Calculating Zengin Bank Fee when Processing Bill Payments
The Electronic Bank Payments SuiteApp automatically calculates the bank transfer fee every time you pay vendor bills to a single or multiple vendor.
The bank fee is deducted from the total payment amount to be transferred depending on your negotiation with your vendors. Based on your vendor record preference, the Vendor Bank Fees checkbox on the Bill Payment page will indicate if the vendor or company will pay the bank transfer fee for every payment transaction. For more information, see help topic Setting Up Vendor Records for Zengin Bank Fee Calculation.
To calculate the bank fee and pay bills to a single vendor, go to Transactions > Payables > Pay Single Vendor. For more information, see Paying Bills to a Single Vendor.
To calculate the bank fee and pay bills to multiple vendors, go to Transactions > Payables > Pay Bills. For more information, see Paying Bills to Multiple Vendors.
When importing bill payment transactions via CSV import, make sure that the Run Server SuiteScript and Trigger Workflows preference is enabled in your account. This preference is required so that correct bank fee is calculated during import. For more information about this preference, see Setting CSV Import Preferences.
Vendor Pays the Bank Transfer Fee
On the Bill Payment page, if the Vendor Bank Fees box is checked, the calculated value of the Bank Fee field under the EFT subtab will be paid by the vendor. The total payment amount less the bank fee will be the amount that will be reflected once you generate the payment file. The value reflected in the payment file will be the amount that will be transferred to the payee's bank account.
The Vendor Bank Fees checkbox is disabled on the Bill Payment page. If you want to change the preference for the payment transaction, edit the vendor record first before creating the bill payment.
Company Pays the Bank Transfer Fee
On the Bill Payment page, if the Vendor Bank Fees box is not checked, the calculated value of the Bank Fee field under the EFT subtab will be paid by the company. The full amount will be reflected once you generate the payment file for electronic bank payment.
In Japan, bank transfer fee of payment transactions for the following entities are paid by the company:
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Employees
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Partners
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Customers
Guidelines for Zengin Bank Fee Calculation
Consider the following setup to ensure the correct bank fee is calculated when processing bill payments:
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Both company and entity bank account must use a Zengin payment file template. For more information, see the country-specific help topic about setting up company and vendor bank account records.
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You must set up a Zengin Bank Fee Schedule to ensure correct the correct bank fee will be calculated. For more information, see Setting Up Zengin Bank Fee Schedule.
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For bill payment transactions to less the bank transfer fee from the total amount if the supplier or vendor will pay the fee, enable the Vendor Bank Fees checkbox on the vendor record. For more information, see Setting Up Vendor Records for Zengin Bank Fee Calculation.
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To ensure bank fee will be calculated when processing payments, make sure that the For Electronic Bank Payments box on the Bill Payment transaction page is checked.