1. Country-Specific Features
  2. Malaysia Help Topics
  3. Malaysia Payment Formats
  4. Setting Up Company Bank Records in Malaysia

Setting Up Company Bank Records in Malaysia

Set up the bank account records that your company or subsidiaries will be using to make electronic bank payments.

To set up company bank details in Malaysia:

  1. Go to Payments > Setup > Bank Details > New.

  2. Complete the fields on the New Company Bank Details page.

    Field

    Description

    Name

    Enter a name for the bank record.

    GL Bank Account

    Select an MYR denominated GL Bank account that will be used to originate payments in Malaysia.

    Note:

    The Subsidiary and Currency fields are automatically populated when a GL Bank Account is selected. Subsidiaries are only available in NetSuite OneWorld. If a GL bank account is not available in the dropdown list, go to Setup > Accounting > Manage G/L > Chart of Accounts > New to create one. For more information, see Creating Accounts.

    Legal Name

    Enter your company's legal name. This will be used in the electronic bank payment files.

    Print Company Name

    Enter the company name that should appear on email notifications of payment transactions sent to vendors, employees, and partners.

    EFT Template

    Select any of the following payment file formats to use when making payments through this bank.

    • Maybank Malaysia 2E-RC Domestic Transfer

    • Maybank Malaysia 2E-RC International Transfer

    • Citibank Malaysia XML Domestic Transfer

    • Citibank Malaysia XML International Transfer

    • Citibank Malaysia XML GIRO

    Note:

    To use international transfer payment formats, you must have an active Advanced Electronic Bank Payments License and the NetSuite SuiteApps License Client installed in your account.

    File Cabinet Location ID

    Enter the internal ID of the folder that you created for storing payment format files. For more information, see Creating Folders in the NetSuite File Cabinet.

    Marked by Default

    Check this box if you want the payment transactions for this bank account automatically checked when they are displayed in the Bill Payment Batches list and the Bill Payments form.

    File Name Prefix

    (Optional) Enter a prefix for the file number sequence. The prefix is attached to the beginning of each file number whenever this bank is used in creating a payment file.

  3. Click Save.

  4. Complete the additional bank detail fields.

    Field

    Description

    Department

    Select the department for payments made under this bank account.

    Class

    Select the class for payments made under this bank account.

    Location

    Select the location for payments made under this bank account.
    Note:

    For each category, you can set up to 50,000 classes, departments or locations. Setting up more than 50,000 for each category may slow down the loading of the dropdown list of categories.

  5. Complete the fields on the EFT Template Details subtab. The fields displayed are dependent on the EFT format selected. Complete the fields that are only displayed and disregard those that are not displayed.

    Note:

    The EFT Template Details subtab is not displayed if you did not select a value in the EFT Template field.

    Field

    Description

    Account Number/Bank Account Number

    Enter your company's bank account number.

    • For Maybank Malaysia 2E-RC Domestic Transfer – maximum of 20 digits

    • For Maybank Malaysia 2E-RC International Transfer – maximum of 20 digits

    • For Citibank Malaysia XML Domestic Transfer - maximum of 34 digits

    • For Citibank Malaysia XML International Transfer - maximum of 34 digits

    • For Citibank Malaysia XML GIRO - maximum of 34 digits

    BIC or Swift Code

    Enter the Business Identifier Code (BIC), also called SWIFT code, of your company’s bank.

    Bank Code

    Enter the 4-digit identification code of your company’s bank.

    Corporate ID

    Enter the login credentials provided by Maybank.

    Address

    Enter the address of your company’s bank; either structured (Street, Building Number, Postcode, Town, Country SubDivision, Country) or unstructured address, which must exist in the bank's Ordering Party Library.

  6. If you want to create multiple payment batches for this bank account, complete the fields on the Batch Details subtab.

    Field

    Description

    Batch Details Name

    Enter a name for the payment batch.

    Saved Search

    Select the search criteria to group the bills and expenses that will be included in the payment batch.

    Payment Schedule

    Select a payment schedule for when the payment batches should be automatically created and submitted for processing. To set up payment schedules, see Setting Schedules for Payment Batches. You can leave this field blank and choose to manually trigger the system to create payment batches by clicking Refresh Batch.

    Inactive

    Check this box if you want to make a payment batch inactive. When you mark a record as inactive, it is not displayed in lists and dropdown fields. However, the record remains in the system for future reference.

    Note:

    If you check the Inactive box for the main batch, bills that do not meet search criteria will not be included in the payment batch.

    Email Recipient

    Select the employee to whom a notification should be sent whenever payment batches are created per schedule.

    Click Add to save the payment batch. You can create more payment batches for the bank account.

  7. Click Save to save the company bank details.

If you want to set up approval routing for this bank account, see Setting Up Approval Routing for Payment Batches.

Related Topics

General Notices