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Vendor Management Summary

AIS reviewer

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alyssa banta
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8 views1 page

Vendor Management Summary

AIS reviewer

Uploaded by

alyssa banta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Vendor Management Summary

Create New Vendor

Establish vendor records for transactions.

Monitor performance using the Individual Vendor Scorecard.

Create New Contact

Add contacts under vendor records if the vendor is a company.

Vendor Prepayment

Enter Prepayment: Credit bank/credit account, debit prepayment account.

Apply Prepayment to Bill: Offset accounts payable, reducing total payables.

Bill Purchase Order

Create Vendor Bill: Use three methods (from Transactions, Item Receipt, Purchase Order).

Vendor Bill Approvals: Verify bills before payment using Workflow or Advanced Approvals.

Vendor Credit

Create Vendor Credit: For returns, create from Vendor Return record and save for GL impact.

Apply Credit to Bill: Ensure credits are applied to bills before payment.

Process Payment

Use NetSuite Check, ACH, or Credit Card for payments after applying credits.

Vendor Refunds

Record Refund: Enter and deposit refund, crediting Accounts Payable.

Associate Vendor Credit: Link Vendor Credit with deposit via Vendor Payment record.

Key Reports

Procure to Pay Reports: Track unpaid bills, liabilities, and outstanding transactions.

Includes A/P Aging Reports, Open Bills, Inventory Reports.

Custom Reports: Analyze Accounts Payable with saved searches (Open Purchase Orders, Vendor
Rank).

Key Performance Indicators (KPIs)

Dashboard Insights: Monitor metrics like:

Number of Orders, Bills, Late POs, and Procurement data.

Regularly review and manage vendor records to ensure competitive pricing and reliable service. For
detailed processes, consult SuiteAnswers or NetSuite Help.

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