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Item Purchase Prices and Currency in a OneWorld Account

Posted by Kevin Suh, NetSuite Administrator on Jun 15, 2023 9:00:00 AM

If your business has vendors who use multiple currencies, you will need to understand the behavior of purchase price, preferred vendor, and different subsidiaries when you are in aOneWorld Account. When you add a new preferred vendor in a different subsidiary, the old Purchase Price is converted to the currency of the new Preferred Vendor.In a non-OneWorld account, the Purchase Price field in the body of the form is in the Preferred Vendor currency. This is straight forward since each item can only have one Preferred Vendor. But in aOneWorld account, when there is a Preferred Vendor for each subsidiary, the Purchase Price is expressed in the currency of the last Preferred Vendor in the item, hence the automatic conversion of the previous purchase price. 

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Tags: NetSuite, ERP, Project Management, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, Vendor, OneWorld, Currency, Purchase Price

Interchange Items and Expenses Tab on Vendor Bills & Purchase Orders

Posted by Mariella Marquez, Consultant on May 11, 2023 11:17:17 AM

One of the most common edits requested by customers during a new NetSuite implementation is to customize the sublist display for several transaction records, namely the Items and Expenses subtabs on Vendor Bills and Purchase Orders.

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Tags: NetSuite, ERP, Project Management, Reporting, NetSuite Partner, NetSuite How To's, NetSuite Tips, Purchase Order, Transactions, Vendor, Customization, Vendor Bill, Transaction Forms

How to Set Up Vendor Prepayments

Posted by Sara Duong, Consultant on Sep 13, 2022 9:21:44 AM

What are Vendor Prepayments? When Vendor requests a deposit or payment before a Purchase Order is approved or before a Vendor Bill is issued, you can record this payment as a Vendor Prepayment in NetSuite.  

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Tags: NetSuite, NetSuite How To's, Accounting, NetSuite Tips, Financial, Transactions, Vendor, Vendor Payments, Bills, Bill Payment

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