Vendors

The information on the vendor record will be sourced into any transaction with that vendor. We can save time that would be spent editing each inpidual purchase order by setting up the defaults on the vendor record, for instance, the email address is necessary if we want NetSuite to email purchase orders to each vendor. 

The necessary options are available on the Financial tab of the vendor record. We can also set a specific Expense Account and Payables Account for this vendor if they are different from the default accounts specified under Setup | Accounting | Accounting Preferences. Set up the TERMS and CREDIT LIMIT that we have with that vendor. The CREDIT LIMIT prompts the user when it is about to be exceeded, whereas the TERMS will prompt the AP Clerk to pay the bill before it is due. If you're using the multi-currency feature, you can select the Currencies that you transact with this vendor in. We can also set up Pricing Schedules to automate pricing where we have preferential pricing with this vendor. So, for instance, if we get a 7% discount if we purchase more than 100 items from this vendor, NetSuite can automatically apply the discount based on the quantity pricing schedule selected on the vendor record:

The Financial tab of the Vendor record