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Support for Transactions Without Terms in NetSuite 2023.2

NetSuite 2023.2 introduces support for transactions without terms, enhancing CNAB payment processing in Brazil.

·2 min read·From NetSuite Release Notes PDF

Starting in NetSuite 2023.2, Brazil Localization has introduced a significant enhancement that allows the addition of payment information to transactions lacking installment options. This development is particularly crucial for users engaging with the CNAB (National Bank of Brazil) system, which facilitates various payment purposes, including vendor payments and employee reimbursements.

Key Features of This Update

  • Support for Payment Processing: Users can now handle payments smoothly even when transactions do not include terms or installments.
  • Vendor Payments: A straightforward process to make payments to vendors, streamlining accounts payable operations.
  • Employee Reimbursements: Simplifies managing and processing reimbursements to employees, enhancing financial workflows.

Implementing Payment Information in Transactions

To utilize this new feature, ensure that your transactions are appropriately configured to allow payment information without terms or installments. For detailed guidance, refer to the help topic on Adding Payment Information to Transactions Without Installments for Brazil. This document will provide step-by-step instructions to facilitate implementation.

Who This Affects

The following roles will benefit from this feature:

  • Administrators: Responsible for configuring payment settings and ensuring system compliance.
  • Accountants: Engaged in processing payments and managing financial transactions.
  • Finance Teams: Tasked with overseeing reimbursements and vendor payments.

Additional Considerations

  • Localization: Ensure your account settings comply with Brazilian localization requirements to fully leverage this functionality.
  • Testing Transactions: It is advisable to conduct testing using sample transactions to ensure correct payment processing before going live.

Key Takeaways

  • NetSuite 2023.2 enables transactions without terms or installments in Brazil.
  • Supports both vendor payments and employee reimbursements.
  • Administrators and finance teams should review transaction configurations to optimize workflow.
  • Detailed implementation guidance is available to aid in the process.
Source: Support for Transactions Without Terms or Installments — NetSuite Release Notes PDF. This article was generated from official Oracle documentation and enriched with additional context and best practices.