Shared Transactions - Automatically Creating Customer Payments - Intercompany Vendor Bill Automation
Overview
Intercompany Vendor Bill Automation streamlines the reconciliation process by automatically creating and applying a customer payment to the related intercompany invoice when a vendor payment is applied to an intercompany vendor bill. The following walkthrough outlines how this process works.
Prerequisites
- Intercompany Vendor Bill Automation should already be configured to automatically generate a vendor bill in response to an intercompany invoice.
Step-by-step process
- Navigate to Transactions > Payables > Pay Single Vendor.
- Select the appropriate Payee, then locate and select the corresponding intercompany bill for payment application.
- Enter the Payment amount, then Save the Bill Payment record:
- Once the Bill Payment is created, navigate to the intercompany bill. The applied payment will be visible under the History subtab within the Payments sublist:
- Next, navigate back to the intercompany invoice. Under the History subtab in the Payments sublist, the Intercompany Vendor Bill Automation feature will have automatically created and applied a corresponding Customer Payment between the related entities:
Once the full amount has been paid, both the intercompany invoice and the corresponding intercompany bill will be marked as Paid in Full.
Netgain does not set the bank account on the customer payment
When the payment is initiated from an intercompany bill payment, Shared Transactions sets only these fields on the customer payment:
- Customer (entity)
- Subsidiary (the invoice's subsidiary)
- Payment date
- Currency
It then applies the amount paid on the bill to the invoice. It does not set the payment's Account (bank or deposit) field. NetSuite fills in the account with its own defaults. To change this behavior, contact NetSuite Support.
