how are customer prepayments applied to sales orders with billing schedules

AI generated answer (using internal Slack threads):

In NetSuite, customer prepayments can be applied to sales orders with billing schedules in a few ways. Firstly, you can use the NetSuite deposit flow. This allows you to invoice a certain percentage (like 30%) at the point of order and the remaining percentage (like 70%) at delivery. Secondly, you can use a billing schedule. A billing schedule defines the schedule to bill a sale over a range of time or a contract term. For example, you may want to bill monthly for the sale of a one-year membership, or bill quarterly for a three-year service contract. Billing schedules manage the billing process by tracking when to invoice customers and how much to bill. Thirdly, you can use a custom field (not stored) that gets its source from a saved search, calculating up all the deposit amounts applied to the SO. Then use a Scheduled Workflow to check every 30min and update the Customer Payment status or even just an Applied Deposit Amount field on the SO. Lastly, you can use the standard status of pending approval/pending fulfillment for this. Enter everything as pending approval and have the status automatically flip to pending fulfillment when the deposit matches the order amount. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******