Automatic Write Off

Traditionally performing a write off in NetSuite is a manual process. GURUS Solutions has implemented a solution to perform write offs automatically when an invoice is below a certain threshold. The system finds the open transactions with a remaining balance under the threshold specified by the company.The accounting department then decides whether the transaction should be written off or not; a daily process then picks them up and perform the necessary journal entries.

Challenges

The automatic write off report needs to perform many functions in order to accurately and correctly write off invoices below the specified threshold.

  • Identify the open invoices with a remaining balance below the threshold;
  • Identify the open customer deposit with a remaining balance below the threshold;
  • Then display these transactions to the user (accounting dept) who will then mark them to be written off;
  • A daily process runs every night and picks the marked transactions and performs the journal entry to write them off.

 

Solution(s)

The automated solution allows for easier removal of bad debts and over payments from aging report documents, and provides better visibility on upcoming incomes and liabilities.

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