Payment Status Tracking Feature in SuiteAnalytics for NetSuite
Introducing Payment Status Tracking in SuiteAnalytics for NetSuite 2024.2, bringing enhanced automation and visualization.
TL;DR Opening
Starting in NetSuite 2024.2, the Bill Payment record features a new visual status tracker, allowing users to easily monitor payment statuses. This update automates the recording of transaction fees, saving time and enhancing workflow efficiency.
What's New
In the latest release, NetSuite has introduced exciting enhancements to the Bill Payment record. The most notable is the Payment Status Tracking, which provides a visual tracker for payment statuses. This offers a clear and immediate view of the payment process, making it easier to manage your accounting tasks.
Additionally, the recording of transaction fees has been automated. Previously, users were required to manually record auto-funding requests for monthly invoice fees associated with HSBC. The new automation will streamline this process, significantly reducing the time spent on recurring tasks, which can now be allocated to more strategic activities.
Key Features
- Visual Status Tracker: Easily monitor the status of payments directly within the Bill Payment record.
- Automated Fee Recording: Automatic capturing of transaction fees related to auto-funding requests enhances accuracy and saves time.
Who This Affects
This update impacts a variety of roles within your organization, including:
- Accountants: Gain better visibility and tracking of payment statuses.
- Administrators: Benefit from simplified processes due to automation.
- Finance Teams: Spend less time on manual entries and focus on higher-value tasks.
Key Takeaways
- The new visual status tracker enhances payment visibility in NetSuite 2024.2.
- Automation of transaction fee recording simplifies accounting tasks.
- Users can expect improved efficiency and time savings in financial operations.
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