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New to NetSuite | Customer Prepayments
Prepayment is an advance payment made by a buyer to a seller before the delivery of goods or services. Prepayments are made to secure the delivery of goods or services and to show the buyer's commitment to the transaction. You can now make a prepayment from customer deposits.
You can associate a vendor prepayment with a purchase order. When you associate a vendor prepayment with a purchase order, NetSuite can automatically apply the prepayment to the bills associated with the purchase order. NetSuite does this using the Auto-Apply accounting preference.
To enter vendor prepayments:
- Go to Transactions > Payables > Enter Vendor Prepayment
Shiela Marie Villaluz | Ask a Guru
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