Hierarchy for Payment Accounts

The following is the hierarchy that NetSuite uses for its default payment account:

1. When there is no Payment Method on a Payment/Cash Sale/Customer Deposit, the Bank Account that will be used is the Default Payment Account set on Setup > Accounting > Accounting Preferences > Items/Transactions tab.
2. When there is a Payment Method on a Payment/Cash Sale/Customer Deposit record, the Bank Account set for the Payment Method under Setup > Accounting > Accounting Lists > Payment Method > Account tab will override Default Payment Account.
3. If the Payment Method is set to Group with Undeposited Funds, then the Account will be Undeposited Funds.
4. If the Payment Method is set to Deposit To Account, the Payment/Cash Sale/Customer Deposit record will be deposited to that Account.
5. If the Payment Method is set to Deposit To Account = blank/null, the Payment/Cash Sale/Customer Deposit record will default based on the Account set on the Credit Card Processor Profile’s Settlement Bank Account (Setup > Accounting > Payment Processing Profiles > click on the Gateway Profile Name > Settlement Bank Account).

Reference – Related SuiteAnswer ID – 37760