Setting Up Company Bank Records in Ireland
You must create company bank records from the Company Bank Details page for accurate validation and field sourcing. NetSuite does not recommend you to create company bank records by using SuiteScript APIs or CSV Imports.
Set up the bank account records that your company or subsidiaries will be using to send and receive electronic bank payments.
To set up company bank details in Ireland:
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Go to Payments > Setup > Bank Details > New.
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Complete the fields on the New Company Bank Details page.
Field
Description
Name
Enter a name for the bank record.
GL Bank Account
Select the GL account where the processed electronic bank payment transactions will be posted.
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 customers.
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.
EFT Template
Select BACS-Bank of Ireland, SEPA Credit Transfer (HSBC), or SEPA Credit Transfer (Bank of Ireland).
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.
File Name Prefix
If the EFT file format for this record is SEPA Credit Transfer (Bank of Ireland), enter PAIN001. The use of this file name prefix is mandatory only for SEPA Credit Transfer (Bank of Ireland). The prefix is attached to the beginning of each file number whenever this bank is used in creating a payment file. If the EFT file format is BACS-Bank of Ireland, the file name prefix is optional.
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Click Save.
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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.
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Complete the fields on the EFT Template Details subtab. The fields displayed are dependent on the EFT format selected.
Field
Description
Company Name
Enter your company’s name.
Identification Number
Enter your company’s tax identification or other number assigned by an entity to identify your company.
IBAN
Enter your company’s International Bank Account Number (IBAN).
BIC
Enter the Business Identifier Code (BIC), also called SWIFT code, of your company’s bank (eight or 11 characters).
Sort Code
Enter the 6-digit numeric sort code of your bank branch. This code is used by the British banking industry to route money transfers within the country using different clearance organizations.
Account Number
Enter your company's 8-digit bank account number.
Authorized ID No.
Enter your company's 6-digit, alphanumeric issuer number. This number is assigned by the bank.
HSBC Connect Id
Enter your company’s HSBC Connect Id.
Country
Select the country where your company is located.
Process Bills Automatically
Check this box if you want to process payment transactions for this bank account in batches. For more information, see Processing Bills and Expenses in Batches. Leave this box clear if you want to process payment transactions for this bank manually. For more information see, Manually Processing Bills and Expenses.
Accounts Payable
Select the accounts payable register where the payments will be posted.
Hide Transactions
Check this box if you want to hide the transaction lines on the Bill Payment Batches form when processing payments in batches. For more information, see Processing Bills and Expenses.
Note:This feature is available if Process Bills Automatically is enabled or Marked by Default is enabled.
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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.
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Click Add to save the payment batch. You can create more payment batches for the bank account.
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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.