Remittance Advice (NetSuite)

remittance advice options remittance advice is a document or notification that is sent along with a payment to provide information about that payment the document or notification can appear in different formats electronic remittance and email remittance electronic remittance the information the recipient views on their bank statement email remittance an optional email submitted to the vendor upon payment submission, indicating information about the payment the plugin makes it easy for you to be a good customer and effortlessly submit both electronic and email remittances for all of your payments electronic remittance by default, the plugin submits the highest level of electronic remittance information as possible, when possible different payment networks and methods have different capabilities for transferring information to the recipient's bank statement the default implementation for ach payments is to have ctx enabled for ach payments, resulting in the best opportunity for high quality data to be received by your vendors in payments you submit to make changes to your payment remittance, such as enabling or disabling ctx, please reach out to your bank representative details about what information is extracted from the erp for the purposes of remittance can be found below email remittance there are two methods of email remittance available to you j p morgan's split remittance product ( ach only ), or the fispan remittance advice product ( all payment methods supported ) j p morgan split remittance this email remittance product leverages the bank's secure email service and includes detailed and rich information about the ach payments submitted only available for ach payments requires a jpm (h2h payments/paysource) implementation project there are fees associated with this solution important note split remittance emails are sent once the payment is released from host to host to enable this product, please reach out to your bank representative fispan remittance advice the fispan remittance advice product is a service that automatically sends an email to the listed email(s) of the vendor for each payment submitted the email will contain your company name and the list of bills paid, including the reference/invoice #, invoice date, amount, discount used if any credits have been applied, the credit's reference number and amount will be displayed each remittance email can be sent to up to 5 email addresses by default, the system will pickup the vendor's email address however, if you prefer, you may set a list of "payables email addresses" on the custom tab of the vendor's profile (netsuite) or the payment methods page (sage intacct and business central) the email will come from fispan and carry the branding of your bank as a user, you can configure a "reply to" email address, which would be seen by the recipient and used if they attempted to reply to the remittance advice email if you would like to receive a copy of all remittance advices, you can configure which email you would like to receive these to if you would prefer to have an alternative company name in the email, you can request us to configure this on a per bank account basis remittance emails are submitted shortly after the payment has been successfully sent from the erp the subject of the email sent via remittance advice looks like "your customer {customer name} has initiated a payment " enabling the group bills for payment function means only one remittance email will be sent out for the whole list of multiple bills grouped together for the same vendor into a single payment if this feature is not enabled for this vendor then each paid bill is considered its own unique payment with its own remittance email, resulting in multiple payments and multiple emails! configuring remittance advice to enable or manage the settings for remittance advice, navigate to https //sys fispan live/ (for sandbox https //sandbox fispan cloud/ ) and log in using your fispan credentials if not already there, navigate to the app center remittance advice, as well as any other available extra features, will be displayed in the lower "discover more" section to begin enabling remittance advice, hover over the card and select "learn more " don't see remittance advice in the connected or discover more sections? please reach out to support to have this product made available to you the learn more button will begin the short setup process in order to complete the setup, we require a few details from you all emails are delivered by no reply\@fispan com , which is not a monitored inbox, however when a vendor clicks reply to a remittance email, the email address you input in the “vendors can reply to” field will populate and this address will receive the vendor’s response to the remittance email internal copies of all remittance advices will be sent to the emails noted for copies once "enable remittance" is selected, it can take up to 15 minutes for the changes to come into effect modifying fispan remittance advice settings want to see the current settings or make a change? you can do so through the app center by selecting the drawer on the remittance advice card and selecting "open settings"; to disable the integration, select "disable " disabling can take up to 15 minutes to come into effect netsuite details used for remittance vendor and bill data are used to support both electronic and email remittances netsuite vendor object two primary details are of interest for remittance quality on the vendor record individual vs company ctx (added payment remittance for ach) is only available when the recipient is a company payables email addresses this list of csv emails can be used to override the default "email" value on the vendor record and would be used for all payment related purposes (including remittance and virtual cards, where applicable) netsuite bill object the remittance information sent with your payment is pulled from the fields you’ve populated in netsuite the record in netsuite can advise on what was populated for the payment below are those fields vendor name reference number(s) posting date from invoice gross invoiced amount discount applied net remitted amount purchase order(s) memo unlisted fields, such as billing address, may be used for other purposes, such as payment routing and file creation