This article is relevant if you want to track how customer transactions impact accounts receivable and customer deposits.
Background
In 2021, I wrote an article, Get a NetSuite Accounts Receivable with Customer Deposit Aging, discussing why NetSuite’s built-in Accounts Receivable Aging reports don’t reference customer deposit liability accounts. Given how NetSuite handles transactions and general ledger references, I can understand it technically, but it is not business-user-friendly. In practice, understanding a customer’s complete financial position which includes both the accounts receivable and customer deposit liability position is essential.
While that article focused on downloading a combined customer deposit and accounts receivable aging report, this one takes a different approach. Instead of analyzing aging balances at a point in time, this article provides a way to track transactions from inception to the present, watching balances grow and shrink until they reconcile with the aging report and general ledger.
Quick View of Customer Transactions Affecting Accounts Receivable, Customer Deposits, and Banking
Instead of an aging report, this model provides a complete transaction history. It is ordered by date to show how each transaction impacts accounts receivable and customer deposit balances. The goal is to track when a customer provides cash and how it affects the running balance over time.
To clarify how this works, I’ve included screenshots demonstrating the functionality. While you can run it independently like any saved search and filter for your customer, it is automatically connected to the customer record as a sublist insight and respects the customer hierarchy. When both accounts receivable and customer deposit balances reach zero, the row is highlighted. This is a critical moment in customer account analysis because it marks the last time the account was fully settled — a detail that standard accounts receivable reports don’t readily reveal. These style of reports and listings can be quite helpful in speaking with a customer about what has happened to the account over time.
Click the images for a closer look at the transaction listing.
Get the Accounts Receivable / Customer Deposit Insight Saved Search
This saved search is available to all NetSuite end customers who simply make a request. Supply us your account number and we will provision it to your account. The saved search is included in our Financial Saved Search Library bundle, which contains other valuable financial searches designed to address common NetSuite challenges.
The search assumes your account has OneWorld multi-subsidiary and multi-currency enabled. If your setup differs, a minor adjustment may be needed to remove references to elements that don’t apply.
Like all our solutions, this saved search is provided at no license cost, just like our other algorithms and applications designed to accelerate NetSuite solutions. See our public list here.
We stand apart by using these bundles as accelerators, not just as software, but as a testament to our deep NetSuite expertise and leadership. Our clients tell us it’s “a breath of fresh air” to work with professionals who genuinely understand business challenges, innovate within NetSuite, and deliver on the locked-up NetSuite platform value.
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Marty Zigman
Holding all three official certifications, Marty is regarded as the top NetSuite expert and leads a team of senior professionals at Prolecto Resources, Inc. He is a former Deloitte & Touche CPA and has held CTO roles. For over 30 years, Marty has produced leadership in ERP, CRM and eCommerce business systems. Contact Marty to set up a conversation.
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We do business with several large retailers that are constantly reducing payments with chargebacks. We dispute mostly all and then later receive the money. On the initial payment a credit memo is. Related and applied with the payment. Subsequently when we receive cash from the successful dispute, how best do you transact in order to attach to initial invoice. Currently we create a misc invoice to apply payment to but is disconnected with the original invoice. Any thoughts would be appreciated
Hello Jack,
I will be writing a future article on this. In these kinds of environments, we must anticipate all the retailer chargebacks in advance and build a framework for challenging their chargebacks. Indeed, it demands a high degree of confidence in our delivery and invoicing with then a model of connecting to the deals that were offered to the retailers primarily expressed in their purchase orders. Be sure to subscribe so you are notified when I write the article.
Marty