January: Tips and Tricks

1 - Writing off Debt or Credit

Sometimes it is necessary to write off debt (an invoice, an under-payment, etc) or credit (an over-payment, credit memo etc). In order to do this, you must do the following:

  1. Create a Journal Entry for the amount you wish to write off. Depending upon whether you are writing off a credit or a debt this will create a DR or CR to Accounts Receivable. You must enter the Customer in the Name field, otherwise this will not work. 
  2. Select whichever account you would like to use as your offsetting account. This would typically be an Expense account, but any type should work. 
  3. Create a Payment for $0 (it must be set to zero). In the 'Invoices' subtab, select the invoice that you wish to write off. In the 'Credits' subtab, select the Journal made in the first step. If you are writing off a credit, then reverse these instructions. 
  4. Save your Payment. 
This will cause the Payment record to disappear, but the write-off Journal Entry and the transaction that was written off will now be tied together, effectively closing both. 

NOTE: It is important to create the Payment in Step 3/4 because though the JE and Transactions balance and leave 0 in the current balance of the customer, both would continue to age perpetually without the Payment record. 

2 - Make Employees available as Contacts

In certain contexts there may be the need to send emails to internal employees through NetSuite. In order to set Employees up as Contacts you must go to Setup > Company > General Preferences > 'Show Employees as Contacts'. This will allow you to send emails to employees, as well as your defined (owned) contacts. 

No comments:

Post a Comment