In NetSuite, “Write Check” is a financial transaction function used to pay a vendor, employee, or other entities directly from a bank account. This feature enables users to record payments for expenses, services, or goods, and it automatically decreases the bank account balance by the payment amount. Here are some key aspects of using the “Write Check” feature in NetSuite:
- Purpose: It allows direct payment for expenses or items without creating an invoice, typically used for immediate payments or reimbursements.
- Payee: You can select the payee, which could be a vendor, employee, or other entity.
- Expenses and Items: You can allocate the check to specific expense accounts (like office supplies) or itemize it for purchasing inventory or other goods.
- Bank Account Selection: The check is associated with a specific bank account, automatically adjusting the account’s balance.
- Memo and Check Number: Optional fields allow adding a memo or specifying a check number for manual or printed checks.
- Printing Option: Checks can be saved for record-keeping or printed directly if you have check-printing capabilities within NetSuite.
“Write Check” is a straightforward way to manage cash outflows without going through the full accounts payable process. This feature streamlines immediate payments while keeping bank account balances accurate and up to date.