RE: Expensify/Vendor Payments

Hello!  We are starting a new process of recognizing our company credit cards as an account in NetSuite (like a bank account).  We are also starting to use Expensify to help with expenses, as well as with recording our CC charges.  One area where we are struggling to comprehend is how Netsuite will account for a credit card charge that pays for a vendor bill.  So we enter a PO, that generates a bill, but we pay for the bill via their online portal.  How do we tie that payment to the bill in Netsuite so that it 1) shows up as paid and 2) doesn’t reflect twice (ie; once via the import, once via the payment).

Anyone else have any experience with this that can give us some insight?


wcoburn Rookie Asked on February 5, 2020 in Accounting.
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3 Answers

Here are some ideas:

1) You can manually apply the payment in NetSuite and choose the credit card account as the payment account.  Then you won’t have to sync from Expensify.

2) You can manually record the credit card transaction as a JE or however else you record the credit card transactions at the end of the month, again not syncing Expensify.

3) You could configure your export settings to bring this in as a non reimbursable vendor bill and bill payment.

RE: Expensify/Vendor PaymentsSettings > Choose your policy > Connection > Configure > Export Tab

Rookie Answered on February 5, 2020.
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