Setting Subsidiary Preferences for In-Transit Payments

In NetSuite OneWorld accounts, you may want to set additional preferences for individual subsidiaries.

To set subsidiary preferences for in-transit payments:

1. Go to Setup > Company> Subsidiaries.

2. Click Edit next to the subsidiary record.

3. Click the Preferences subtab.

4. Click the General subtab.

5. Check the Use In-Transit Vendor Payments by Default box if you want vendor payments for this subsidiary marked as In-Transit by default. This setting can be changed when you create individual vendor payments.

   This field defaults to the setting for the global accounting preference for Use In-Transit Vendor Payments by Default. After this setting is changed in this field, the setting is no longer sourced from the global accounting preference.

   You can choose this setting for each subsidiary.

   Clear this box if you prefer that vendor payments for this subsidiary are not marked as In-Transit by default.

6. In the Vendor In-Transit Payment Account field, choose an account to function as the interim Cash In Transit (CIT) account for this subsidiary . This is the account where in-transit funds are held until they are confirmed by the vendor’s bank. For more information about a CIT account, read Creating a Cash In-Transit (CIT) Clearing Account.

   In a NetSuite OneWorld account, if you do not set a default account on the Accounting Preferences page, one must be set in this field.

   This field defaults to the setting for the global accounting preference for Vendor In-Transit Payment Account.

7. Click Save.

Related Topics

Setting Accounting Preferences for In-Transit Payments

Setting Approval Routing Preferences for In-Transit Payments

Setting Up a Checking Account for In-Transit Payments

Setting Preferences for In-Transit Payments

General Notices