Set up the bank account records that your company or subsidiaries will be used to send and receive electronic bank payments.
Go to Payments > Setup > Bank Details > New.
Complete the fields on the New Company Bank Details page.
Field
Description
Name
Enter a name for the bank record.
GL Bank Account
Select the GL account where the processed electronic bank payment transactions will be posted.
Note The Subsidiary and Currency fields are automatically populated when a GL Bank Account is selected. Subsidiaries are only available in NetSuite OneWorld. If a GL bank account is not available in the dropdown list, go to Setup > Accounting > Manage G/L > Chart of Accounts > New to create one. For more information, see Creating Accounts.
Legal Name
Enter your company’s legal name. This will be used in the electronic bank payment files.
Print Company Name
Enter the company name that should appear on email notifications of payment transactions sent to vendors, employees, and customers.
Marked by Default
Check this box if you want the payment transactions for this bank account automatically checked when they are displayed in the Bill Payment Batches list and the Bill Payments form.
EFT Template
Select the ETF payment template of your choice. For more information, see United Kingdom Payment Formats.
DD Template
Select the DD payment template of your choice. For more information, see United Kingdom Payment Formats.
File Cabinet Location ID
Enter the internal ID of the folder that you created for storing payment format files. For more information, see Creating Folders in the NetSuite File Cabinet.
File Name Prefix
(Optional) Enter a prefix for the file number sequence. The prefix is attached to the beginning of each file number whenever this bank is used in creating a payment file.
Click Save.
Complete the additional bank detail fields.
Field
Description
Department
Select the department for payments made under this bank account.
Class
Select the class for payments made under this bank account.
Location
Select the location for payments made under this bank account.
Note For each category, you can set up to 50,000 classes, departments, or locations.
Setting up more than 50,000 for each category may slow down the loading of the dropdown list of categories.
Complete the fields on the EFT Template Details subtab. The fields displayed are dependent on the EFT format selected.
Field
Description
HSBC/SAGE
Enter HSBC or SAGE if there is no Service User Number (SUN) assigned by the bank.
Service User Number
Enter your company’s 6-digit Service User Number (SUN). This number is assigned by the bank.
Sort Code
Enter the 6-digit numeric sort code of your bank branch. This code is used by the British banking industry to route money transfers within the country using different clearance organizations.
Account Number
Enter your company’s 8-digit bank account number.
Include the Total Debit Amount
Check this box to include the total debit amount in the UTL1 record of the payment file. Otherwise, a default value of zero is assigned.
Process Bills Automatically
Check this box if you want to process payment transactions for this bank account in batches. For more information, see Processing Bills and Expenses in Batches. Leave this box clear if you want to process payment transactions for this bank manually. For more information see, Manually Processing Bills and Expenses.
Accounts Payable
Select the accounts payable register where the payments will be posted.
Hide Transactions
Check this box if you want to hide the transaction lines on the Bill Payment Batches form when processing payments in batches. For more information, see Processing Bills and Expenses.
Note This feature is available if Process Bills Automatically is enabled or Marked by Default is enabled.
Complete the fields on the DD Template Details subtab.
Field
Description
HSBC/SAGE
Enter HSBC or SAGE if there is no Service User Number (SUN) assigned by the bank.
Service User Number
Enter your company’s 6-digit Service User Number (SUN). This number is assigned by the bank.
Sort Code
Enter the 6-digit numeric sort code of your bank branch. This code is used by the British banking industry to route money transfers within the country using different clearance organizations.
Account Number
Enter your company’s 8-digit bank account number.
If you want to create multiple payment batches for this bank account, complete the fields on the Batch Details subtab.
Field
Description
Batch Details Name
Enter a name for the payment batch.
Saved Search
Select the search criteria to group the bills and expenses that will be included in the payment batch.
Payment Schedule
Select a payment schedule for when the payment batches should be automatically created and submitted for processing. To set up payment schedules, see Setting Schedules for Payment Batches. You can leave this field blank and choose to manually trigger the system to create payment batches by clicking Refresh Batch.
Inactive
Check this box if you want to make a payment batch inactive. When you mark a record as inactive, it is not displayed in lists and dropdown fields. However, the record remains in the system for future reference.
Note If you check the Inactive box for the main batch, bills that do not meet the search criteria will not be included in the payment batch.
Email Recipient
Select the employee to whom notification should be sent whenever payment batches are created per schedule.
Click Add to save the payment batch. You can create more payment batches for the bank account.
Click Save to save the company bank details.