NETSUITE

ELECTRONIC PAYMENTS
Securely Automate EFT Payments and Collections with a Single
Global Solution

NetSuite Electronic Payments brings

complementary electronic banking Key Features
functionality to NetSuite that includes • Automated payment batch allows multiple
electronic funds transfer (EFT) payments, payment batch creation stemmed from
customer refunds and customer payments different batch criteria, controls and
(direct debits) as well as check fraud payment deadlines.
prevention through the Positive Pay service • Approval routing and email alert notification
enables additional payment authorization
offered by leading banks. It helps ensure that
prior to payment processing.
employees and vendors are paid on time and
• Enhanced EFT capabilities with filtering
customer bills are settled automatically. With options support bill display, partial
support for a wide range of global and local payments, bill management and
bank formats, NetSuite Electronic Payments other controls.
provides a single payment management • Automated direct debit customer collections
solution worldwide. to settle outstanding invoices.
• Payment management options include
NetSuite Electronic Payments creates files of payment batch queuing, rollbacks, reversals
payments or direct debit information in each with notations and automated notifications.
bank’s predefined file format ready to import • Positive Pay anti-fraud capabilities with
into banking software or submit to the bank proactive notification to banks processing
the checks.
online, thus lowering payment processing
expenses by eliminating checks, postage • Support for more than 50 international bank
formats with OneWorld customers having
and envelopes and saving time as well. In the flexibility to add more.
addition, it supports management of large
• Process multiple payment batches
concurrently in separate queues.
payment runs (typically up to 5,000 payments SuiteApp includes sophisticated pagination
per file) with the ability to process reversals options to simplify working with large data
and partial credits, or re-generate the file. With sets by controlling the number of transactions
user-defined payment notification, payees can displayed on each page as well as enabling
get immediate email notification of a payment. you to move back and forward through pages
Flexible payment aggregation makes it without losing settings.
possible to define one payment per vendor/
employee, per bill/expense or based on a Direct Debits
user-defined grouping. NetSuite Electronic Payments supports
automatic customer collections (direct debits)
NetSuite Electronic Payments is freely to settle outstanding invoices with the same
available for download by all customers and power and flexibility that you use to pay
provides payment capabilities for local banks vendors and employees.
in your geography.
Payment Management
The advanced NetSuite Electronic Payments The capabilities of NetSuite Electronic
for OneWorld edition is available by Payments don’t stop when you complete your
subscription and provides access to more than selection of bill and expenses to pay. You
50 bank formats on a global basis. It provides can enable payment approval routing and
additional capabilities to automatically create automatically route payment batches
batches of payments matching your selected for approval to multiple approvers. Each
criteria. These can be quickly reviewed and approver will get an email notification alerting
approved, leaving you more time to focus on them that they need to review and approve
reviewing those payments that do not meet payment batches. Payment processing queue
your criteria. capabilities allow you to submit multiple
payment batches for processing with the
Payment (EFT) Capabilities option to reorder them in the queue to
NetSuite Electronic Payments allows you accommodate urgent payments.
to generate bank payment files to make
payments covering vendor bills, employee Once the payment file is generated, you
expenses, commissions and customer refunds. can roll back changes, select one or more
SuiteApp gives you control with filtering payments to reverse or simply recreate the
options to limit the bills displayed, the ability file. Payment reversals put you in control with
to include or exclude any bill as well as alter the ability to set the date and period for the
the amount for partial payments (except reversal, to simplify month-end procedures.
refunds). You can also choose whether to It gives you flexibility to set individual reason
make separate payments for each bill, group for reversal and stored in memo field to
bills with a single payment per vendor or add further simplify reconciliations.
your own supplementary grouping to ease
reporting and reconciliation.

© NetSuite Inc. 2016 Page 2

A notification capability allows you to email Positive Pay
payment notification directly from SuiteApp. NetSuite Electronic Payments provides
You can send a single message to everyone support for Positive Pay file generation. This
about to be paid or tailor the message at feature provides anti-fraud capabilities by
the individual payment level if required. enabling you to notify your bank of the
Senders can change the default recipient amount and payee for all checks you have
and add additional recipients in To, Cc and issued. Providing this information to your bank
Bcc fields. Email templates are available before checks are presented for payment
and customizable, enhancing the payment allows the bank to confirm that the check
notification process and communication. details have not been altered. NetSuite
Electronic Payments Positive Pay functionality
Approval Routing: Create and manage also includes details of voided checks so
approval workflows to obtain required that these are blocked by the bank to further
authorization, and route payment batches for enhance security.
approval automatically to multiple approvers.
Each approver will get an email notification Worldwide Bank Support
alerting them that they need to review and NetSuite Electronic Payments is globalized
approve payment batches. to support over 50 bank formats with new
formats being added in each release. Users
of the NetSuite Electronic Payments for
OneWorld edition can also create their own
templates to extend coverage if a suitable
template is not available as standard.

