrease asset). So there is a debit and a credit in the Refunds Payable account that wash each other out.
Steve Klett | Senior Developer
NetValue Technology
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