NetSuite - Purchase Order Workflow (External) - Process Flashcards
What is the first step in the Purchase Order process in NetSuite?
Operations creates Purchase Order in NetSuite
This initiates the NetSuite PO Approval Workflow.
What determines the approval routing for Purchase Orders in NetSuite?
The department selected on the Purchase Order
Different departments may have different approval processes.
Where do the approver settings reside in NetSuite?
Within the NetSuite Department record
This includes fields for Senior Manager, Threshold, and Director.
Who is the first level Operations Approver for a department?
Senior Manager field
This is set in the department record.
What does the Threshold field indicate?
Dollar amount that triggers second level Operations Approval
This ensures higher amounts require additional approval.
Who is the second level Operations Approver for a department?
Director field
This is also set within the department record.
Who is the final approver of Purchase Orders?
Finance (CFO)
The CFO reviews and approves before the order proceeds.
What status does a Purchase Order enter after final approval?
Pending Receipt status
This indicates that the order is ready to be received.
What does Finance do with Purchase Orders for Capital items?
Enters PO information into the appropriate line in Capital Plan
Only capital items are included in the Capital Plan.
Do all Purchase Orders go on the Capital Plan?
No, only capital POs are included
Non-capital POs will not go on the Capital Plan.
On what Net terms should Operations place orders with vendors?
Net 30 terms
This means payment is due 30 days after the invoice date.
Where do vendors send invoices?
ap@[IMH email].com
This is the designated email for accounts payable.
What action does Operations take after receiving items? (2)
- Confirms receipt of items
- and Receives Items in NetSuite
This updates the system with received goods.
What does Finance do after receiving the Vendor Invoice?
Generates NetSuite Bill from Purchase Order
This creates a record for payment processing.
What does Finance enter into the Capital Plan after generating the NetSuite Bill?
Invoice information
This ensures financial tracking of capital items.
What must Finance confirm before paying the Vendor Invoice?
Item Receipt in NetSuite
This ensures that all ordered items were received.
Who can authorize payments for items that have not yet been received? (4)
Chief Financial Officer, Chief Administrative Officer, President, or Vice-President
These roles have the authority to approve payments under specific circumstances.
Who approves the release of cash payment for the Vendor Invoice?
Chief Financial Officer
The CFO has the final say on cash disbursements.
What does Finance do after the CFO approves the payment?
Pays Vendor Invoice
This completes the transaction process.
What information does Finance enter into the Capital Plan after payment?
Payment information
This ensures accurate financial records are maintained.
