Payment Adjustments

The Payment Adjustments feature automates the recording of fees, overpayments, and underpayments on Customer Payment and Customer Deposit transactions.

This feature:

• automatically creates and posts payment adjustments during transaction processing.

• posts the GL impact to the configured revenue or expense account.

• simplifies bank reconciliation and the recognition of bank fees and payment differences.

Setting up Payment Adjustments

To set up payment adjustments:

1. Ensure the Accounts Receivable feature is enabled.

2. Go to Accounting Lists > Payment Adjustments.

3. Configure accounts for the predefined adjustment types:

   • Bank Fee

   • Convenience Fee

   • Underpayment

   • Overpayment

4. Create additional adjustment types when required.

To use payment adjustments on a customer payment or customer deposit, open the Payment Adjustments tab and enter the applicable adjustment. The adjustment increases or decreases the amount available for application to other transactions. When the transaction is saved, NetSuite automatically posts the associated GL impact according to the Payment Adjustment record configuration. You must configure the accounts correctly before you use payment adjustments.

General Notices