A Vendor Statement is similar to that of a Customer Statement. It lists vendor transactions which include Bills, Bill Credits, Bill Payments, and Journals.
Unlike customer statements, vendor statements are not yet available in NetSuite. As a workaround, users may customize A/P Register to show all vendor transactions as of a specified time for a specific vendor.
- Bills: These are the core records for what you owe to vendors, often representing invoices received from vendors.
- Bill Credits: These are used when you receive credit from a vendor, often because of returns or adjustments.
- Bill Payments: These are the payments made against the bills to settle outstanding amounts.
- Journals: Occasionally, journals are used in the Accounts Payable process for corrections or adjustments related to A/P transactions.