what is the difference between EFT File Format & Vendor Entity Bank Format which shows on the vendor record system notes ?

AI generated answer (using internal Slack threads):

The EFT File Format and Vendor Entity Bank Format are two different things in NetSuite. The EFT (Electronic Funds Transfer) File Format is a template that defines the structure of the payment file that will be sent to the bank. This file format can be customized according to the bank's requirements. For example, some banks may require the file to be in a specific format like XML v3, ABA (AU), or TXT (US). If the standard file formats provided by NetSuite do not meet the bank's requirements, you can create a custom template based on the technical documentation provided by the bank. On the other hand, the Vendor Entity Bank Format is a setting on the vendor record in NetSuite. This setting determines which EFT file format will be used when making payments to that particular vendor. If you have created a custom EFT file format, you need to update this setting on the vendor record to use the custom format. So, the difference between the two is that the EFT File Format is the actual template for the payment file, while the Vendor Entity Bank Format is a setting on the vendor record that determines which EFT file format to use. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******