ELECTRONIC BANK PAYMENTS – Prerequisites and Permissions

Prerequisites 

1. Electronic Bank Payments SuiteApp – NetSuite bundle that automatically updates whenever there are updates from NetSuite and is used to generate electronic bank payments to vendors and employees as well as from customers. 

2. Advanced Electronic Bank Payments license for advanced features – NetSuite SuiteApps Licensed Client bundle must be installed for this license as it controls account access of the advanced EBP feature. 

3. If EFT and DD payment file templates of other countries are to be used other than the country of the company’s operation, then Electronic Payments for OneWorld bundle needs to be installed.  

Enable features:

• Item Options: SuiteCloud -> SuiteBuilder 
• Custom records: SuiteCloud -> SuiteBuilder 
• Advanced PDF/HTML templates: SuiteCloud -> SuiteBuilder 
• Client SuiteScript: SuiteCloud -> SuiteScript 
• Server SuiteScript: SuiteCloud -> SuiteScript 
• Accounting periods: Accounting -> Basic features 

Roles and permissions 

• When EBP SuiteApp is installed, a custom EFT role is automatically created. 
• The custom EFT role enables employees to process payments 
• In OneWorld accounts, custom EFT roles must have access to subsidiaries. If we do not select a subsidiary, the role can only access the primary subsidiary. 
• The Custom EFT role is the standard role that comes with the EBP bundle. Hence it cannot be edited directly. However, it can be customized. 

Essentials 

> File Cabinet folder – EBP SuiteApp uses the NetSuite file cabinet to store payment files. Hence, before setting up company bank details, create at least 1 file cabinet folder for EBP. Separate folders may be created for each payment file type or a single folder for storing all payment files. 

Note: note the internal ID of the file cabinet folder. It will be needed for bank details setup. 

> Payment file –  

• When we use EBP SuiteApp, we generate payment files to facilitate: 
  1. Electronic Fund Transfer between bank accounts 
  2. Direct Debit 
  3. Positive Pay transactions 
• Custom file templates can only be created with an advanced EBP license 
• The standard format for each payment file type is determined by the banking industry or country   
• Navigation for standard payment file format: Payments -> Setup -> Payment file templates 
• Details displayed for standard file templates – name, payment file type, country, native format
• Click on the New Payment file format button to create a custom format

> Company bank details 

• EBP uses bank details records to capture: 
  – Details like GL bank account 
  – Company specific payment file formats for EFT, direct debit, and positive pay transactions 
  – Associated file cabinet folder ID to store payment files 
• If the business uses batch processing, batch details and schedule processing frequencies will be stored too. 
• We must enter company bank details for each account we plan to use for EBP. 
• We can also import these bank details. 

• Navigation to setup company bank details: Payments -> Setup -> Bank details -> New 
• Bank details to be filled in: 

1. Name – bank name 
2. Bank account – GL Bank account name 
3. Legal name – legal name of the company 
4. Print company name – company name to be displayed on email notifications of payment transactions 
5. Subsidiary- subsidiary associated with the GL account 
6. Currency – currency associated with the GL account 
7. Marked by default – automatically choose payment transactions in payment batches and on payment forms 
8. File name prefix- prefix for file number sequence [prefix is mandatory when EFT file format is SEPA Credit Transfer – Bank of Ireland [use PAIN001] or DTAZV [use DTAZV_] 
9. File cabinet location – location for storing payment files in the file cabinet 
10. EFT Template – payment file format to use for this bank account when processing bills, expenses, commissions, or customer refunds. 
11. DD template – template when processing payments from customers 
12. Positive Pay – generating a list of issued checks from this bank account 
13. Zengin bank fee schedule – Bank fee schedule that would apply to this company’s bank 

• After saving primary bank details, NetSuite displays additional subtabs for us to track details for the templates we selected.  
  The process bills automatically checkbox needs to be checked and an account is to be selected in Accounts Payable field to automatically process payments. Clear this checkbox to manually process payments. 
  Hide transactions – if payment batch transaction lines should not be visible when processing the batch. 
  Batch details subtab- store payment batch details such as batch detail’s name, saved search the batch is based on, schedule on which batch should run, and email of people to notify when batch runs.