The ZP Account Mapping Profile contains information about the account your payment provider uses to deposit payouts and which General Ledger in NetSuite records those payouts.
More specifically, this record allows you to to configure how payment settlements (Payouts) and fees are recorded to your GL in NetSuite.
You may have several Account Mapping Profiles related to a single Payment Profile, depending on how you have configured your depository accounts (Payout Accounts) with your payment provider. For example, if you have a different Payout Account for each currency configured in your Payment Provider - you would create a ZP Account Mapping Profile for each of those accounts.
Account Mapping Profile Fields
These preferences can be updated at any time under Setup > Zone Payments Setup > ZP Account Mapping Profile. The available settings and their functionality are listed below. More information about the way ZonePayments processes Payouts can be found under Payout and Deposit Handling.
Inactive: Determines if the profile is active and in-use or not.
ZP Payment Profile: This is the Payment Profile that is associated with this Account Mapping Profile. An Account Mapping Profile can only be associated with a single Payment Profile.
Bank Account For Deposits: This field specifies the NetSuite bank account where deposits/payouts made to this account are recorded.
Fees Account: This is the expense account to be used to record fees associated with processing payments through your payment provider.
Provider Account ID: This is the Account ID associated with your Payout Account in your Payment Provider. See ‘Locating Your Provider Account ID’ for more information on how to locate an Account ID from your Payment Provider.
Refund Fees Account: This is the expense account to be used to record fees associated with processing refunds through your payment provider. If no account is selected, it will default to use the account selected in the Fees Account field. Refund Fees are recorded in NetSuite on Deposits under the ‘Other Deposits’ section.
Adjustment Fees Account: This is the expense account to be used to record fees associated with processing adjustments through your payment provider. (Stripe ‘dispute’ fees are recorded as adjustment fees.) If no account is selected, it will default to use the account selected in the Fees Account field. Adjustment Fees are recorded on Deposits under the ‘Cash Back’ section.
Application Fees Account: This is the expense account to be used to record fees associated with the use of your payment service provider’s platform (i.e. stripe_fee). If no account is selected, it will default to use the account selected in the Fees Account field. Application Fees are recorded on Deposits under the ‘Cash Back’ section.
Creating an Account Mapping Profile
The creation of Account Mapping Profiles is part of the initial ZonePayments setup. To create additional Account Mapping Profiles, visit the following article on how to Create an Account Mapping Profile.
Note: Payouts will not process in NetSuite if the Provider Account ID is not correct and complete. See Payouts.
Account Mapping Profiles FAQ
Q: What is a payout?
A. “Payout” is a term often used by third-party payment providers to describe the action of transferring funds collected in their system to the provider account user’s bank account.
Q: Why do I need a different Account Mapping Profile for each currency? Is this only required if I want to accept payments for Invoices that may be in different currencies?
A. Multiple Account Mapping Profiles are only necessary if you have more than one bank account configured in your payment provider to receive payouts. Your provider account must be configured for any currencies in which you want to transact.
Typically, your payment provider will payout to a domestic bank account in a local settlement currency. When invoices are presented and paid in a different currency, your payment provider converts that to the settlement currency and deposits it into your bank account.
Where your payment provider allows, you may have an additional, non-domestic bank account to receive payouts. This allows you to receive and settle funds in an alternative currency without converting.
Q. Can I use Account Mapping Profiles for different Payment Profiles, or are they Payment Profile specific?
A. Account Mapping Profiles are Payment Profile specific. They provide details about how payouts in the provider account are recorded as deposits in NetSuite, and each provider account is associated with a specific Payment Profile.