Applying Vendor Prepayments Manually

In addition to applying vendor prepayments to your bills automatically using Auto-Apply, you can apply the prepayments manually. Applying vendor prepayments manually is required when the Auto-Apply option is not enabled or when the conditions for Auto-Apply are not met. For more information about Auto-Apply, see Applying Vendor Prepayments With Auto-Apply.

Important:

Because Auto-Apply is enabled by default, NetSuite automatically applies the vendor prepayments to the vendor bills when the Auto-Apply conditions are met. If you only want to apply prepayments manually, you must disable Auto-Apply. For information on how to configure Auto-Apply, see Configuring Vendor Prepayments With Auto-Apply.

When applying a vendor prepayment against multiple bills manually, you can choose how the prepayment amount is allocated to each bill. The Bills subtab in the Vendor Prepayment Application page shows the bills available for application.

When applying a vendor prepayment against one or more bills, consider the following information:

• You can apply the full prepaid amount in a single application, or complete multiple applications using the same vendor prepayment.

• You can apply one prepayment to a single bill or to multiple bills, up to the total prepayment amount.

• When selecting bills for application, NetSuite autofills the payment amount using the following criteria:

  • Applies the total bill amount if the bill amount due is less than the unapplied prepayment amount.

  • Applies the total prepayment amount if the bill amount due is more than the unapplied prepayment amount.

  • Excludes other bills for application when you apply the total prepayment amount.

• Alternatively, you can complete the application using the Auto Apply button on the Bills subtab. Auto Apply applies the prepayment amount on bills up to the total prepayment amount.

  Important:

  The Auto Apply button is not related to the vendor prepayment Auto-Apply accounting preference.

  

The Summary box on the Vendor Prepayment Application page shows the applied and unapplied prepayment amounts as you select bills during the application.

To apply vendor prepayments manually:

1. On the Vendor Prepayment screen, click the Apply button.

2. If you are not on the Vendor Prepayment screen:

   1. Go to Transactions > Payables > Enter Vendor Prepayment > List.

   2. Click the View link next to the prepayment transaction you want to apply.

   3. Click the Apply button.

      Note:

      If the Apply button is not available, take note of the following:

      • If you require approval for vendor prepayment transactions, you can only apply prepayments with the status of Approved. For more information, see Vendor Prepayment Approvals.

      • Verify that you have the required permissions enabled for vendor prepayments. For more information, see Configuring Permissions for Vendor Prepayments.

3. Complete the Vendor Prepayment form as described in the section below.

Primary Information

1. The Payee field defaults to the original vendor prepayment payee and cannot be changed.

2. In the Account field, select an active Accounts Payable account for this vendor prepayment application.

3. The Currency field defaults from the vendor prepayment and cannot be changed.

   If there is more than one currency for the payee, you can change the Currency field value. The Currency field is available when using the Multiple Currencies feature. For more information, see Vendors and Multiple Currencies.

4. The Exchange Rate field defaults from the vendor prepayment and cannot be changed.

   The Exchange rate depends on the currency selected for the payee. If the currency of the payee is different from your base currency, note the following. The Exchange Rate field is updated with the corresponding exchange rate value. For more information about exchange rates updates, see Currency Exchange Rates.

5. To modify the Date, enter or pick a different date. The default value corresponds to the current date.

6. To modify the Posting Period, select a different posting period from the list. The default value corresponds to the current posting period.

   If you use approval routing, the posting period is set upon approval. For more information, see Posting Period for Transactions Subject to Approval.

7. To review the vendor prepayment transaction this application comes from, click the Application Of field.

Classification

1. If you use NetSuite OneWorld, from the Subsidiary list, you can select a different subsidiary from the default.

2. Select the Class, Location, and Department if you track them. When selecting a subsidiary, only the Class, Location, and Department for that subsidiary are available.

Bills

1. Check the Apply box for the bill or bills where you want to apply the prepayment.

   Note:

   You must select at least one vendor bill to complete the application.

2. For the selected bill, enter the Payment amount for this application.

3. Alternatively, click Auto Apply to select bills and amounts automatically. Auto Apply applies the prepayment amount on bills up to the total prepayment amount.

Related Topics

Applying Vendor Prepayments With Auto-Apply

Editing a Vendor Bill After the Vendor Prepayment Application

Vendor Prepayment Application

General Notices