Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
Update your Profile with your Support type to get your Support Type badge.
Expand your NetSuite knowledge by joining our Ask A Guru Live sessions. RSVP on this event now.
Uncover the power of data with the Analytics Hub —your ultimate guide to mastering NetSuite Saved Searches and Reports. Simplify the complex and unlock your organization's true potential. Dive into the Analytics Hub now and soar to new heights!
To help you get the most out of your 2025.2 Release Preview account, review the topics outlined in the 2025.2 Release Preview Guide.
Share Your SuiteWorld Experience & Earn a Special Badge!
Intelligent Payment Automation version 1.0.3 is now available in the SuiteApp Marketplace. The SuiteApp, powered by BILL, lets you automate payments, manage vendor details, and bank account information within NetSuite. Learn more
What is the correct or best practice way of migrating prepayment transactions?
Hi There
I have open vendor prepayments that I was needing to migrate to Netsuite.
These are payments made in the legacy system that have yet to be applied to vendor bills.
What would be the correct method to migrate these to Netsuite?
Creating a vendor prepayment record in Netsuite necessarily requires a bank account to be entered on the vendor prepayment record.
i.e. the GL impact of the prepayment will be:
Dr Advance paid (Current Asset)
Cr Bank
However, I am thinking this will result in the bank account being "credited" twice effectively:
Once when the prepayment transaction is created and once when the bank opening GL entry is migrated to Netsuite.
Tagged:
0