B2B Payment Best Practices for NetSuite

B2B Payment Best Practices for NetSuite

This Kit covers NetSuite's payment automation essentials, including:

  • NetSuite ERP basics
  • Digital transformation importance
  • Finance and accounting strategic role
  • Must-have features required for streamlining and improving AR at scale
  • Three factors to consider when choosing a NetSuite payment solution

Download our free B2B Payment Best Practices for NetSuite and gain all the knowledge you need to improve your end-to-end digital process for modern cash management.

“The Paystand platform has done exactly what we expected it to do. We’re thrilled that the results.”

Choozle Headshot
AJ Heffernan

Director of Finance & Operations, Choozle

NetSuite Payment Processing

NetSuite is a leading business software suite for business accounting, CRM, and more. While it includes many features, NetSuite payment processing is among the most popular. This solution, SuitePayments, integrates with other services, allowing users to centralize their payment process in one platform. Also, NetSuite ACH payments and NetSuite ACH vendor payments can be managed within the platform's electronic bank payment software. 

Check out NetSuite's advanced electronic bank payments if you're looking for software that can handle even the most complex tasks.

With NetSuite electronic bank payments, you can generate payment files covering everything from vendor bills to refunds and access filters to display only specific bills. It also allows flexibility in paying each bill and deciding whether to make separate or group payments.

The NetSuite Bank Feeds SuiteApp can automatically upload your card information from your bank account, making it easier than ever to transfer data between platforms. NetSuite customer payments can also be managed within the platform.

Paystand is a B2B payment solution that enables quick, seamless B2B payments. With Paystand, you can automate your cash cycle from beginning to end. This decreases DSO by at least 60%, reducing fraud and chargebacks with verification tools. 

NetSuite users can streamline payment processing using Paystand and handle everything from invoice to reconciliation. This integration allows for quick and easy automation, reducing the time spent processing payments. This is ideal for anyone wanting to streamline their process and simplify payments. It's also an excellent option for those experimenting with automation.


NetSuite Vendor Payment Processing

NetSuite can process incoming payments automatically with vendor payment processing. Its accounts payable (AP) tools let you manage the AP process, leveraging automation to simplify supplier payments. 

Invoices are integral to AP, but staying on top of each received invoice can be difficult. Thankfully, NetSuite invoice processing features help ease the burden of invoice management. You can check out a NetSuite accounts payable manual to better understand what the platform offers regarding AP.

When manually managing your payment process, it can be easy to overlook essential items or miss critical deadlines. Many solutions, including NetSuite payment processing solutions, are available to help you stay on top. The platform gives complete visibility into transaction history and a payment audit trail. This can help you stay organized and ensure that you maintain accurate records. Since NetSuite accepts various card payment options, you can optimize your cash flow and get things moving through the cycle much quicker.

NetSuite vendor prepayment allows tracking and management of all prepayments. This solution can benefit businesses working with multiple vendors. Managing each vendor in NetSuite can ensure the completion of all essential payments or documents. 

Vendor and AP management can be difficult, but NetSuite can simplify the process. It's even easier with Paystand's integration. It enables users to streamline and automate manual AP tasks. Managing the AP process frees time to attend to more pressing business matters.


NetSuite Payments

The NetSuite payment portal offers users many options. Likewise, the NetSuite B2B portal empowers those in B2B to manage the selling process and maximize buying efforts. Suppliers and buyers can collaborate in the NetSuite vendor portal. It simplifies communications and allows users to track performance to understand vendor management tools and data fully.

Whether you want to access the NetSuite customer portal or make payments, the platform has something for everyone. One of automated software's primary advantages, such as that of NetSuite, is how you can focus your efforts elsewhere. Manually managing your accounting process can be highly taxing—mainly if you work with several vendors with different payment methods. NetSuite can help relieve some of the stress of AP management and accounting-related tasks.

Paying through NetSuite can be done with a simple click. Stop worrying about stamping and mailing checks and problems associated with manual payment methods. Solutions like NetSuite have become incredibly popular with the rise of cloud-based platforms. PayStand's NetSuite SuiteApp offers fee management controls and supports some of its most advanced features to deliver a truly enhanced payment experience.

With PayStand's NetSuite integration, you can improve cash flow, productivity, and more. It allows users to accept all major cards and take advantage of low transaction fees. This makes it the perfect choice for companies processing different payments over a short period. Keeping fees low is excellent for optimizing your accounting process for maximum efficiency.


NetSuite Payment Methods

There are several NetSuite payment methods. You can quickly pay with a NetSuite payment link, which leads to a secure portal to view invoices and pay bills. This is more efficient than sorting through piles of paper invoices or tracking each vendor by email. Accessing all your invoices in a centralized platform eases prompt payments. NetSuite payment processing also includes options for cash, cards, and checks. 

The platform's versatility is one of the reasons it has become widely used among so many businesses. 

To help users learn more about NetSuite payment methods and how to get the most out of the platform, Paystand offers a Best Practices kit outlining the NetSuite payment automation basics. Topics covered include: 

  • ERP tips 
  • Advanced shortcuts
  • How digitization transforms the accounting process
  • Choosing the right NetSuite solution for your organization
  • Some of the platform's best features.

PayStand's Best Practices kit is essential to get started with NetSuite. It can be especially helpful for choosing the right payment methods to help improve your accounting process. It also discusses how to create e-invoices and manage NetSuite payments with Paystand. With this guide, you'll be on your way to streamlining your billing process and paying your vendors faster than ever. You can also receive quicker payments. Automation eases the payment process and ensures you hit critical deadlines.


NetSuite Credit Card Transactions

Credit cards are one of many accepted payment methods for B2B Paystand transactions. They are easily trackable in NetSuite and can be used to generate audits and reports. Additionally, NetSuite credit card reconciliation can be accomplished through the platform. 

We recommend reconciling card statements occasionally to ensure accurate NetSuite records. You can manually reconcile your card statement or import your online bank statement.

PayStand's business model is uniquely compatible with NetSuite. It allows users to customize their AP process for the best results. The two platforms enable users to manage payments, collect refunds, and resolve disputes. You can also set reminders to stay on top of upcoming payment deadlines. This is an invaluable feature for those who manage complex accounting processes and extraional prompting to ensure they don't miss anything important.

Most importantly, Paystand's NetSuite integration enables AP process automation, saving time in the long run. While getting used to an automated system can be challenging, especially if you're used to old-fashioned ways, you'll soon find it's the tool you never knew you needed. Businesses automating the accounting process save time and reduce human errors arising when trying to do everything manually.

With PayStand's options for customization, you can choose how and when payments go through. Even though the platform is doing much of the work for you, you remain in control of the entire process. You can also access sandbox mode, allowing customizations and plugin previews before workflow implementation. This enables users to test and play around with features before using them, providing greater peace of mind.