Introduction

Zone AP Payments allows you to create multiple global bank accounts in various currencies. Once funds are transferred via an external top-up to a global account, you can seamlessly move money between TransferMate global bank accounts directly within NetSuite.

Request an internal funds transfer

Navigate to AP Payment > Funds Management > Transfer Funds

Click New Funds Transfer.

Once the pop-up appears, populate all required details.

Select the source bank account (From Bank Account), destination bank account (To Bank Account), amount and the description.

In case the currency of the source bank account is different then the currency of the destination bank account, the estimated exchange rate will be displayed immediately.

Mark the checkbox to confirm the transfer and click Submit Transfer to trigger the execution of the transfer between TransferMate global bank accounts.

Track the status of the transfer

After clicking Submit Transfer, a custom AP Payment Funds Transfer record is created to represent the executed transfer and its current status. As this is an internal transaction, execution is typically almost instantaneous. Once the payment provider confirms the transfer, the status is automatically updated from Pending to Completed.

Users logging in with a custom NetSuite role must have permission to the AP Payment Funds Transfer custom record, granted by an Administrator, to ensure proper access and functionality.

⚠️ Important: Please note that this record does not have any GL impact. You must manually reconcile this type of intercompany transfer to ensure accurate balances in your GL accounts in NetSuite.