Learn which NetSuite accounting preference allows users to select a non-bank Account, such as Accounts Receivable, when recording customer payments. Expand account list options for efficient payment processing.

Question

While accepting a customer payment, a user must be able to add the payment to an account other than a bank account. Which preference allows a user to select another account type from the list?

A. Add a default Payment Account in Accounting Preferences
B. Mark Expand Account Lists in Accounting Preferences
C. Add a default Payment Account under General Preferences
D. Mark Expand Account Lists under General Preferences

Answer

B. Mark Expand Account Lists in Accounting Preferences

Explanation

To allow a user to select an account other than a bank account when recording a customer payment in NetSuite, the “Expand Account Lists” option needs to be enabled under Accounting Preferences.

With this preference turned on, the Account field on the customer payment page will display a searchable drop-down list of all accounts, not just bank accounts. The user can then choose the appropriate GL account, such as Accounts Receivable or Unapplied Cash Payment Income, to which the payment should be credited.

The other options are incorrect because:

• A and C refer to setting a default Payment account, which would not provide the flexibility to choose a different account on a per-payment basis.
• D suggests the Expand Account Lists option is under General Preferences, but it is actually found in the Accounting Preferences section.

In summary, marking the Expand Account Lists option in NetSuite Accounting Preferences is the correct setting to enable users to flexibly select non-bank accounts when accepting and recording customer payments. This streamlines payment application to the proper GL accounts.

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