Change
- Associate Vendor Prepayments with a Purchase Order
- Automatic Application of Vendor Prepayments
- Vendor Prepayments Enhancements
- Vendor Bill Approvals in the Employee Center
Associate Vendor Prepayments with a Purchase Order
As of NetSuite 2020.1, you can associate one or more vendor prepayments with a purchase order. You can associate a purchase order and a vendor prepayment in one of two ways:
- After you enter a transaction on the Purchase Order page, you can click the new Enter Prepayment button.
- From the Vendor Prepayment page, using the new Purchase Order dropdown list. You can associate multiple vendor prepayment transactions to the same purchase order. The Related Records subtab on the Purchase Order page provides an overview of the vendor prepayments.
Associating the vendor prepayment to the purchase order is optional. You still can enter and apply your
vendor prepayments without linking them to a purchase order (stand-alone vendor prepayments). For more information on this new NetSuite functionality, read Vendor Prepayment Associated with a Purchase Order.
Automatic Application of Vendor Prepayments
When you associate a vendor prepayment with the corresponding purchase order, you can configure
NetSuite to automatically apply the vendor prepayment to the vendor bills using the new Auto-Apply
Vendor Prepayments accounting preference. When you set this new preference, you do not need to
manually apply vendor prepayments to bills. The Auto-Apply accounting preference records the vendor prepayment application automatically in the background.
For stand-alone prepayments with no associated purchase order, you must complete the application
manually. The following diagram shows the different options when applying vendor prepayments: To streamline this automatic application process, the Auto-Apply accounting preference works using the NetSuite system account. The employee entering or approving the vendor bills does not need to have permission to work with vendor prepayments. The Auto-Apply Vendor Prepayments preference is set by default, affecting all prepayments that meet the Auto-Apply conditions. If the vendor prepayment does not meet the Auto-Apply conditions, you must apply the prepayment manually (for more information about Auto-Apply conditions, see
Auto-Apply Conditions.) If you want to apply prepayments manually, you must clear the Auto-Apply
Vendor Prepayments box. To set the Auto-Apply preference, go to Setup > Accounting > Preferences
Accounting Preferences. Under the Accounts Payable section, check or clear the Auto-Apply Vendor Prepayments box. For more information about the new Auto-Apply setting, read Applying Vendor Prepayments with Auto- Apply.
Vendor Prepayments Enhancements
The core Vendor Prepayments functionality is improved and extended in NetSuite 2020.1. You can now use the NetSuite Advanced PDF and HTML feature to print and customize vendor prepayment vouchers.
Change
You can create custom vouchers using the NetSuite Template Editor, print vouchers in PDF format, or attach vouchers in your communications using the Communication subtab.
Additionally, Vendor Prepayments in NetSuite 2020.1 includes:
- Overall usability improvements.
- Support for Custom GL Lines. For more information, see the help topic Custom GL Lines Plug-in Overview.
- Improved validations to minimize errors when multiple users work with vendor prepayments concurrently.
- Exposure of Vendor Prepayment records in SuiteScript. For more information, see the help topic Transactions in the SuiteScript Records Guide.
Vendor Bill Approvals in the Employee Center
Previously, users with the Employee Center role could not approve vendor bills. As of NetSuite 2020.1, the Employee Center role includes the necessary permissions to review and approve vendor bills.
These permissions are:
- Bills – Grants users the permission to view vendor bills.
- Vendor Bill Approval - Grants users the permission to approve or reject vendor bills. These new permissions in the Employee Center role are not enabled by default. To approve vendor bills in the Employee Center, you must enable the permissions in the role first. You can complete the approval process using the standard vendor bill approval, or a custom vendor bill approval workflow in SuiteFlow. For information about the different approval options, read the help topic Vendor Bill Approvals. For more information about this new NetSuite feature, read Vendor Bill Approvals in the Employee Center.