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How to handle Merchants for Brokerage Companies

in Ask A Guru 5 comments

Hi guys!

We need your opinion on what record/entity should the Merchants (customers for Brokerage, Investment companies) should be created in NetSuite.

The customers deposit funds to their wallets/accounts and for our client those funds are treated as "Liabilities". They do not create an actual "Invoice" and the Income/Revenue of our client is the commision/fees charged on transacting with those feeds (investing). If we create Merchants as "Customers" we only can select "Default Receivables accounts" while should be a liability account there. Also the reports will not be functional. If we create them as "Vendors" we will have the correct accounting impact but again the reports are not 100% functional and in Business terms this is wrong.

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