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SuiteWorld October 6 - 9, 2025: Agenda Builder is live!
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Read on for the latest updates including:
• Agenda Builder launch
• SuiteWorld On Air registration
• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
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Don’t miss your chance to meet our SuiteGurus—NetSuite Support professionals and subject matter experts with extensive experience in select product areas, including OneWorld, Advanced & Basic Accounting, Supply Chain Management, Receivables & Payables, CRM, Account Administration, and the SuiteCloud Platform. Full Conference attendees can prebook exclusive 30-minute one-on-one sessions for your product questions.
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Vendor Prepayment creates debit to liability account?
When you bill a PO prior to receiving it, it creates a debit to Inventory Received not Billed, a liability account.
Likewise if you write a check to a vendor and then create a vendor credit, you end up with a debit to a liability account.
Then better way to manage this is to create a debit to an asset account for prepayments. After all, if the vendor does not deliver they owe you this money back. It should show up as an asset on the books, not as a debit to a liability?
Can NetSuite please provide their reasoning here?
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