ANS-1805 · PURCHASE & VENDOR MANAGEMENT
How to Enable ACH/EFT Payments for Vendors in NetSuite
NetSuite offers both a no-cost and a paid add-on version for Electronic Funds Transfer (EFT) payments, supporting various formats and countries for vendor and employee transactions.
Short answer
NetSuite includes standard EFT payment formats for vendors and employees, and Direct Debit for customers, as part of its Standard edition (not CRM). A no-cost version provides basic functionality for the edition's country, while a paid add-on offers enhanced features like access to all supported formats, limited tailoring, and improved batch management for greater throughput.
Scenario
Organizations using NetSuite often seek to implement Electronic Funds Transfer (EFT) or Automated Clearing House (ACH) payments for their vendors. Understanding the available options and their respective functionalities within NetSuite is crucial for efficient payment processing.
Solution
The NetSuite product Matrix for 2013.1 indicates that EFT functionality comes standard with NetSuite Standard edition (not CRM).
A no-cost version of this add-on may be downloaded into customer accounts. This version provides EFT payment formats (vendor, employee) and Direct Debit (customer) for selected formats and countries. The no-cost version restricts customers to using the formats for the country of their edition (or country in the case of the International edition).
A paid for version is available with enhanced functionality (marked as ADD ON in the matrix). This includes access to all supported formats, limited ability to tailor formats, and improved batch and queue management functionality for greater throughput.
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