Jira code-TAG-39

This proposal covers the method for adding the amount as a negative income in the sales account from the customer payment. This proposal also covers the engagement scope of Jobin and Jismi It Services LLP, as an official implementation partner of Oracle NetSuite.

Proposal summary

Ten Acre Gifts would like to add a certain amount in the customer payment as negative income. This amount is not received from the customer because of the product damages. So this amount is treated as income with a negative impact. This document covers the solution for the above-mentioned pain points by making use of custom records, and scripts.

Requirement 

Ten Acre Gifts would like to make a certain amount in the payment record is to be shown as negative income in the records. Ten Acre Gifts receives the amount from the customer which is less than the actual payment amount. This amount should be considered as negative income in the sales account.

Our Solution

We can make use of NetSuite custom records with fields to add the income which is not received from the customer. We will create a new custom record in the payment record with the fields for the amount and the account to reduce the income.  A journal entry will be added according to this transaction manually. In that journal entry, the credited the account receivable amount with the amount that is not received from the customer and the same amount will be debited in the sales account or any income account specified in the custom record. In that journal, the customer name will also be specified. We will apply this journal entry to the payment record of the customer.