Creating, Applying, and Matching Payments for Open Payables Using Payment Application Suggestions

Payment application suggestions help you create and apply a bill payment for an open payable. The system then matches the bill payment to an imported bank transaction. Use this procedure when NetSuite shows an Apply Payment or Review Payment Options suggestion for an open payable on the Match Bank Data page.

Payment application suggestions support only one-to-one matches for the full outstanding amount. Partial payments and multiple payables for one bill payment are not supported. Use the manual bill payment flow on the Transactions to Match subtab to create a partial payment. You can also use this flow to apply a bill payment to multiple open payables for the same vendor and accounts payable account. For instructions, see Creating Bill Payments from Transactions to Match.

Before you begin

Before beginning, make sure the following requirements are met:

• The Generate Match Suggestions for Accounts Payable accounting preference must be enabled. This preference is enabled by default. For details, see Bank Matching and Reconciliation.

• You need the Reconcile and Pay Bills permissions with at least create-level access. For more information, see Permissions for Banking Features.

• The payable must be open and posting, and its subsidiary and currency must match the bank account.

Payment application suggestions aren't generated when Vendor Payment Approval Routing is enabled. For more information, see Custom Workflow-Based Approvals for Vendor Payments.

When NetSuite creates a bill payment from a payment application suggestion, it copies the header-level Class, Department, and Location values from the payable transaction to the payment. Examples of payable transactions include bills and expense reports.

Note:

NetSuite can't create a bill payment from a payment application suggestion if a mandatory field requires a value that the suggestion doesn't provide. Payment application suggestions don't support mandatory line-level Class, Department, or Location fields, or other fields that have been made mandatory. If your business process doesn't require the field on bill payments, you can configure the payment form so that the field is optional. Otherwise, create and apply the bill payment manually. For instructions, see Creating Bill Payments from Transactions to Match.

To create, apply, and match a payment for an open payable using a payment application suggestion:

1. Go to Transactions > Bank > Bank Matching and Reconciliation > Match Bank Data.

2. From the Account list, select the bank account you want to review.

3. On the Match Suggestions subtab, find the imported bank transaction with a payment application suggestion.

4. If the suggested action is Apply Payment, do one of the following:

   • Click Submit to submit the suggestion from the row.

   • Click View to expand details about the suggestion. Review the payment application suggestion, and then click Apply and Submit or Reject Suggestion.

     Note:

     If you see a message that the payment application suggestion is no longer available, refresh the page and try again. If needed, run reconciliation rules or import bank data to generate new suggestions. This guidance also applies to steps 5 and 6.

5. To submit or reject multiple payment application suggestions with one option, check the box next to each suggestion. Then, click Submit Selected Suggestions or Reject Selected Suggestions.

6. If the suggested action is Review Payment Options, click Review to review the suggested payables for the payment, and then do one of the following:

   • Select the appropriate option, and then click Apply and Submit.

   • To reject all suggestions, click Reject Suggestions.

When you submit a payment application suggestion, NetSuite creates a bill payment and applies it to the open payable. NetSuite then matches the bill payment to the imported bank transaction. The imported transaction and bill payment then appear on the Reconcile Account Statement page, where you can reconcile them.

Note:

If you undo the reconciliation on the Reconcile Account Statement page, NetSuite does not remove the bill payment created when you submitted the payment application suggestion.

If you reject one or more payment application suggestions, NetSuite removes the suggestions. The imported transactions associated with the rejected suggestions appear on the Transactions to Match subtab for manual matching. To generate eligible suggestions again, run reconciliation rules.

Note:

NetSuite periodically checks payment application suggestions and removes the entire suggestion if a change to the related payable makes the suggestion invalid. This can occur in the following scenarios:

• The payable is paid, fully credited, voided, deleted, or otherwise closed before the suggestion is accepted.

• The amount due changes and no longer matches the imported transaction amount.

• The payable remains open but becomes ineligible because of a change to its posting or approval state, account, currency, vendor, or subsidiary.

To update the displayed suggestions, refresh the Match Bank Data page or click the refresh icon on the Match Suggestions subtab. The imported transaction remains eligible for a new suggestion and is available on the Transactions to Match subtab. NetSuite can generate a new suggestion for it during a later bank transaction import or when you manually run reconciliation rules.

General Notices