NetSuite generated bank files and the Bank Reconciliation process-CarlZeng

NetSuite generated bank files and the Bank Reconciliation process

Electronic Bank Payments

https://docs.oracle.com/cloud/latest/netsuitecs\_gs/NSEBP/NSEBP.pdf

Creating a New Custom Payment File Template

In the Payment File Type field, select one of the following:
■ EFT – for vendor payments and customer refunds
■ DD – for customer payments
■ Positive Pay – for creating Positive Pay files

In the Bank File Template field, enter the template body using FreeMarker syntax. If the SuiteTax feature is provisioned in your account, enter the template body in the SuiteTax Bank File Template field

Template Sample:

#OUTPUT START#

Legal Name: **${cbank.custrecord_2663_legal_name}

Immediate Origin: **${cbank.custpage_eft_custrecord_2663_bank_comp_id}

Reference Note: **${pfa.custrecord_2663_ref_note}

#OUTPUT END#

Including Fields from NetSuite Search Results in Advanced Templates

NetSuite search result columns can be accessed in payment files using the <single_result_keyword>.<column_id> notation.

#OUTPUT START# <#list payments as payment>

<#assign entity = entities[payment_index] >

<#assign ebank = ebanks[payment_index] >

*** Amount: ${payment.amount}

Address: ${entity.billaddress1}

Bank Num: ${ebank. custrecord_2663_entity_bank_no} ***

</#list> #OUTPUT END#

Note that the variable names for single payment, single entity, and single entity bank use the single result keyword.

FreeMarker Template Library for Electronic Bank Payments

…

---

1. NetSuite Electronic Bank Payments Bundle | Sikich LLP

https://www.youtube.com/watch?v=JOE4EXxkTFk

---

2. Import online banking data and statement functions in NetSuite

https://rsmus.com/what-we-do/services/technology/resources/netsuite-resource-center/netsuite-tips-tricks/import-online-banking-data-and-statement-functions-in-netsuite.html

---

3. How to Generate Standard NACHA File for Vendor Payments

http://blog.concentrus.com/how-to-generate-standard-nache-file-for-vendor-payments

1. Install Electronic Bank Payments bundle (Bundle ID 308852)

2. Set up Bank Details

   1. https://netsuite.custhelp.com/app/answers/detail/a_id/21798/kw/bank%20detail
   2. Notes:Set up approval workflow : https://netsuite.custhelp.com/app/answers/detail/a_id/34998

3. Set up Vendor records for Electronic Payment

   1. https://netsuite.custhelp.com/app/answers/detail/a_id/21801/kw/Vendor%20bank%20payment%20detail

      Notes:Make sure set up the Default AP Account on the Vendor record:
      Go to Employee -  Financial – Account Information – Default Payables Account

   2. You can also use CSV Import to create new Bank Detail records:   https://netsuite.custhelp.com/app/answers/detail/a_id/27012/kw/csv%20bank%20detail
       Tips:The Record Type is called “Bank Detail” (“Entity Bank Detail” is incorrectly called out in the instructions)

4. Generate NACHA file for Vendor Payments

   1. 1. https://netsuite.custhelp.com/app/answers/detail/a_id/21773
      2. Notes:
         1. Bills will be marked paid once electronic payments are approved and processed
         2. Date to be Processed choose the next day if you are loading the file today
         3. Make sure Vendor’s default Payables account is the same as the EFT Bank Details set up. See step #3 above.
         4. Make sure Bill is approved if you don’t see it on the list
         5. Uncheck Aggregate by Payee to create separate payment transactions

5. Approval Workflow

   1. Approver will be emailed notification that approval is needed OR
   2. Where to check for approvals: Payments – Payment Processing – Bill Payment Batches
6. 1. Find your batch
   2. Click Edit
   3. Save and Approve or Reject

7. Retrieve File for upload to bank

   1. Where to check for processed file: Payments – Payment Processing – Payment File Administration

8. Download processed file

9. Other actions

   1. Rollback – deletes transaction; only available 24 hours of batch creation
   2. Reverse Payments – Voids and uses Journals to reverse the transactions
   3. Email Notification – sends email notification to the vendors that payment was sent

10. Upload file to your bank

---