Linking expenses to vendors, customers and employees in NetSuite

kglancykglancy Posts: 2Expensify Customer Expensify Newcomer

We've recently been testing Expensify as an alternative solution to managing our company expense cards. We're really happy with the results so far except that the resulting journal entry connects the expense to the employee only. We need to be able to also connect this expense to the vendor and sometimes a customer. I presume this is a pretty common need and hope someone out there has found a solution for this problem. Help!

Answers

  • tylerzolltylerzoll Posts: 434Approved! Accountant Expensify Champion

    @kglancy there have been a few posts on this topic. You can create a custom script to do this that works most of the time. I would be happy to share what I have and you can customize to meet your needs if you are a suitescript pro. The script that I used is more for converting expenses to items, but it can be used for the same thing.

    I’ve never seen a good answer as to why folks need to do this though. I realize that QuickBooks does it, but what information does this reporting really provide?

  • iaingoldmanniaingoldmann Posts: 4Expensify Customer Expensify Newcomer

    This is something we've done before. It is fairly straightforward, because the Netsuite 'Name' field on the journal line includes both Customers and Vendors.

    Challenge, as always, is the matching. The vendor on the card payment may not match exactly with the vendor name in NS. Also, potentially small payments don't need separate vendors. In theory, can get around this by autocreating vendors, this is a two edge sword, particularly if you have process to control who can be authorised as a vendor.

    I've seen various finance systems create vendors 'on the fly' and provide 'easy' reconciliation. But what they are really doing is simply taking and accepting cash outflows and creating whatever is needed in the finance system to let them through.

    Where we've bought in from Expensify before, we've bought in under a default, other than where the vendor matches.

    hope above helps

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