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This page explains how you can use the Netsuite Electronic Payment Batch

Introduction

In Netsuite, you have the option to install an additional Suite App Bundle named “Electronic Bank Payments” (id 339110). This bundle is also often named “EFT module” or “Batch payments”. The bundle allows the user to create payment batches or direct payment batches that can be imported directly into your online bank portal by hand or with the use of the Fast Four SFTP Connector.

Configuration

To enable the option to reconcile EFT batches with the Bank Reconciliation you must alter the general settings in the Bank Reconciliation Suite App and create an additional field on the “Payment File Administration”.

Enable feature

You can enable the option to reconcile EFT batches by navigating to SETUP->COMPANY->GENERAL PREFERENCES. Navigate on this page to the subsection “Custom Preferences”. In this section, you will find a section labeled “Fast Four Bank Reconciliation”. In this section, there is a checkbox labeled “Use Other Matching Types. Enable this checkbox so that EFT batches can be reconciled and save the configuration by pressing the blue button labeled “Save”.

Customize Payment File Administration

During the installation of the Bank Reconciliation Suite App, the system can’t create custom fields in different Suite App bundles. The Bank Reconciliation Suite App does need an additional field on the Payment File Administration so that it can keep track of which EFT batches are reconciled. To create this additional field navigate to CUSTOMIZATION->LIST, RECORDS, & FIELDS->RECORD TYPES. In this list locate the record type named “Payment File Administration” and click on the name to open the configuration. It can be that you need to navigate to one of the following pages on the top right corner of the table. On the page click on the grey button labeled “New Field”.

On the new Payment File Administration Field enter the following information:

  • Label: enter here the value “Bank Statement”

  • ID: enter here the value “_bs_ep_bankstatement” (including the first underscore)

  • Type: change the value to “List/Record”

  • List/Record: Select here the value “Bank Statement”

  • Store Value: Make sure this checkbox is checked

Now save the new Payment File Administration field by pressing the blue button labeled “Save”. The new field is now created and can be used by the Bank Reconciliation Suite App

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