Introduction

To ensure secure payments, any bank account you intend to transfer funds to must be registered in TransferMate as a Beneficiary Bank Account. TransferMate performs a validity check on the account and can block any suspicious activity.

For vendors whose bills you will pay through Zone AP Payments, you must create a corresponding Beneficiary Bank Account record.

Best Practice: Always create new records from scratch. Avoid using NetSuite's Make Copy function, as it may copy information that is not applicable to the new record and can lead to processing errors.

Create AP Payment Beneficiary Bank Account 

Navigate to AP Payment > Setup > AP Payment Beneficiary Bank Account > New to create Vendor bank details.

Populate all mandatory fields.

Please note that after selecting the vendor, the Vendor Information section will be autopopulated based on the default billing address stored in NetSuite.

In case the vendor has multiple bank accounts/ IBANs, you need to create multiple Beneficiary Bank Account records.

IBAN

In case the Beneficiary Bank Account is created with IBAN, then populate the following fields:

• Account Number Type: Select IBAN
• Account Number/ IBAN: Populate an actual IBAN
• SWIFT: Populate SWFIT (BIC) code

Bank Account Number

In case the Beneficiary Bank Account is created with Bank Account, then populate the following fields:

• Account Number Type: Select Account Number
• Account Number/ IBAN: Populate an actual account number
• Transit Code Type:
  --> ABA/Routing Number: used in USA
  --> BSB: used in Australia
  --> Sort CODE: used as UK (and Ireland) bank transit code
  --> Transit Number & Institution Number: used in Canada
  --> IFSC: used in India for domestic electronic payments
  --> Bank Code
  --> Other Number

Upon saving, the details are synchronized with TransferMate in real time. If there is any discrepancy or invalid data, an error notification will appear directly on the record.

Payment Reference Template

By default, when a vendor bill is paid through Zone AP Payments, the NetSuite Bill Reference number (field ID: tranid) is used as the payment description.

If you need a different source for the payment description, you can create a Payment Reference Template and customize it per vendor as needed.

Example: A vendor may require both the document number (field ID: tranid) and a local payment reference number (field ID: custbody_payment_ref) to appear in the payment description.

Steps to create a custom Payment Reference Template:

Step 1: Retrieve the internal IDs of the fields on the vendor bill in NetSuite where the required information is stored.

Step 2: Create a new Reference Template:

• Navigate to AP Payment > Setup > AP Payment Reference Template > New

• Name: Enter a meaningful name for the template

• Payment Reference Template: Use the $ symbol to reference field IDs within {}.

Example format:

${tranid}_${custbody_payment_ref}

This will populate the payment description with both the bill reference number and the local payment reference number.

Saved template now can be selected on the beneficiary bank account.

CSV Import

For mass upload of vendor bank details you can use NetSuite CSV Import functionality. Check this article for the template and steps.