Vendors

Before you make a first payment, configure the payment methods accepted by your vendors.

Set up vendors for Payment Automation on the vendor record.

To work with vendors, go to SuiteBanking > Payment Automation > Dashboard, and on the left pane click Vendors. The following subtabs are available on the Vendors page:

• Eligible Vendors – lists vendors that can be eligible for Payment Automation.

• SuiteBanking Vendors – lists vendors that have been already approved for Payment Automation.

• Vendors Pending Approval – vendors that are waiting for approval for Payment Automation.

New vendor records or changes to vendor records and vendor bank records go through approval routing. For more information, see Setting Up Roles and Permissions, Vendor Approval Routing, and Approving Vendors.

To create a new vendor, go to Lists > Relationships > Vendors > New. For more information, see Creating a Vendor Record.

For information about modifying a vendor, see Editing a Vendor Record.

For information about modes of payment available in Payment Automation, see Payment Options.

Setting Up Vendors

To set up a vendor for Payment Automation:

1. Go to Lists > Relationships > Vendors, and then click View on the line with the vendor you want to set up for Payment Automation.

2. On the SuiteBanking subtab:

   • Check the Automated Payments box.

   • Select modes of payment in the Accepted Modes of Payment list.

   • Select a mode of payment in the Preferred Mode of Payment list.

   • Enter an email address in the Remittance Email field. Remittance email messages will be sent to this email address when a payment is made. You can enter two email addresses separated by a semicolon. A carbon copy of all future payment instructions will be sent to the second email address.

     Note:

     The remittance email address on the vendor record is not required for check or ACH payment types. However, it is required for VCard.

3. On the Financial subtab:

   • Select a payment account from the Default Vendor Payment Account list.

   • Select USD from the Primary Currency list. Payment Automation currently supports only USD.

4. Click Save.

Vendor Approval Routing

Vendor approval routing ensures that the details required for successful vendor payments are accurate. The approver must be a different user with access to the vendor record.

To learn how to set up vendors for Payment Automation, see Setting Up Vendors.

Vendor approval routing is available by default without any setup. To approve any changes, log in to NetSuite with the Vendor Master Approver role, the Administrator role, or a custom role with access to the vendor record.

A vendor approval is required:

• to create a new vendor for AP Automation.

• to enable an existing vendor for AP Automation.

• to modify the following fields related to payment automation processing:

  • Vendor Bank Details

  • Billing Address

  • Preferred Mode of Payment

  • Remittance Email

  • Accepted Modes of Payment

The status is reflected in the AP Automation Status field on the SuiteBanking subtab of the vendor record:

• Pending Approval – you cannot submit payments for processing or edit the vendor record.

• Approved – changes to the vendor record have been approved, and payments can now be submitted for processing.

• Rejected – changes to the vendor have been rejected, will not be reversed, and the vendor will not be paid through Payment Automation. Review the vendor record with the rejected status, and resubmit the record for approval.

You must have the Administrator, Master Approver, or a customof paym role with access to the vendor record to enter a bank account number in the Bank Account Number field on the Vendor Bank Account page when the vendor is in Pending Approval state.

Changes to standard and custom fields do not trigger vendor approval.

Approving Vendors

Important:

If you set up a payment approval workflow, payments created after payments are approved through batch approval will still require approval based on the workflow you have set up.

To approve a vendors or changes to vendor records in bulk:

1. Go to SuiteBanking > Payment Automation > Dashboard.

2. In the Payables section on the left pane, click Vendors.

3. Click the Vendors Pending Approval subtab.

4. Select the vendors that you want to approve, and click Approve. Note that if you bulk-approve a large number of vendors, the action may take some time to take effect.

To approve a single vendor:

1. Go to SuiteBanking > Payment Automation > Dashboard.

2. In the Payables section on the left pane, click Vendors.

3. Click the Vendors Pending Approval subtab.

4. Click the link in the Name column of a particular vendor.

5. On the vendor record page, click Approve.

To reject a single vendor:

1. Go to SuiteBanking > Payment Automation > Dashboard.

2. In the Payables section on the left pane, click Vendors.

3. Click the Vendors Pending Approval subtab.

4. Click the link in the Name column of a particular vendor.

5. On the vendor record page, click Reject.

Importing CSV with Vendors and Vendor Banks

Prerequisites:

• Prepare a CSV file with to be imported:

  • In a CSV file with vendors, include the following information in the specified order:

    Inactive, First Name, Last Name, Company Name, Category, Primary Subsidiary, Address 1, Address 2, City, State/Province, Zip Code, Automated Payment, Accepted Modes of Payment, Preferred Mode of Payment, Remittance Email.

  • In a CSV file with vendor banks, include the following information in the specified order:

    Primary Bank Account, Bank Name, Bank Account Type, Vendor, Bank Account Number, Bank Routing Number

Important:

If a CSV file includes the full names of states or provinces rather than short names, the import job may be complete, but state or province values may not be saved correctly. To avoid errors, use short names.

To import a CSV file:

1. Go to Setup > Import/Export > Import CSV Records.

2. Select Relationships from the Import Type list.

3. Select Vendors from the Record Type list.

4. Set the CSV Column Delimiter that you used in your CSV file.

5. Click Next.

6. Follow the steps in the Import Assistant.

Important:

While importing data, make sure the Run SuiteScript and trigger workflows boxes are enabled, along with required custom fields.

Managing Vendors

On the Vendors page of the Payment Automation Dashboard, you can see a list of all eligible vendors and all SuiteBanking vendors.

Vendor Bank Data

Vendor Bank data is required when the preferred mode of payment is ACH.

To set up the vendor bank account:

1. Go to Lists > Relationships > Vendors, and then click View on the line with the vendor for whom you want to set up the Vendor Bank Account.

2. In the SuiteBanking subtab, click New Vendor Bank Account.

3. Enter the Bank Name, Bank Account Number, and Bank Routing Number fields.

   Note:

   The account number is stored in an encrypted form and only visible in the Edit mode. It appears masked in the View mode.

4. Select the type of bank account from the Bank Account Type list.

5. (Optional) Check the Primary Bank Account box to make this bank account primary.

   Note:

   There can be only one primary bank account. All other bank records will be secondary.

6. (Optional) Check the Inactive box to mark this bank account as inactive.

7. Click Save.

Migrating Vendor Bank Data to Payment Automation

The migration of the vendor bank data from Electronic Bank Payments and Coastal Features to Payment Automation can be automated. This can be done by the administrator.

Details such as bank name, bank account number, and routing number are migrated, and the bank is made the Primary bank.

To automate migration of the vendor bank data to Payment Automation:

1. Go to SuiteBanking > Setup > Vendor Bank Data Migration.

2. From the Migration Type list, select Electronic Bank Payments Vendor Bank Data or Coastal Vendor Bank Data.

3. Click Migrate.

After the migration process is complete, the user who initiated the process will receive an email. To check the status of the migration, you can refer to the logs for more details. In case of any errors, you can rectify them and re-initiate the migration process. The administrator can perform this process, and if the migration is run multiple times, previously migrated data will be skipped.

Related Topics

Setting Up Payment Automation

Installing the Payment Automation SuiteApp

Applying for an HSBC Online Account

Generating Payment Tokens

Auto-Funding

Setting Up Approval Routing

Setting Up Two-Factor Authentication (2FA)

Setting Up Roles and Permissions

Setting up a Custom Role to Make Money Transfers

Setting Default Department, Class, and Location Values

Frequently Asked Questions about Payment Automation

General Notices