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Blog Article

Mastering NetSuite's 3-Way Match Vendor Bill Workflow

Written by: Bernadette Evardone

In the world of finance and procurement, accuracy and efficiency are paramount. NetSuite, a leading cloud-based ERP system, offers a powerful feature called the 3-Way Match Vendor Bill Approval Workflow. This workflow ensures that vendor bills are thoroughly reviewed and validated before payment is made. One key aspect of this workflow is the ability to set tolerance and difference limits on Item, Vendor, and Subsidiary records. This blog post will explore how to effectively use these limits to streamline your vendor bill approval process.

1. Understanding Tolerance and Difference Limits

NetSuite allows users to define tolerance and difference limits to determine acceptable variations in quantities and amounts during the matching process. The tolerance limit is a percentage, while the difference limit is an absolute value. These limits help identify discrepancies between purchase orders, receiving reports, and vendor bills, allowing for automated approval or flagging exceptions for manual review.

2. Setting Tolerance and Difference Limits

You must set the values in the relevant records to use tolerance and difference limits. Start by accessing the Item, Vendor, or Subsidiary forms in NetSuite. Within these forms, you will find native fields related explicitly to Vendor Bill Matching. Set the appropriate tolerance and difference levels based on your organization's requirements and policies.

3. Customizing the Vendor Bill Approval Workflow

Creating a copy of the workflow is recommended to ensure seamless integration of the tolerance and difference limits with the 3 Way Match Vendor Bill Approval Workflow. This will allow you to disable any exceptions that conflict with the tolerance and difference criteria. By customizing the workflow, you can align it with your specific business rules and processes. Once the necessary changes are made, save your workflow and run it to activate the modifications.

4. Disabling Conflicting Exception Fields

To fully leverage the tolerance and difference limits, it is crucial to disable specific exception fields that may interfere with the matching process. The following exception fields should be disabled:

- [SS] VB Qty Greater Than PO Qty

- [SS] VB Qty Less Than PO Qty

- [SS] VB Amt Greater Than PO Amt

- [SS] VB Amt Less Than PO Amt

By disabling these exceptions, the system will focus solely on evaluating the tolerance and difference criteria, ensuring accurate matching and approval of vendor bills.

Using the tolerance and difference limits in NetSuite's 3 Way Match Vendor Bill Approval Workflow can significantly enhance your organization's financial control and accuracy. Setting appropriate limits and customizing the workflow can streamline your vendor bill approval process, reduce manual intervention, and improve overall efficiency.

Remember, accurate financial data is the foundation of successful business operations. With NetSuite's powerful features and understanding of tolerance and difference limits, you can achieve greater control and transparency in your procurement processes.

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