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Join the NetSuite community to innovate, connect, and discover what’s next.
SuiteWorld brings thousands of innovators, builders, and leaders together to learn, connect, and shape what’s next. This October, explore how to build a stronger foundation for growth through inspiring keynotes, major product reveals, hands-on sessions, and unforgettable moments—all in one place for our biggest event of the year. Register now
Return of Advances/Prepayments to Vendors/Suppliers
Net Suite's limitations in handling prepayments to Vendors is well known (with the work around offered through Vendor Bill Credit to reflect the correct accounting balance).
Occasionally, a vendor is obliged to return the Prepayment(s) made. Normally, they are debited to Bank and credited to Vendor and again I find NS does not have the way to reflect refunds from Vendor. The amount deposited is not reflected in the A/P Register (customized to reflect Vendor's transactions) or even in a Transaction search filtered for this specific vendor. In other words , NS assumes only payments made to Vendor for accounting not any payments received from him.
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