NetSuite Vendor Bill Status

Effective accounts payable management is essential for businesses of all sizes. Among other things, it involves paying vendors for goods or services and keeping track of the payment process. NetSuite’s vendor bill record simplifies the accounts payable process by allowing users to create, track, and pay bills to vendors seamlessly.

Vendor bills are records of the goods or services that a vendor has provided to a business, along with the amount due and due date. In reality these are documents sent to the business from their supplier but once entered in to the system they are recorded as a vendor bill record. These records are used to manage and track a company’s costs and expenses and ensure that vendors are paid promptly.

Understanding the different NetSuite vendor bill statuses is crucial to ensure that bills are appropriately processed and tracked. These statuses indicate the progress of a vendor bill from its creation to payment. In this article we will review all the available statuses for vendor bills, what they mean and how they affect the available actions.

NetSuite Bill Form showing Open Status

What are the NetSuite Vendor Bill Statuses?

Although the list of statuses available for vendor bills is not as extensive as some of the other transaction types in NetSuite, they are still important to understanding the system better. The complete list of statuses is as follows:

  • Pending Approval: The vendor bill is not yet a posting transaction and as awaiting supervisor approval.
  • Rejected: The bill has been rejected during the approval process but can be edited and resubmitted if necessary .
  • Cancelled: This is an irreversible state that prevents the bill from being resubmitted or posted to the books.
  • Open: This indicates the vendor bill has been approved and is ready to be paid.
  • Payment in Transit: This status is used when the In-Transit Payments feature is activated. It indicates that a payment has been made but has not arrived in the vendors bank yet.
  • Paid in Full: The bill has been completely paid and no further payments can be allocated to it.

The above statuses all indicate something different about where the vendor bill is in its process lifecycle. It is important to use the statuses to aid in your reporting and understanding of the accounts payable environment of your system.

How to View the Status of a Vendor Bill in NetSuite

Statuses for all transaction types in NetSuite, not only vendor bills, can be seen clearly on the face of the record itself.

Navigate to a vendor bill in your system and you will see the status in a grey box to the right of the vendor name at the top of the form.

NetSuite Vendor Bill showing an Open Status

On the Default view of the bills list page you will also see a filter for status. This filter groups the statuses as open or paid. It is not as detailed as the full list of statuses but it still allows you to identify the bills that are outstanding and requiring action.

NetSuite Bill List View with status filter

The bill’s status also drives its presence on a number of other pages in NetSuite. This is how the system indicates what actions need to happen next, allowing you to manage the lifecycle of the vendor bill with minimal effort.

These pages include

  • Approve Bills: This page shows all unapproved vendor bills in the system.
  • Pay Bills (Bill Payments): This page gives a list of all the bills currently ready for payment. This list can be filtered by a number of different factors including the records due date.
NetSuite Bill Payments Page

NetSuite Vendor Bill Statuses and the Bill Payment Process

Knowing the statuses listed above is only useful if you know where they fit in to the bill payment process. Every system is different since setup and preferences vary, however, the following is a basic example of the process for bill payment from the viewpoint of the vendor bill status. This will give you enough of an understanding to look at your own system and make sense of it.

NetSuite Bill status process flow

After the vendor bill is entered in to the system, assuming you are using bill approvals, the record will enter a Pending Approval state. When the bill is Pending Approval it is not yet a posting transaction and will not appear in the books.

The designated person will be able to approve reject, or cancel the bill whilst in this state. If the bill is rejected it can be edited and resubmitted for approval. If the bill is cancelled it cannot be resubmitted and will never be posted in the books. If the bill is approved it moves to an Open status.

In an Open status the Accounts Payable team can allocate partial or full payments to the bill. Once payments have been applied to the entire value of the bill it moves to a Paid in Full status.

Remember, if you are using the In-Transit Payments feature, the process above may differ slightly.

Frequently Asked Questions about Vendor Bill Statuses

Can I change the status of a bill in NetSuite?

The status of the vendor bill isn’t something that can be changed at will. Each status is tied to the completion of a certain action in the system. Read the example process flow above to understand more.

How do I know the status of a vendor bill in NetSuite?

The status of a vendor bill can be picked up in a search, report or list view but is also visible on the face of the record next to the vendors name.

What is the difference between the vendor bill and the vendor payment in NetSuite?

Although the vendor bill can have a Paid in Full state it is not the record that actually records the payment. The bill records the credit to accounts payable and the debit to the expense account. It does not affect the bank account. The bill payment record is what reduces the bank balance.

What does it mean if the vendor bill status is Open?

If the vendor bill status is showing as open then, although there may already be payments applied, the bill still has an unpaid balance. This means you are in debt to your vendor and, if the due date has passed, a payment should be arranged.

In conclusion, understanding the different vendor bill statuses in NetSuite is crucial for managing your bill payment process efficiently. From bills awaiting approval to cancelled bills that are no longer valid, each status signifies a specific stage in the process and indicated to the team what step needs to be taken next.

By keeping track of the status of each vendor bill and ensuring that they are updated accordingly, you can help to prevent payment delays and maintain good relationships with your key vendors.

Ultimately, a clear understanding of NetSuite vendor bill statuses can help to streamline your accounts payable processes and improve your overall financial management.

Understanding transaction statuses is one way to make sense of your NetSuite environment. Use the following articles to get an even deeper understanding of the system:

NetSuite Global Search

How to Attach a File to a Record or Transaction in NetSuite

NetSuite Dashboard Shortcuts

How To Find The Internal ID

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