Accept Deposits on Sales Orders and Invoice Flows


There are a number of great enhancements in NetSuite’s 2012.1 Release. One of them is the ability to accept deposits on sales orders and invoice flows. We’ve had several customers request this functionality. With Release 2012.1, it’s now quite simple to do so!

This great new feature streamlines the order-to-cash process for companies that require deposits during the sales order process, especially those that take custom orders in B2B environments. After creating the sales order in Release 2012.1, you can simply click the new Create Deposit button to open a new deposit transaction linked to the order.

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Once the deposit is created and saved in NetSuite; it is reserved for future use. Upon invoicing, it is then automatically applied against the outstanding balance of the invoice. This helps greatly to reduce errors with accounts receivable when deposits are not correctly applied.

For accounts receivable, NetSuite makes it easier than ever to accept, track and apply a sales order specific deposit to an invoice. Fields on the deposit are sourced in and a reference is established to the sales order.