Sales and Purchase Transaction Types Overview

Sales and purchase custom transaction types provide behavior similar to sales and purchase transactions, enabling you to create custom transaction types that use the Item sublist and define the GL impact of transactions. The behavior of sales custom transactions is similar to invoices, whereas purchase custom transactions are similar to vendor bills.

Note:

Sales and purchase transaction types support SuiteTax only, not legacy tax.

A sales custom transaction provides sales transaction functionality that you can incorporate into your sales workflow. For example, Large and Associates, a nonprofit company, relies on donations. They need to record cash donations in NetSuite with payment options like check or credit card. They want to exclude this transaction from accounts receivable. When creating the transaction, users select items on the Items subtab and choose a payment method (cash, check, or credit card) to post the payment. A sales custom transaction meets these requirements.

Sample Sales custom transaction highlighting the Account field on the Accounting subtab.

A purchase custom transaction provides purchase transaction functionality that you can incorporate into your purchase workflow. For example, when Acme Medical Supply in Brazil imports goods, the company is responsible for issuing a Nota Fiscal to be able to carry the goods from customers at the port of arrival, to its own premises. A purchase custom transaction can meet these requirements.

Sample Purchase custom transaction highlighting the Account field.

For information about available sales and purchase functionality in custom transactions, see Sales and Purchase Functionality Available in Custom Transactions.

Related Topics