Setting Up Company Bank Records for Positive Pay
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.
You need to set up the bank details of your company to generate positive pay file formats.
To set up company bank records to use Positive Pay:
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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 issued checks to be included in the Positive Pay file format are 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.
Positive Pay Template
Select BoA/ML if your bank uses the Positive Pay file format specifications of Bank of America Merrill Lynch.
Select RBC if your bank uses the Positive Pay file format specifications of RBC Bank.
Select SVB-CDA if your bank uses the Positive Pay file format specifications of Silicon Valley Bank for Controlled Disbursement Accounts.
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
(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.
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Click Save. 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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On the Positive Pay Template Details subtab, enter your company's bank account number.
Note:Enter a 12-digit account number if your company uses the BoA/ML Positive Pay file format including leading zeroes if the account number has fewer than 12 digits. Enter a 10-digit account number if your company uses the RBC Positive Pay file format including leading zeroes if the account number has fewer than 10 digits.
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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.
Email Recipient
Select the employee to whom a notification should be sent whenever payment batches are created per schedule.
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.
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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.