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Vendor Statements

Are you aware of a feature in Netsuite that helps to remind your vendors about payments for their invoices?   

Tvarana has developed a new app ‘Vendor Statements’ for Netsuite that offers to send statements to your vendors about their pending payments.

What is Vendor Statements?

Vendor Statements facilitates you to remind vendors about pending payments for their invoices. Vendor Statements summarizes vendor’s transactions and generates a statement that usually includes financial transactions such as Vendor Invoices, Bill payments, Journals and Bill Credits.   Further, statements can be printed or emailed to vendors to remind them of pending payments.

The app’s functionality is similar to Netsuite’s Customer Statements, which provides statements to customers.

Ns_VendorStatement_Vendor list1_1_1

Functionality of Vendor Statements

Selecting ‘START’ and ‘STATEMENT’ dates – which is a filter criteria – displays a list of vendors having transactions within the selected date range. Vendors in the list to whom statements are to be sent can be selected.  

Usually, in Netsuite, vendors are associated with various currencies, and each currency has different transactions. The app allows to select currencies for vendors to print transactions for that particular currency.  

The vendor statement appears as shown below.

Vendor Statement_ with memo_1

The ‘Charge’ column displays the payments to be made for the transactions while the ‘Payments’ column displays the payments that are already made. The amount due is calculated and displayed in the ‘Balance’ column.

The statements either can be printed or sent to respective vendors through email.

Features

Here are the features of the app.

  • Download or Send email to respective vendors with a single click.
  • Select multiple vendors for sending statements.
  • Option to view only open transactions.
  • View statement for selected currency.
  • Can view 25 vendors per page.
  • Configure email senders.

 

 

 

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