Checks are generated in netSuite through standard AP processes upon saving a check transaction the expense, other current assets, or inventory account specified in the transaction detail is debited and the select bank account is credited. The checks are usually issued in the following cases for example:-
- Reimburse employees
- Pay vendors if you do not use Accounts payable.
- Record cash transactions
- Enter other non-check debits
If you do use NetSuite’s account payable feature, the best practice is to pay vendors using NetSuite’s bill. Payment feature.
In order to issue a check if you are, from the role “Financial MM Controller”. Financial tab –> Banking –> Write checks –> new
Void a check
Voiding a check can be done for a number of reasons, most commonly if the check is filled out incorrectly or the purchase of goods or services has been canceled and payment needs to be stopped. Checks that have been issued, but have not yet been processed by the bank may be voided. Voiding the check reverses its GL impact through a voiding journal entry. Voiding the checks is retained in the system to maintain a proper audit trail. Voiding a check indicates that the check can no longer be accepted by the bank or reused in any transaction. Your financial institution must be informed to stop processing a voided check. Check your company policies and policies on how to do this.
For voiding a check click on the void button, it will be redirected to a Voiding journal, and enter the details in the record and save the record. Check the status of the check, it will be changed to voided. After voiding a check, reconcile the voiding journal entry.
Print a check
In order to print a check, navigate to print checks and forms –> Enter checks –> Select the check and print the same.