Zone AP Payments allows you to move funds between TransferMate Global Bank Accounts directly within NetSuite. This article explains how to request an internal funds transfer and track its status.
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Request an internal funds transfer
- Navigate to AP Payment > Funds Management > Transfer Funds.
- Click New Funds Transfer.
- In the pop-up that appears, populate the following fields:
- From Bank Account: Select the source global bank account.
- To Bank Account: Select the destination global bank account.
- Amount: Enter the amount to transfer.
- Description: Enter a meaningful description for the transfer.
- If the source and destination bank accounts use different currencies, review the estimated exchange rate displayed automatically.
💡 Tip: The estimated exchange rate is displayed in real time when the source and destination accounts use different currencies. Review it before confirming the transfer.
- Select the confirmation checkbox to confirm the transfer details.
- Click Submit Transfer to execute the transfer between TransferMate Global Bank Accounts.
Track the status of the transfer
After clicking Submit Transfer, an AP Payment Funds Transfer record is created automatically to represent the executed transfer and its current status. Because this is an internal transaction, execution is typically near-instantaneous. Once the payment provider confirms the transfer, the status updates automatically from Pending to Completed.
Important: Users with a custom NetSuite role must be granted permission to the AP Payment Funds Transfer custom record by an Administrator to ensure proper access and functionality.
Important: The AP Payment Funds Transfer record has no GL impact. You must manually reconcile this type of intercompany transfer to ensure accurate balances in your GL accounts in NetSuite.