Managing numerous vendors in the retail industry can be challenging, especially when tracking and reconciling invoices. While NetSuite’s native functionality supports creating customer statements, it lacks the ability to generate and send vendor statements—a critical feature for many retail businesses. The NetSuite Vendor Statement SuiteApp by Tvarana fills this gap, streamlining NetSuite Vendor Statement Reconciliation by enabling the creation of statements that include vendor invoices, bill payments, journals, and bill credits in one place. Similar to NetSuite’s Customer Statements, this SuiteApp allows businesses to generate and send statements to vendors, keeping them informed of outstanding invoices and improving payment management.
How to use Vendor Statement:
Find the Vendor Statement page by navigating to Transactions > Purchases > Vendor Statement
Following the above navigation opens the Vendor Statement screen with a complete list of vendors and a number of categories for filtering such as Vendor Category, Show Only Open Transactions, Include Zero Balance, Exclude Aging Balance and Select Currency
Once vendors have been filtered based on desired categories, Vendor Statement can generate statements either to print or to be emailed out
Choose from customized templates in the dropdown list under the Email Template option in order to send an email with the statement as an attachment to your vendors.
The email address field will be auto-populated with the bulk emails IDs entered during configuration of the vendor record. You can also manually enter a total of 10 additional email IDs in the provided field.
Click on the Mark All button to generate statements for all filtered vendors in the list. Alternately, click the Unmark All button and manually select vendors from the display list. These actions are only applicable to the current page of results
The Statements in Queue field displays the number of vendors selected for whom statements will be generated
Click on either the Print or Email button to generate your statements
The generated PDF statement opens in a new tab of your browser when you select Print displaying the criteria selected during the filtering process
If you select the Email option, the app generates vendor statements for all marked vendors, which are sent as an attachment to the email addresses in the Email field. You will receive a summary email in your inbox with information such as number of vendors processed, number of failures, number of successes etc.
In the fast-paced retail environment, effective vendor payment management is vital for maintaining smooth operations through clear, organized financial processes. With the Vendor Statement SuiteApp, retail businesses can efficiently track payments, strengthen vendor relationships, and simplify NetSuite Vendor Statement Reconciliation.
