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12 Easy Steps to Creating a Memorized Transaction in NetSuite
Businesses often have recurring transactions that they need to post. To help eliminate manual data entry of recurring transactions, NetSuite offers a feature called Memorized Transactions. When creating memorized transactions, you can choose to set reminders for when they need to be run, or have them run automatically. Automatic transactions can either be set to run a certain number of times, or they can be set to run forever. It is important to note that not all items can be memorized – below are the list of transactions that can be memorized: Creating Invoices Creating Journal Entries Creating Estimates Writing Checks Entering Purchase Orders Entering Bills Entering Sales Orders Using Credit Cards Entering Cash Sales Creating Statement Changes Entering Work Orders This blog will review 12 easy steps to creating a memorized transaction in NetSuite. Step 1: Fill out Transactional Information The first step is to go to the transaction […]
NetSuite Commissions and Outsourced Payroll in 3 Easy Steps
The sales commission functionality, part of the Incentive Compensation module in NetSuite, is robust with a solid feature set that supports varied compensation requirements. It allows you to easily pay commissions through the NetSuite payroll module or through standard Accounts Payable process (Vendor Bills). But what if you outsource your payroll processing to ADP, PayChex, Paylocity or another payroll processing service? How do you effectively process your commissions within NetSuite to support payment through the payroll provider? Here’s the step-by-step process on how to make it work. Step 1:  Setup the Required Accounts You will need to set-up a few new accounts if these do not already exist within your NetSuite environment. When setting up these accounts, pay particular attention to the account Type as this is critical to allowing the commission related transactions to be entered and processed properly. Commissions Payable– This account will be used to record the […]
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