Automating Imports for Bank Reconciliation
If you have the Administrator role, you can use a Financial Institution Connectivity Plug-in to automate bank data imports for bank or credit card reconciliation.
When data is imported for bank or credit card reconciliation, NetSuite uses reconciliation rules to automatically match your imported bank lines to account transactions in NetSuite. All imported bank lines that cannot be matched by the system are available for manual matching on the Match Bank Data page. You can reconcile matched transactions on the Reconcile Account Statement page. For more information, see Bank Data Matching and Reconciliation.
All imported bank lines with a positive amount also appear and can be processed on the Automated Cash Application page. The Automated Cash Application feature enables you to automatically generate a batch of customer payments in NetSuite and apply them to open invoices. The generated customer payments are then automatically matched and cleared in the system. For details, see Automated Cash Application.
This section involves using a custom or standard connectivity plug-in in a format profile that you create. You can use either the standard SFTP Connectivity plug-in available through the Auto Bank Statement Import (ABSI) SuiteApp, or develop a custom plug-in. For more information on the ABSI SuiteApp, see Auto Bank Statement Import SuiteApp.
To avoid performance degradation, you should not configure a bank data import that exceeds 10,000 transactions and 500 linked accounts. If an import is going to exceed these thresholds, you should configure multiple format profiles to facilitate parallel imports.
If you want to use connectivity and parser plug-ins in format profiles provisioned by the Bank Feeds SuiteApp, see Bank Feeds SuiteApp. For information on how many banking transactions you can import and how many accounts you can link, see Limitations of Using the Bank Feeds SuiteApp.
To automate imports for bank reconciliation:
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Develop and upload a custom Financial Institution Connectivity Plug-in. For details, see Financial Institution Connectivity Plug-in. Alternatively, install the ABSI SuiteApp. See Installing Auto Bank Statement Import SuiteApp.
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Develop and upload a custom Financial Institution Parser Plug-in. For details, see Financial Institution Parser Plug-in. Alternatively, install the Bank Statement Parsers SuiteApp. See Installing the Bank Statement Parsers SuiteApp.
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Create a financial institution record. See Creating Financial Institution Records.
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Add a format profile to the financial institution record. See steps 1 - 3 in Creating Format Profiles for Bank Reconciliation.
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Configure the format profile to automate imports of bank or credit card data for matching and reconciliation:
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In the Profile Name field, enter a name for your format profile. For example, Wells Fargo - BAI2.
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In the Description field, enter a description to help you identify this format profile.
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From the Profile Type field dropdown, select Bank Reconciliation.
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From the Connectivity Method dropdown list, select the appropriate Financial Institution Connectivity Plug-in implementation.
If you installed the ABSI SuiteApp, select SFTP Connectivity.
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From the Transaction Parser list, select the appropriate custom or standard Financial Institution Parser Plug-in implementation.
For information about the available standard parser plug-ins, see Bank Statement Parsers SuiteApp.
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Use the subtabs to configure a connection to a financial institution, link accounts, map custom bank codes (optional), and configure your transaction parser (optional). See the following help topics:
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Click Save.
If the save is successful, NetSuite displays a progress message to notify you that a bank data import process has begun.
If you are saving this format profile for the first time, NetSuite creates a daily import schedule and requests to download the last 60 calendar days of available bank data from your financial institution. At each scheduled import, NetSuite imports new data from your financial institution into your accounts. If the data import fails, NetSuite requests data for up to seven previous calendar days.
If you are not saving this format profile for the first time, NetSuite imports new bank or credit card data from your existing accounts that are linked to corresponding general ledger accounts in NetSuite. For any newly-linked accounts, NetSuite imports the last 60 calendar days of data.
Note:There are cases where an import is not initiated. For example, NetSuite cannot import data from the same format profile twice within a 60-minute period.
To view the processing status of your import, click Track your status.
NetSuite displays the Banking Import History page. This page provides import statuses and troubleshooting information, including account-specific failure reasons and which accounts are affected. For more information, see Banking Import History.
To match and reconcile data, see Bank Data Matching and Reconciliation.
To automatically generate customer payments from imported bank lines, apply the payments to invoices, and match and submit the payments for reconciliation, see Generating Customer Payments.
For more information on the overall process for creating format profiles that use the Bank Reconciliation profile type, see Creating Format Profiles for Bank Reconciliation.
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