Overview
Bista Solutions is a dynamic software company providing world-class business solutions to a wide range of enterprises. Bista provides world-class consulting services at competitive prices. A number of years of expertise in analyzing the requirements of businesses and developing applications to meet their business needs. Bista Solutions have a very strong expertise in ERP for security services implementing business applications. We evaluate the leading applications whether it be ERP, CRM, BPM, BI, e-commerce and IT solutions to implement it for our clients. Bista Solutions has a number of years of expertise in analyzing the requirements offer ERP for security software and developing applications to meet their business ERP for security needs.
The Challenge:
Every business has to purchase the Inventory items for the purpose of trading or manufacturing. In most of the cases, the import vendors use a general credit term of payment called Advance payment. It is required to be mapped by making the advance payments by a write check transaction and then creating a vendor credit based on the information from the check.
This is a manual process and there are chances that the user may forget to create the vendor credit based on the advance paid transaction by using write check. This may result in the vendor being paid in excess. Also this is not linked to the original source transaction of purchase order.
Once the vendor bill is received the user has to manually apply this vendor credit to the vendor bill so that it is correctly vouched for the advance payment made. This is required to be done using the standard purchase process which will be linked to the series of transactions resulting due to the advance payment made.
The Solution:
Suite bundle, developed by Bista was essentially made to cater the need of the amount being paid to the vendor in advance, which also enables the users to efficiently track the Advances paid. With the Advance Vendor Payment system, the Advance payment made to the Vendor can be tracked and applied to the Vendor bills when needed along with the respective Checks and the Vendor Credit transactions which are automatically created.
Bista proposed a solution which will link the check and vendor credit. Not just that it intend to create a custom transaction which will manage these transactions and post the essential impacts within NetSuite. This Suite App will enable users to manage the advance vendor payments while giving them the option to set it up the way it is needed.
This solution gives the option of setting some predefined rules in setup page, like approval matrix and accounts, which while creating the transactions will benefit. There is also void functionality which will be used for voiding the transaction and revert backing the GL impacts.
Approval matrix option is used to ensure that transaction being created through this process has appropriate values, this matrix will run with the set of rules define on the setup page. The key factor of this advance vendor payment suite app is that user can see the posting GL’s of transaction created through custom record on the custom record itself.
The Impact:
This is a globally needed solutions to every customer, through this solutions customer’s purchase process will be smoother.
