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Discover new innovations across NetSuite with 2026 Release 2
■ NetSuite 2026.2 Release Notes
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■ NetSuite 2026.2 Release Notes
■ NetSuite SuiteApps Release Notes
■ NetSuite Sneak Peeks
■ Release Preview Guide
■ Release Preview Test Plan Template
Action Required: Review and submit pending reconciliation matches before the NetSuite upgrade to avoid rework. After 26.2, unsubmitted matches will be unmatched. For more details, see SuiteAnswers 1047397
vendor Downpayment with Tax
Hi expert,
I have scenario due to Purchase or Sales transaction, after creating PO or SO, before delivering or receiving the goods, i should collect or paid in advance to vendor or customer with tax. Here is the Accounting Journal to be result in the transaction as follows:
- Create PO total USD 1000 Tax 100 = Usd 1100
- Paid in advance for 400 Tax 40:
- Journal will be : Vendor advance (400-DR) Tax (40-DR) and Payable (440-CR)
- Finance Paid the advance bill
- Journal will be : Payable (440-DR) Bank (440-CR)
- Receive the goods
at the end of balance sheet, accounting should know, Vendor advance for $400 is belongs to which vendor
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