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?

Thanks!

Rookie Asked on February 5, 2020 in Accounting.
Add Comment
3 Answer(s)

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.
Add Comment

We plan on using the 3rd option, and are configured as such.  How does this work in the following scenario?

 

Vendor sends us a bill, which we enter from a purchase order.  We pay the pill via credit card outside of netsuites.  Expensify will pull that transaction in.  How do we tie that imported transaction to pay the bill created from a purchase order?

Rookie Answered on February 5, 2020.

I’ve recently been down this path and the current integration between Expensify and NS is not going to take care of this for you. It’s good for employee expense reports but not for paying vendor bills.

on February 11, 2020.
Add Comment

oh right, I forgot about the PO part… hmmm I don’t know of any other way to tie the PO to the Bill unless you bill directly against the PO; I don’t think Expensify has the ability to Bill against a PO yet.. can you check with your account rep to see if that is possible, and if not what they suggest?

 

Rookie Answered on February 5, 2020.

Thanks!  We’ll ask this during our implementation call.

on February 6, 2020.

Any update on this, we are facing the same issue.  What did you eventually do?  Thanks.

on November 14, 2020.
Add Comment

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.
  • This site made possible by our sponsors:   Tipalti   Celigo   Limebox   Become a Sponsor