Paying a purchase order bill in NetSuite ensures that vendor payments are properly recorded and reconciled. This process involves converting a purchase order into a vendor bill and making a payment using NetSuite’s Accounts Payable functionality.
Step 1: Create a Vendor Bill from the Purchase Order
Once goods or services are received, the next step is to generate a vendor bill against the purchase order.
- Navigate to the Purchase Order:
- Go to Transactions > Purchases/Vendors > Enter Purchase Orders > List.
- Locate the relevant Purchase Order and open it.
- Transform the Purchase Order into a Vendor Bill:
- Click Bill PO at the top of the purchase order form.
- The system will automatically pull in details like items, quantities, and amounts.
- Review the details and click Save to generate the Vendor Bill.
Step 2: Pay the Vendor Bill
Now that the vendor bill has been created, follow these steps to make a payment.
- Go to Pay Bills:
- Navigate to Transactions > Payables > Pay Bills.
- Select the Vendor Bill for Payment:
- Find the bill in the list and check the box next to it.
- Ensure the correct payment amount, date, and account are selected.
- Choose Payment Method:
- Select the payment method (Check, ACH, Wire Transfer, Credit Card, or Other).
- If using a bank account, ensure it is selected in the Bank Account field.
- Process the Payment:
- Click Submit to complete the payment.
- If printing checks, go to Transactions > Bank > Print Checks to print the check.
Step 3: Verify the Payment
- Check the vendor record to ensure the bill is marked as Paid.
- Navigate to Reports > Banking/Budgeting > Bank Register to confirm the transaction.
Conclusion
By following these steps, businesses can efficiently manage purchase order bills and vendor payments in NetSuite, ensuring accurate financial tracking and cash flow management.