please briefly describe the process of electronic payment for a vendor, who has 2 different bank details for 2 different subsidiaries - how is this addressed with Global Payments?

AI generated answer (using internal Slack threads):

In NetSuite, when dealing with a vendor who has two different bank details for two different subsidiaries, the process of electronic payment can be a bit complex. Firstly, it's important to note that NetSuite's standard functionality allows for only one primary bank account per vendor. This means that if a vendor has multiple bank accounts for different subsidiaries, you would need to create separate vendor records for each bank account. This is because the standard "Bill Payment Processing" only uses the primary bank account and secondary accounts are ignored. However, there is a feature called "Global Bill Payments" which allows you to have primary and secondary banks attached to the vendor for different subsidiaries. This feature can see either one as long as you specify the bank account entity on the bill itself. But it's important to note that Global Bill Payments does not have approvals, which might be a requirement for some businesses. If you are paying in multiple countries, you might need the paid module Advanced Electronic Bank payment. This module handles most of the standard formats out of the box - ACH, ACH/TXT, CPA-005, BACS etc. In the case of payments to a single bank, in a single country, but paying to multiple bank accounts, from multiple subsidiaries, you should be able to create batch files for payments to multiple payee from a single source bank account using the base module. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******