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Order To Cash Process

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alyssa banta
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34 views4 pages

Order To Cash Process

AIS reviewer

Uploaded by

alyssa banta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ORDER TO CASH PROCESS

THE HOME PAGE DASHBOARD IS A VIEW INTO YOUR BUSINESS AND A TOOL TO HELP DRIVE THE
BUSINESS AS:

• The landing page into your NetSuite account


• A visual workspace that can be personalized
• A repository of real-time data in configurable portlets
• Access to the data beneath the business trends
• A tool to manage your daily activities
• A means of staying in tune with NetSuite

WALKTHROUGH DEMONSTRATION

• Review the Home Dashboard using the AR Analyst Role

MANAGE CUSTOMERS

Customer records allow you to track all the following types of information on your customers in one
place, depending on the features you have enabled:
• Contacts
• Events, tasks, and calls
• Messages
• Transaction history
• Items purchased
• File cabinet documents
• Last Sales Activity

LEADING PRACTICE

• All communications should be sent/created via the customer record where possible (e.g. email
messages, activities including phone calls and tasks) in order to maintain a centralized location for
customer communication tracking.

WALKTHROUGH DEMONSTRATION

• Create a new customer


• Create a task from a customer record
• Create a contact from a customer record

PRACTICE

• Refer to your Order to Cash QRG, topic “Manage Customers”.


• Login to the system
• Create a New Customer

ORDER MANAGEMENT AND FULFILLMENT

• Sales Orders are created, approved and then fulfilled.


• The Sales Rep is responsible for creating and submitting a new sales order in NetSuite and ensuring
that the order contains as much information as known at the time. This helps streamline the process
and limit the need for corrections later.

SALES ORDERS ARE CREATED, APPROVED AND THEN FULFILLED.

• If a sales order has the status of Pending Approval, the order must be approved by the Sales
Manager or other authorized approver before it can be processed.
• The fulfillment step is required for any sales order that contains items set to “To Be Fulfilled” on the
item record.

LEADING PRACTICES
• Sales order record reflects what has been agreed upon based on the contract. Actual contract can
also be attached to the order.
• Order fulfillment is only required for customers who sell physical inventory or for software/services
customers that require a provisioning step prior to invoicing for reporting purposes.

WALKTHROUGH DEMONSTRATION

• Create a sales order


• Approve a sales order
• Fulfill the order

PRACTICE

• Refer to your Order to Cash QRG, topics “Order Management”, “Approve Sales Order” and
“Fulfillment”.
• Create a Sales Order
• Approve Sales Order
• Fulfill Order

INVOICE CUSTOMER

• Process Diagram | With Billing Schedules


• Process Diagram | Without Billing Schedules

INVOICE CUSTOMER

• Upon shipment (if fulfillment is required) or upon save (if fulfillment is not required), the Sales
Order status will change to Pending Billing. Sales and A/R are notified through a reminder on the
dashboard that the order can be billed.
• The Sales Order can be billed using one of the following methods:
» Invoice/Bill Orders
» Create from a Sales Order
» Create from an Item Fulfilment

INVOICE CUSTOMER-WITH BILLING SCHEDULES


• Upon shipment (if fulfillment is required) or upon save (if fulfillment is not required), the Sales
Order status will change to Pending Billing. Sales and A/R are notified through a reminder on the
dashboard that the order can be billed. Billing schedules manage the billing process by tracking when
to invoice customers and how much to bill.:
» Invoice/Bill Orders
» Create from a Sales Order
» Create from an Item Fulfilment
• Periodic Invoice Run - can generate invoices in the following ways:
» Billing Operations - Use the “Bill Sales Order” functionality to bill multiple orders in bulk
» Create from Sales Orders - The A/R Analyst can also navigate individual Sales Order to verify
correctness and generate the invoice
• On a sales order, you can click the Schedule subtab to view the
billing schedule for the order.

INVOICE CUSTOMER DELIVERY

• The following invoice delivery methods are possible:


» Email
» Fax
» Print
» E-Document

INVOICE CUSTOMER

• Remind your customers of open invoices by utilizing automated email reminders.


• The A/R Analyst should utilize dashboard alerts for notification of overdue invoices.
• Use Bill Sales Order if majority of your orders are following billing schedule. Billing team can also
navigate to each sales order and click Next Bill to produce the invoice.

WALKTHROUGH DEMONSTRATION

• Bill sales order and create invoice


• Email the invoice
• Create a standalone invoice

PRACTICE

• Refer to your Order to Cash QRG, topic “Invoice Customer”.


• Bill a Sales Order
• Bill from a Sales Order
• Create a Standalone Invoice

ACCEPT PAYMENT

PAYMENT CREATION

• After the Sales Order has been invoiced, A/R will monitor the aging of the invoice.
• Once a payment is received, the payment is applied to the appropriate invoice.

CUSTOMER DEPOSIT

• Customer prepayment will be recorded against the customer account as deposit in NetSuite.
• Customer deposits are recorded in your general ledger as a liability until
goods and services are delivered.
• Customer deposits do not affect customer’s accounts receivable balance.

CUSTOMER PAYMENT

• If payments from the customer are not deposited to the bank when they are received, then record
the transaction under Undeposited Funds.
• Undeposited Funds should be used if bank fees are to be deducted from a group of customer
payments.
o When payments are deposited to the bank through the “Make Deposit” functionality, bank charges
can be expensed.

WALKTHROUGH DEMONSTRATION

• Accept customer payment


• Record a customer deposit

PRACTICE

• Apply Payment
• Customer Deposit
KEY REPORTS

• A set of reports are available to assist you with monitoring your


processes.
• Order to Cash Reports include:
» Sales Order by Customer
» Sales Order by Item
» Sales Order by Sales Rep
• Refer to the Quick Reference Guide for a full list of reports.

SAVED SEARCHES

• Saved searches display the result sets of saved queries of the NetSuite data.
• The following saved searches have been preconfigured to give you additional visibility:
» Accounts Receivable Cash Outlay
» Average Days Sales Outstanding
» Average Days to Receive

• Refer to the Quick Reference Guide for more Saved Searches


that we recommend as part of NetSuite’s leading practices.

REPORTS AND SAVED SEARCHES

• Add your favorite reports and saved searches to your Shortcuts menu for easy access.
• Prefix these shortcuts with ‘Report’.
» This will help you identify the context of the shortcut.
• Check “Open in New Window”

KEY PERFORMANCE INDICATORS

• Key Performance Indicators (KPI’s) provides you with a quick insight into your critical business
metrics.
• You can display them on your dashboard via these portlets:
» Key Performance Indicator
» KPI Scorecard
» KPI Meter
» Trend Graph
• Refer to the Quick Reference Guide for a full list of KPI’s.

KEY PERFORMANCE INDICATOR PORTLET

• The following KPI portlet(s) have been created in your account:

KPI SCORECARDS

• The following Scorecard(s) have been created in your account:

WALKTHROUGH DEMONSTRATION

• View standard and custom reports.


• View saved searches.
• Add a saved search to our Shortcuts menu.
• View KPIs and KPI Scorecards on the Home dashboard

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