Making the most of invoices

For many companies, creating and sending invoices is just as important as making the sale, since these companies did not get paid at the time of the sale and the invoice is their way of telling the customer how much is now owed. This is very common among companies that allow their customers to make purchases on terms (such as Net 30, 60, or 90). It’s also possible though to create what we call Stand-Alone invoices, those which are not tied to a Sales Order. We might use these to record special items that are billed outside of the normal SO processing. Stand-Alone invoices affect inventory, although they do post to the GL, as with all invoices. This is yet another example where, depending on a business’ needs, NetSuite is very flexible while still applying consistent accounting principles to the features it offers.

Alternatively, when a billing schedule is in place, we are billing for goods and services delivered over time. The invoice...