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HOW ORDER TO CASH (LEAD TO PAYMENT) PROCESS WORKS IN NETSUITE

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HOW ORDER TO CASH (LEAD TO PAYMENT) PROCESS WORKS IN NETSUITE

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  1. INTRODUCTION • In NetSuite, the order to cash is a business process starting from customer interest to buy a product or services and for receiving and processing orders placed by customers. • Let’s learn about the most important aspects of the Order to Cash Cycle.

  2. WHAT IS A LEAD? • Lead is a company or person who shows interest in what your business is selling. • They show their interest by sharing the contact number, email or they might visit the company’s website. NAVIGATION TO CREATE A LEAD • Navigate to List >> Relationship >> Lead >> New. • The first step for the order to cash process is to create a lead and then convert the lead to a prospect.

  3. WHAT IS A PROSPECT? A prospect is a customer who can buy a product or service from a company but has not purchased it yet. Once the prospect buys the product or service, they become a customer. NAVIGATION TO CREATE A PROSPECT : Navigate to List >> Relationship >> prospect >> New

  4. SUB-PROCESSES OF ORDER TO CASH PROCESS 1) CONVERT LEAD TO PROSPECT : Navigate to Transactions >> Sales >> click Create Opportunities. Here opportunities page will open, fill all the necessary fields, and save them, then after that on the Opportunity page “In progress” status is displayed. Now lead is shown to us in the prospect list because lead is converted into the prospect. Using navigation to generate an opportunity: Navigate to Transactions >> Sales >> Create Opportunities.

  5. SUB-PROCESSES OF ORDER TO CASH PROCESS 2) CONVERT PROSPECT TO CUSTOMER: • Navigate to Transactions >> Sales >> Create Opportunities >> List. • Open the Opportunity > click on the edit button >go to the sales sub-tab > navigate to Sales >> Estimates >> New Quote. • On Quote Page, fill in all the necessary fields, and save it. • Convert prospects into a customer by clicking on any of the following options. Sales Order Cash Sale Invoice

  6. SUB-PROCESSES OF ORDER TO CASH PROCESS

  7. SUB-PROCESSES - ORDER TO CASH PROCESS Cash Sale : If the customer is buying a product by paying money at the time of the sale, then they can select cash sale, and the seller will just hand over the product to the customer. The payment could be in the form of cash, check, or credit card. Invoice : Invoice helps you to maintain a record of all the sales that are happening in your business. Sales Order : This is the most often used method to create prospects for customers by using the sales order button.

  8. Step 1 : After clicking on the sales order button all the necessary fields are already filled just save it. After saving, a sales order is created, wow the prospect has shown us in the customer list because “Prospect is converted into the customer”. Step 2 : You can see the Approve button on the sales order page and the status will be “Pending Approval”. After clicking on the Approve button, The sales order will be Approved.

  9. Step 3 : You can see the Fulfill button on the sales order page and the status will be “Pending Fulfillment”. After clicking on the Fulfill button, an item fulfilment page is opened then click on the Save button.

  10. Step 4 : Once you click on the save button on the pending fulfilment page, the Item fulfilment page will be opened, and on that the Mark Packed button will be visible and the status will be changed to “Picked”. Now click on the Mark Packed button.

  11. Step 5 : Once you click on the Mark Packed button on the item fulfilment page, On the same page the Mark Shipped button will be visible and the status will be changed to “Packed”. Now click on the Mark Shipped button.

  12. Step 6 : After clicking the Mark shipped button on the item fulfilment page, On the same page, the bill button will be visible, and the status will be changed to “Shipped”. Now click on the bill button. After clicking on the Bill button, the invoice is generated. Now, Save the Invoice.

  13. Step 7 : • The Invoice page is open, click on the Accept payment button. • Select the payment method, and save it (i.e., credit card, check, cash, etc.). • Now, move to the payment page, the Deposited status will display. • NetSuite makes business management much easier. • NetSuite can help businesses significantly; the company can significantly improve the Order-to-cash process and resolve issues with automated tools and real-time information. • Our experts atThe BlueFlame labshave immense experience regarding such NetSuite implementationsand will be more than happy to assist you.

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