-
How to Refund Customer via Bill.com in Netsuite?
I researched this and found that one possible workaround is to set up the customer as a vendor and process the refund through the vendor payment flow (vendor credit). However, this may require additional accounting steps, such as journal entries or clearing-account reconciliation, and could potentially create…
-
Excess Payment refunded from vendor
We are using vendor prepayments for one of our regular vendors in NetSuite. Scenario: We created vendor prepayments and later applied them against vendor bills. After allocation, we identified that an excess amount was still remaining in the vendor prepayment balance. We contacted the vendor (DHL), and they refunded the…
-
How to process Vendor Refunds?
We have over-paid a vendor. The vendor has transferred the surplus funds back to our bank account. How do I process this in Netsuite. In other ERPs, I would book this deposit on the vendors account and allocate it against the overpayment on account or credit note. I don't think I am able to do the same here. What is the…
-
WATCH: How to Record a Received Check from Vendor Refund
This video contains the steps to recording a received check from a vendor refund.
-
Vendor Return creating credit card credit
We have lots of vendor bills that get automatically charged to our credit card, which means a credit would also get charged there. We have received product on a purchase order, billed it, then determined something is wrong and do a return authorization. The only option in the Vendor Return Authorization is to "Refund" but…