Enter Vendor Bill before Item Receipt

So I recently joined a company as their accounting manager, and am fumbling my way through NetSuites looking for ways to improve their processes.  One area that I see potential in is entering vendor bills when we receive them, versus when they can be paid.  Currently, we we receive a bill, and one of my employees will validate that we have received the inventory in stock.  If we have, he enters it, if we haven’t, it goes in a binder to be followed up on later.  I see this as a red flag and a way for us to get on the wrong side of a vendor.

Ideally, I’d like to see us enter the invoice/bill in NetSuite, but flag it or something so it doesn’t get paid until our warehouse receives the stock.  Even better, it’d be great if this was an automated process that only required my employee to run a report each day that would show him the new invoices that are eligible for payments.

Are either of these possible, or is our system of waiting to enter the best?

Rookie Asked on October 2, 2019 in Billing.
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2 Answer(s)

We enter our Vendor Bills prior to Receipt quite frequently. A saved search with an alert, or set as a reminder on the AP users dashboard, could be created to show when PO lines with a Bill associated have been received.

Rookie Answered on October 2, 2019.

Thanks for the response!  So there is a way to have it flag and the system alert when the stock is received/.

on October 2, 2019.

We just use a custom search and reminder on the AP dashboard. Criteria would need to include PO lines received with Open Bills linked. Or you could have the search generate an email alert to the AP person. They would be alerted by email when the billed item is received, or the alert can be set up on a schedule (daily, weekly, ect) if you have a high volume.

on October 4, 2019.

Thank you, Lisa!

on October 4, 2019.
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Hello wcoburn, You can handle that by Purchase Order status.

When you enter the vendor bill, but you haven’t received, your Purchase Order will be with the status “Pending Receipt“;

When you receive, the Purchase Order status will be “Fully Billed“.

So you can create saved searches or anything you want to handle these transactions.

PS: I really encourage you or your team to try to create a workflow that sets a user message or even hide the buttons to create payment when the linked Purchase Order doesn’t meet the criteria you want, based on the mentioned statuses.

 

 

Rookie Answered on October 3, 2019.

Thank you for the response!  I received a similar answer elsewhere, and this seems to be the most popular choice.  We’ll give this a shot.

on October 4, 2019.
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