Supported Countries and Formats for EFT

Country EFT Formats Country EFT Formats
SEPA (Austria) Pain.001.001.02 CBI Payments
Austria SEPA Credit Transfer (Austria) Italy SEPA Credit Transfer (CBI)
SEPA Credit Transfer (HSBC Bank) SEPA Credit Transfer (HSBC Bank)
ABA Japan Zengin
ANZ (ANZ Bank) ABBL VIR 2000
Australia ASB (ASB Bank) SEPA Credit Transfer (ABN AMRO Bank)
Luxembourg
BNZ (Bank of New Zealand) SEPA Credit Transfer (HSBC Bank)
Deskbank (WestPac Bank) SEPA Credit Transfer (Luxembourg)
CIRI-FBF Equens - Clieop
SEPA Credit Transfer (Belgium) Equens - Clieop (ING Bank)
Belgium
SEPA Credit Transfer (ABN AMRO Bank) Netherlands SEPA Credit Transfer (ABN AMRO Bank)
SEPA Credit Transfer (HSBC Bank) SEPA Credit Transfer (HSBC Bank)
Brazil CNAB 240 SEPA Credit Transfer (Netherlands)

© NetSuite Inc. 2016 Page 3

 ACH CCD/PPD (NACHA) ABA
ACH - CTX (Free Text) (NACHA) ANZ (ANZ Bank)
Canada
CPA - 005 (Royal Bank of Canada) New Zealand ASB (ASB Bank)
PNC ActivePay (PNC Bank) BNZ (Bank of New Zealand)
ABO Deskbank (WestPac Bank)
Czech Republic
SEPA Credit Transfer (HSBC Bank) DBS - IDEAL (DBS Bank)
CFONB HSBC ISO 20022 (Singapore)
Singapore
SEPA Credit Transfer (ABN AMRO Bank) Interbank GIRO (JP Morgan Bank)
France
SEPA Credit Transfer (France) UoB - BIB-IBG (United Overseas Bank)
SEPA Credit Transfer (HSBC Bank) South Africa Standard Bank
DTAUS AEB - Norma 34
DTAZV Spain SEPA Credit Transfer (ABN AMRO Bank)
SEPA Credit Transfer (Germany) SEPA Credit Transfer (HSBC Bank)
Germany
SEPA Credit Transfer (Austria) BACS (HSBC Bank)
SEPA Credit Transfer (ABN AMRO Bank) BACS - Albany ALBACS-IP
SEPA Credit Transfer (HSBC Bank) BACSTEL-IP (NatWest Bank)
United
Hong Kong HSBC ISO 20022 (Hong Kong) BACS - BoS (Bank of Scotland)
Kingdom
Hungary Raiffeisen Domestic Transfer (Raiffeisen Bank) BACS - Bank of Ireland
BACS - Bank of Ireland SEPA Credit Transfer (ABN AMRO Bank)
Ireland SEPA Credit Transfer (Bank of Ireland) SEPA Credit Transfer (HSBC Bank)
SEPA Credit Transfer (HSBC Bank) ACH CCD/PPD (NACHA)
Isle of Man BACSTEL-IP (NatWest Bank) ACH - CTX (Free Text) (NACHA)
United States
CPA - 005 (Royal Bank of Canada)
PNC ActivePay (PNC Bank)

Supported Countries and Format for Direct Debit:

Country Direct Debit Positive Pay Formats
Australia ABA BoA/ML (Bank of America Merrill Lynch)
DTAUS RBC (Royal Bank of Canada)
Germany
SEPA Direct Debit (Germany) SVB - CDA
(Silicon Valley Bank - Controlled Disbursement Accounts)
CBI Collections
Italy
SEPA Direct Debit (CBI)
DBS - IDEAL (DBS Bank)
Singapore
UoB - BIB-IBG (United Overseas Bank)
United Kingdom BACS (HSBC)
United States ACH - PPD (NACHA)

International Formats:
International Formats Available with NetSuite Electronic Payments For OneWorld
JP Morgan Freeform GMT*
Barclays MT103*

*Multi-Currency bank formats

© NetSuite Inc. 2016 Page 4

NetSuite Electronic Payments for OneWorld process payments at the same time to tailor
The enhanced NetSuite Electronic Payments for performance to their needs and scale as the
OneWorld edition expands on the functionality business grows.
in the free version with more power, flexibility
and additional capabilities that include: Which Edition Do I Need?
The free version and the subscription-based
• Worldwide Format Support: Access all NetSuite Electronic Payments for OneWorld
available payment templates without being edition can both be used on either a single
restricted by geography and provide instance of NetSuite or NetSuite OneWorld.
overseas subsidiaries with the same
powerful payment processing options. NetSuite Electronic Payments (free): Can be
• Multi-Currency Processing: Powerful multi- installed in either a single instance of NetSuite
currency capabilities make it easy to pay or in NetSuite OneWorld (but can only be
suppliers, refund customers and debit used to make payments in a single country).
customer payments across the globe in a The country is defined by the edition/company
single payment run (with banks supporting address for single instance or by the company
this capability). Additionally you can set address of the parent company for OneWorld.
exchange rates to be used for each currency If you run OneWorld with all your subsidiaries
to match those used by your bank to save in the same country, you can use this version
time when reconciling your bank statements. as well. However, you should consider the
advantages of the OneWorld edition in
• Automated Payment Batch Creation:
this scenario.
Automatically create batches of payments
matching your selected criteria, set payment NetSuite Electronic Payments for OneWorld:
deadlines and other batch controls. This This version can be installed in either a single
functionality includes a payment dashboard instance of NetSuite or NetSuite OneWorld.
that shows you how many batches are Users have access to more than 50 payment
available for processing, the number of bills formats supported by NetSuite and can
in each and the total batch value. also create their own templates. NetSuite
• Custom Template Support: The OneWorld Electronic Payments for OneWorld is required
edition enables you to create your own when subsidiaries are located in more than
templates to add support for new banks or to one country and you want to make payments
tailor the existing templates. using SuiteApp. You would also need it for
single-instance accounts when multiple
• SuiteCloud Plus Support: Users with
nexuses are in operation and payments have
SuiteCloud Plus installed can configure
to be made to banks in other countries.
NetSuite Electronic Payments for OneWorld
to use multiple parallel script queues to Installing NetSuite Electronic Payments is
required before installing the OneWorld version.

© NetSuite Inc. 2016