Sales and Purchase Functionality Available in Custom Transactions

Generally, sales and purchase custom transactions function the same as standard transactions, for example, invoice or vendor bill. Currently, the following features are supported by sales and purchase custom transactions:

• Items Subtab Support -Sales and purchase custom transactions support the Items subtab, where you can include details of items for sale and for purchase. For more information, see Adding Items on a Sales Transaction.

• Expenses Subtab Support -Purchase custom transactions support the Expenses subtab, where you can include expense details related to purchases. For more information, see Vendor Bills.

• Tax – Sales and purchase custom transactions support SuiteTax only, not legacy tax. For more information, see SuiteTax.

  The Standard Tax Report includes sales and purchase custom transaction details. For more information, see Generating a Standard Tax Report in SuiteTax.

• Apply Subtab Support -Sales custom credit transactions support the Apply subtab, where you can apply transformed custom transactions to the source transaction. The Apply subtab has the same fields as the Apply subtab for credit memo and displays the same set of transactions. For more information see Applying a Customer Credit Memo.

• Inventory impact and costing – Sales and purchase transactions can increase or decrease your stock level. If you purchase an inventory item using a posting credit custom purchase transaction, your stock level increases. Your last purchase price and average inventory price are updated. If you sell an inventory item using a posting debit custom sales transaction, your stock level decreases. Cost of Goods Sold accounting lines are automatically posted to the transaction, depending on your inventory valuation method. For more information, see Setting Inventory Costing Preferences.

• Revenue Recognition – You can use both revenue recognition and advanced revenue management features with sales custom transactions. Revenue recognition and advanced revenue management work the same with sales custom transactions as they do when created from an invoice or credit memo. For more information, see Revenue and Expense Recognition Overview.

• Amortization – You can attach amortization schedules to your purchase custom transactions in the same way as you do it for vendor bills. For more information, see Expense Amortization.

• Currency Revaluation – You can enter your transaction in various currencies. They get revalued at the end of the month or at the time of their payment. For more information, see Currency Revaluation Transactions.

• Multi–Subsidiary Customer and Vendor – You can use multi–subsidiary customers and vendors on sales and purchase custom transactions. For more information, see Transactions Available for Multi-Subsidiary Vendors.

• Elimination – Intercompany transactions are automatically eliminated at the end of the month if you have the Automated Intercompany Management feature enabled. For more information, see Automated Intercompany Management Overview.

• Promotions, SuitePromotions, and Discounts – You can apply promotions, SuitePromotions, and discounts to sales custom transactions. For more information, see Promotions Overview.

• Shipping – You can use the shipping feature with sales custom transactions to manage your company’s shipping needs. For more information, see Shipping. When an eligible SuitePromotion is added, the shipping discount is applied after you calculate the shipping costs. For more information, see Shipping Promotions and Multiple Shipping Routes.

• Gift Certificates – You can sell gift certificates on sales custom transactions. Then you can apply those gift certificates toward payments of future transactions. For more information, see Gift Certificates.

• Installments – You can use the installment feature with sales custom transactions (debit type) and purchase custom transactions (credit type). Installments on sales custom transactions work the same as they do with creating the installment from an invoice. Installments on purchase custom transactions work the same as they do with vendor bills. For more information, see Creating Installments and Vendor Payment Installments.

• Landed Costs – You can calculate landed costs for purchase custom transactions. Landed costs work the same for purchase custom transactions as they do for vendor bills. For more information, see Landed Cost Overview.

Additionally, you can create transformation workflows to support your business transaction flows. The following transaction transformations are supported by sales and purchase custom transactions:

• Sales custom transaction type to sales custom transaction type

• Purchase custom transaction type to purchase custom transaction type

• Invoice to sales custom transaction type

• Sales custom transaction type to invoice

• Sales order to sales custom transaction type

• Sales custom transaction type to customer payment

• Sales custom transaction type to customer refund

• Sales custom transaction to cash sale

• Cash sale to sales custom transaction

• Purchase order to purchase custom transaction

• Return authorization to sales custom transaction

• Vendor bill to purchase custom transaction

• Purchase custom transaction to vendor bill

• Vendor return authorization to purchase custom transaction

• Sales custom transaction to cash refund

• Sales custom transaction to credit memo

• Purchase custom transaction to vendor credit

• Purchase custom transaction to vendor payment

For more information, see Supported Transformation Types.

To view a sample of a sales and purchase transaction workflow, see Sales Custom Transaction Transform Action Workflow Example. For more information about workflows, see SuiteFlow Overview.

Taxation for sales and purchase custom transactions is calculated the same way as it is for standard transactions. The following table shows the relationship between sales and purchasing custom transactions and the standard transactions that calculate tax the same way.

For more information, see Custom Transaction Type Association with a SuiteTax Plug-in.

General Notices