EFT Template in NetSuite

Problem Statement

The client wanted Electronic Fund Transfer file types in NetSuite using the given sample format. They provide services in nations including Hong Kong, USA, China, Germany, Mexico, among others. The file format differs from one country to another and a single format does not support all.  

Their bank has to create an EFT and provide a file format such as CSV or XML. Jobin & Jismi’s experts produced a file which they submitted to the bank. The firm also struggled with the particular format of entries. The bank will reject any file containing an extra comma or space.  

What We Suggested

Our experts suggested procuring the sample and instruction files from the bank. They then used them as the basis to create an EFT template. Our developers described the characteristics of EFT and they put into use on their site.  

They sought our help to use the sample format in NetSuite to create EPF file types. Our experts set up their bank information as the EPF handles the vendor’s bill during an item purchase. The vendor’s bank record has all the necessary information.  

One can enter all bank-related information in the vendor bank details. Creation of bills using EFT enables the handling of this bill. After the processing of the bill, the system displays a page entitled ‘EFT bill processing’. 

Following the processing of the bill, NetSuite creates a payment for that bill. Our experts created a new payment file format with the format provided. They worked with the client to use the same EFT template in NetSuite to create a “business bank details” record. 

The client also created a ‘vendor bank details’. It records the vendor’s information, including their bank account number, among other details. The customer then produces a bill for the vendor.  

Our client processed payments for invoices using EFT once they completed them. This created a file output. NetSuite created a bill payment after completing an EFT transaction. This happened after the customer downloaded the file and uploaded it in the file bank. 

Problems We Faced

Our experts encountered several difficulties when working on this project. The bank sent a file, which caused uncertainties about preserving the values. In such an ambiguous situation, the client got a field mapping.  

Using that format, developers produced a file and handed it over to the client. But when the bank received it, it had errors. There were also several issues with Bundle.   Occasionally, it displayed faults and the client informed developers about broken features.  

There was a lag in response time as a result of these issues.

Customer Success

Thanks to Jobin & Jismi’s intervention, customers were able to make payments more quickly using the EPF template. It also improved the business process making them prepared to deal with contingencies.

• Our team met the needs of the client. Our client was successful in fulfilling the requirements.

• Now there is no need to generate a file manually as NetSuite takes care of it.

• Using EFT helps the customer save time. The system generates a file and uploads it when multiple invoices are paid at once.

• The whole process saves time and the transaction is really quick.

• EFT helps create a bank payment file to pay for commissions, employee expenses, vendor bills, and customer refunds. You can modify the amount for partial payments and change the amount for including or excluding any bill.

It also allows filtering of choices to restrict the invoices presented (except refunds).  

Experience the highest level of Netsuite Customization Services with Jobin & Jismi. Contact us at contactus@jobinandjismi.com to schedule a consultation.