Automate your supplier payments using EFT Manager from Online One.
Now there is no need to write cheques to pay suppliers. Avoid tedious error-prone cheque runs, the bugbear of signing cheques and unnecessary postal costs. Use EFT Manager inside NetSuite, the same system you track all your accounting, customer and financial information. The file produced by EFT Manager can easily be uploaded to your Australian bank account with all payments processed quickly and easily.
How does it work?
When you are ready to pay bills in NetSuite, select the Online One EFT Payment Wizard to start the guided process. Select the relevant bank account as the first step and in the next step the wizard will automatically pull in all the appropriate bills that are marked for payment. You can edit the list directly and, once satisfied, complete the process and submit the batch for payment. The result is a file in the ABA format required by Australian banks. You then upload the file to the bank and have payments processed automatically.
What are the benefits?
- Easy EFT Process - manage your entire EFT process from a single tab inside NetSuite
- Automated Bank Reconciliation - the EFT generation process groups payments together with one payment process identifier. This makes bank reconciliation easy.
- Automated Supplier Remittance Advice - automatically emails payment advice to each supplier on the payment run and consolidates all bills paid into one email showing the breakdown of the payments.
- Multiple Bank accounts - supports an unlimited number of bank accounts for EFT runs.
- Multiple Subsidiaries - compatible with NetSuite One World multi-company installations.
- Suppliers EFT default - mark suppliers as being paid via EFT by default, allows bills to be auto set to be paid by EFT.
What should I do next?
We can easily setup an online demonstration or talk further about your requirements. Our contact details are below. One easy step and we can save you a lot of time.
