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Intelligent Payment Automation, powered by BILL (aka Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
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Intelligent Payment Automation, powered by BILL (aka Bill.com), lets you automate payments, manage vendor details, and bank account information within NetSuite.
The SuiteApp is available to organizations based in the U.S. with a valid U.S. address, or to global customers (except Canada, China, and Japan) with U.S. business subsidiaries. It only supports payments to vendors operating in the United States.
For more information, visit this thread.
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How to Handle Construction Retention for Milestone Billing(Tax on Net Amount+Retention Release)
I’m working on a milestone-based billing setup where each milestone has a retention amount held by the customer. I would like to clarify the correct way to handle this scenario in NetSuite.
Business Case:
- Milestone Billing With Retention Deduction
- Example: Certified milestone value = RM1,000,000
- Retention 10% = RM100,000
- Tax should be applied only on the net amount (RM900,000), not on the retention.
- Each milestone invoice must show the gross milestone value, retention deducted, and tax calculated on the net.
- Retention Release at Final Milestone
- When the project is completed, the retention amount (RM100,000) will be released.
- At that point, tax must be applied on the retained amount
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