Detailing how to use Vendor Bill Instalments in NetSuite.

  1. Enable Features
    1. Setup > Company > Enable Features > Advance Features >
    2. Check AP (Vendor Bills) and /or AR (Customer Payments for invoice) by navigating to, Setup > Company > Enable Features > Accounting Preferences > Accounting Tab > Basic Features.

 

  1. Set Preferences for Instalments
    1. Go to, Setup > Accounting > Preferences > Accounting Preferences.
    2. Click the “General” subtab.
    3. Under Accounts Payable, check the “Allow Bill Consolidation of POs with Different Terms” box (If this preference is enabled, the first instalment term is applied to any additional bills created for that purchase).
    4. Click Save.

 

  1. Create Instalment terms
    1. Go to, Setup > Accounting > Setup Tasks > Accounting Lists > New.
    2. On the “Add to Accounting List” page, select
    3. Check the Instalment checkbox and complete the rest of the fields.
    4. Click Save.

vendor bill instalment

4. If creating Purchase order, go to Billing subtab and choose the payment terms in terms field. The Instalment payment plan will show-up at the bottom page and will be carried over once billed, instalments are generated from the linked purchase order. To view or add billing instalment payment plans in Standalone Vendor bills, go to Billing subtab.

  

Purchase Order

purchase order

 

Standalone Vendor Bills

standalone vendor bill

5. Process EFT bill payment batch as normal.

On Select Transaction sublist, the bill created with instalment payment plan will show multiple times with same reference numbers, dates and accounting period but with different due dates and identifier numbers in the Instalment Ref No. column.

When paying a bill in instalments, each instalment is treated as a separate bill and has its own reference number.

Vendor bill

You can now use the Due date and instalment number field as filter to dynamically update your saved search to be used for Automatic Batch Processing.

 

automatic batch processing

For additional info including how to set up vendor pre-payments, head to our resource library for training videos and step by step demonstrations.