What is the easiest way to set up ACH vendor payme...
# ask-stanley-ai
r
What is the easiest way to set up ACH vendor payments?
c
AI generated answer (using internal Slack threads):
****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ****** Setting up ACH vendor payments in NetSuite involves several steps: 1. Enable Features: First, you need to enable the Electronic Bank Payments feature in NetSuite. You can do this by navigating to Setup > Company > Enable Features > Accounting and checking the box for Electronic Bank Payments. 2. Bank Details: Next, you need to set up your bank details. Go to Lists > Accounting > Bank Accounts and fill in the necessary information. Make sure to select the 'Use for Electronic Payments' checkbox. 3. Payment Method: You also need to set up the ACH/EFT payment method. Go to Lists > Accounting > Payment Methods and create a new payment method for ACH/EFT. 4. Vendor Records: Update your vendor records to include bank details. Go to Lists > Relationships > Vendors and select the vendor you want to update. In the Financial subtab, fill in the Bank Payment Details section. 5. Payment File Layouts: Set up the payment file layouts according to your bank's specifications. You can do this by going to Transactions > Management > Enter Electronic Payments > Payment File Layouts. 6. Testing: It's recommended to test the setup with your bank. You can create a sample file and send it to your bank to confirm that it matches their specifications. Remember, you can also set up ACH/EFT as a payment method on sales orders under the Billing Subtab for Payment Methods. For more detailed instructions, you can refer to the NetSuite Help Center or the SuiteAnswers portal.
Slack thread 1: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.865498483
Slack thread 2: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.835353315
Slack thread 3: here (available only if the original thread was posted in the last 90 days)
Similarity score: 0.826841593
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m
Hey @Ron 👋 check out FISPAN! We integrate with NetSuite and partner with many popular banks to enable streamlined ACH payments. Let me know if you have any questions!