Setting Accounting Preferences

To set accounting preferences, go to Setup > Accounting > Accounting Preferences.

To determine how NetSuite applies payments missing invoice numbers, set the Apply Payments Without Invoice Numbers preference on the General subtab in the Accounts Receivable section.

From the list, select your preferred method for handling generated customer payments missing invoice numbers. The method you choose determines how NetSuite suggests invoices for payment application when the imported bank line doesn't specify invoice numbers.

• Apply by payment amount first, then to oldest invoice – NetSuite makes the following suggestions:

  • If an invoice has an amount due equal to the payment, NetSuite suggests that invoice for payment application. The system doesn't consider discounts or preallocated amounts due.

  • If no invoice contains an amount due equal to the payment, NetSuite suggests the customer's oldest invoice or invoices for payment application. The system determines the oldest invoices based on the Aging Reports Use preference, which uses the due date or transaction date. If your aging preference is set to Due Date but your invoices don't specify one, the system suggests the oldest invoice using the transaction date.

    Note:

    If multiple invoices have the same amount due as the payment, NetSuite suggests the oldest invoice from the group for payment application.

  By default, NetSuite uses the Apply by payment amount first, then to oldest invoice method.

• Apply to oldest invoice by date of aging preference – NetSuite suggests the customer's oldest invoice or invoices for payment application. The system determines the oldest invoices based on the Aging Reports Use preference, which uses the due date or transaction date. If your aging preference is set to Due Date but your invoices don't specify one, the system suggests the oldest invoice using the transaction date.

• Keep payment unapplied – NetSuite doesn't display invoice suggestions for payment application or automatically apply the payment to invoices. You must manually apply the payment to the appropriate invoice or invoices. See Recording a Customer Payment.

General Notices