Using NetSuite's Required Deposit Workflow to Secure Payments
Do You Require Deposits Before Fulfilling Orders? NetSuite Has a Feature for That!
For businesses that require upfront deposits before fulfilling orders, managing payments efficiently is critical for maintaining healthy cash flow and reducing financial risk. NetSuite’s Required Deposit Workflow offers an integrated solution that automates deposit tracking and ensures that customers meet payment requirements before orders move forward.
Despite its value, this feature remains underutilized due to limited documentation, often buried within SuiteAnswers. In this guide, we’ll walk you through how to enable, configure, and optimize the Required Deposit Workflow to streamline payment collection and improve financial visibility.
Enabling the Required Deposit Workflow in NetSuite
Like most NetSuite features, the Required Deposit Workflow must be enabled before use. It is available only on forms based on the Standard Sales Order – Invoice form. Once activated, businesses can define deposit requirements at either the transaction level or the line-item level, depending on their specific needs.
Configuring Required Deposits in NetSuite
NetSuite allows businesses to define required deposits in three ways:
Line-Item Level Deposits
Assign deposit amounts to specific line items using the Required Deposit Amount column on the Items subtab.
Sales Order Level Deposits (Fixed Amount)
Set a flat deposit amount for the entire order under the Required Deposit Amount field.
Sales Order Level Deposits (Percentage-Based)
Define a deposit as a percentage of the total order value using the Required Deposit Percentage field.
Whenever order details are updated, NetSuite automatically recalculates deposit amounts, ensuring accurate payment tracking.
Tracking and Managing Required Deposits in NetSuite
Once a deposit is applied to a sales order, NetSuite provides real-time tracking and visibility, reducing manual oversight.
Key Tracking Features
Transaction Summary Box – Displays the total required deposit amount.
Required Deposit Due Amount – Tracks outstanding balances after payments are applied.
Transaction Banner Alerts – Highlights deposit status directly on the transaction page.
Saved Searches for Unpaid Deposits – Create reports to monitor overdue deposits and follow up with customers efficiently.
Why Use NetSuite’s Required Deposit Workflow?
Improved Cash Flow Management – Secure upfront payments and reduce financial uncertainty.
Streamlined Order Processing – Ensure deposit requirements are met before fulfillment.
Automated Tracking & Accuracy – Reduce manual calculations with automatic deposit recalculations.
Enhanced Reporting & Visibility – Utilize NetSuite Saved Searches for real-time insights into deposit status.
Take Control of Your Payment Processes
If your business requires deposits before fulfilling orders, NetSuite’s Required Deposit Workflow is a game-changer for optimizing cash flow and automating financial tracking. By implementing this feature, you can reduce manual effort, enhance financial visibility, and prevent order delays due to unpaid deposits.
Are you leveraging this feature in NetSuite? If not, now’s the time! Contact us today to simplify your deposit management and streamline order fulfillment.