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

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, installments 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

 

Standalone Vendor Bills

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.

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.