1. Accounting
  2. Banking
  3. Financial Institution Records
  4. Format Profile Creation
  5. Creating Format Profiles for Bank Reconciliation

Creating Format Profiles for Bank Reconciliation

Configure a format profile to automatically or manually import bank or credit card data for bank or credit card reconciliation.

Both manual and automatic import format profiles enable you to do the following:

Important:

Unless you're using the Bank Feeds SuiteApp, to avoid performance degradation, don't exceed these limits:

  • 10,000 transactions for all bank data imports

  • 500 linked accounts for automatic imports

  • 2,500 linked accounts for manual imports

If an import will exceed the suggested limit for linked accounts, configure multiple format profiles for parallel imports.

For information about how many banking transactions you can import and how many accounts you can link using the Bank Feeds SuiteApp, see Limitations of Using the Bank Feeds SuiteApp.

To do the following procedure, you need the Financial Institution Records permission.

To create a format profile for bank reconciliation:

  1. Go to Setup > Accounting > Financial Institution > List.

    The Financial Institutions page appears.

  2. Next to the financial institution record for which you want to add a format profile, click View.

    The Financial Institution page appears.

  3. In the Format Profile: Configuration subtab, click Add.

    Important:

    You must be in View mode to enable the Add button. The button is not available in Edit mode.

    The Format Profile page appears.

  4. In the Profile Name field, enter a name for your format profile. For example, Wells Fargo - BAI2.

  5. In the Description field, enter a description to help you identify this format profile.

  6. From the Profile Type dropdown list, select Bank Reconciliation, which is the default profile type.

    You can't modify the profile type after you save.

  7. From the Connectivity Method dropdown list, select a Financial Institution Connectivity Plug-in or select Manual Import.

    For a plug-in to be available, you must create and upload one to NetSuite. For details, see Financial Institution Connectivity Plug-in Interface Overview.

    Alternatively, if you have installed the Auto Bank Statement Import (ABSI) SuiteApp, you can use the SFTP Connectivity Plug-in available in the list. For details about the SuiteApp, see Auto Bank Statement Import SuiteApp.

    Important:

    If the list contains a plug-in provisioned by the Bank Feeds SuiteApp, do not select it. If you try to select such a plug-in on a custom format profile, an error occurs when you try to save it.

  8. From the Transaction Parser list, select a parser.

    The Transaction Parser field is required. For a plug-in to be available, you must either create and upload one to NetSuite or use a plug-in provided by the Bank Statement Parsers SuiteApp.

    Important:

    If the list contains a plug-in provisioned by the Bank Feeds SuiteApp, do not select it. If you try to select such a plug-in on a custom format profile, an error occurs when you try to save it.

    For details on parser configuration, see Transaction Parser Configuration.

  9. If you selected a connectivity plug-in from the Connectivity Method list, do one of the following in the Connectivity Configuration subtab:

    If you selected Manual Import from the Connectivity Method list, this step is not applicable.

  10. Link financial institution accounts to corresponding accounts in NetSuite. For details, see Bank Account Linking.

    For a successful import, you'll need at least one active linked account.

  11. (Optional) From the Import Schedule subtab, set an automated bank transaction import schedule. An automated import schedule ensures timely bank data updates for connected accounts set up in your format profile. It also supports more efficient reconciliation processes. For more information, see Setting Up a Bank Import Schedule.

  12. (Optional) Map custom bank codes to corresponding bank data types in NetSuite. For details, see Mapping Custom Bank Codes.

  13. (Optional) If parser configuration fields are available, configure your transaction parser. See Transaction Parser Configuration.

  14. Click Save.

    If the format profile is configured to connect to a financial institution and the save is successful:

    • NetSuite displays a progress message that an import process has begun. To view the processing status of your import, click Track your status See Banking Import History.

    • For any newly-linked accounts, NetSuite imports the last 60 calendar days of data. You can change this if you use a connectivity plug-in and have set a different date in an Earliest Transaction Date for Import field on the Account Linking subtab in your format profile. NetSuite will then import based on the Earliest Transaction Date for Import instead. For any existing accounts, NetSuite imports any new data since the last successful import.

      Note:

      The Earliest Transaction Date for Import can't be edited for existing linkings after the initial import unless you change the linked account in NetSuite.

      Note:

      The following SuiteApps do not currently support configuring the earliest transaction date for imports. Instead, the date is fixed at 60 days prior to the current date. The related field and column do not appear in format profiles that use these SuiteApps:

      • Australia Bank Feeds

      • Auto Bank Statement Import

      • Brazil Banking Integration

      If you are saving this format profile for the first time, NetSuite creates an import schedule based on your format profile settings. Daily import is the default. You change the schedule using the Import Schedule subtab on your format profile. For more information, see Automatic Bank Data Import.

      Note:

      If your format profile contains plug-in implementations that aren't enabled in your account, the import process and initiation of the daily import schedule won't run. Select another plug-in, or enable the selected one. See Creating a New Plug-in Implementation.

    • If you are using a connectivity plug-in, an Update Imported Bank Data button will appear on your Format Profile and Match Bank Data pages. Use this button to request an immediate import of bank or expense data outside of your automated import schedule.

    • If you're using the Intelligent Transaction Matching feature, NetSuite uses reconciliation rules to automatically match your imported data to account transactions. To view automatically-matched transactions, see Viewing Transactions To Be Submitted. To match imported bank lines that require manual matching, see Matching Bank Data.

    • If you are using the Automated Cash Application feature, you can automatically generate customer payments from your imported data and apply them to invoices. These generated payments are automatically matched and cleared in the system. See Generating Customer Payments.

    If you have configured the format profile for manual import, you must go to the Upload File page to import data. For details, see Manual Bank Data Import.

  15. Repeat these steps to create another Bank Reconciliation format profile.

    Tip:

    You can click on the hyperlinked financial institution name to go back to the financial institution record.

For details on the bank reconciliation process, see Bank Data Matching and Reconciliation. For information about the automated cash application process, see Automated Cash Application.

For details on banking-related permissions, see Permissions for Banking Features.

Related Topics

General Notices