When we are confident that the payment files are correct, transmit the files to the bank for processing. Once that is completed, we can then send an email notification to payees about the status of the electronic bank payment.
After creating payment files and uploading them to the bank’s electronic payment portal, use the payment notification feature to alert vendors, employees, customers, and other payees about the result. If the bank successfully processed the payment file, send an email notification to payees to inform them that funds were transferred to their bank accounts and to customers to acknowledge that the customers’ payments were transferred to the company bank account.
If the bank encountered any errors while processing the payment file we generated in NetSuite, send an email notification to the payee or a customer to inform them about the error. We can also verify with them if their bank details and payment information are correct and discuss alternative options like transferring the electronic payment to the payee’s secondary bank account.
NetSuite provides two standard email templates for sending payment notifications. The standard vendor payment template is used for payment notifications to vendors, and the standard customer payment is used for payment notifications to customers. Administrators can configure payment notification templates in Payments -> Setup -> Electronic Payments Preferences.
To send a payment notification, navigate to Payments, Payment Processing, and select Payment File Administration. Click View next to the payment file administration record.
On the Payment File Administration page, click the Email Payment Notification. The payment notification form opens Enter a subject. Select the standard template to be used in the email notification. If advanced PDF and HTML templates are enabled in your account, we can create and select a custom template for this email notification and enter email notes if necessary.
On the Select Transaction sublist, select the transactions to include in the payment notification. For payment notifications, NetSuite uses the email address payment notifications on the payee’s record. If the email address for the payment notification field is blank, NetSuite uses the default email address. If necessary, enter other email addresses to include in the CC or BCC fields.
Enter custom email notes for each transaction. In this field, we can specify if the bank processed the file successfully or if there were any errors. This will be displayed as an email message, while the payment record will be attached as a PDF. Click Submit.
We will redirect to the payment file administration record for this payment batch. On the payment file administration record, the file processed field is displayed as Queued. Click Refresh to update the file process field. Once it displays Processed, this means that the payment notification has been sent to the vendor’s email address.