What are Advanced Electronic Bank Payments?

Advanced electronic bank payments typically refer to sophisticated electronic payment methods and systems that enable businesses to execute various types of transactions with their banks electronically, often leveraging advanced technologies and automation capabilities. These payment methods go beyond traditional paper checks and basic electronic fund transfers (EFTs), offering enhanced features and functionalities to streamline payment processes, improve efficiency, and enhance security.

ZoneReconcile, a native NetSuite app, was built to handle advanced electronic bank payments in NetSuite. By simply uploading your bank statement or setting up a bank feed, ZoneReconcile will automatically create and match everything from bills and credits to prepayments, direct debits, and expense claims.