Banking SuiteApps

This release note was updated June 24, 2024.

Following is the 2024.1 banking enhancement to SuiteApps:

• Australia Bank Feeds Enhancements

• Permission Update for Bank Statement Parsers Custom Records

• Payment Automation Enhancements

Australia Bank Feeds Enhancements

Australia Bank Feeds SuiteApp now includes the following enhancements:

• Australia Bank Feeds version 2.0.4:

  • Bank accounts can now be linked to GL accounts of type Credit Card with a currency of AUD.

  • You now have the option to receive or not receive an email notification for every bank data import.

    Previously, an email notification is automatically sent every two hours from 8:00 AM to 2:00 PM AEST.

  • Business disclosure agreement is now available as a new method to import bank data. This method is especially useful if you do not want to avail of services from a trusted adviser.

  • You can now remove bank accounts from your bank feeds and exclude them from any bank data import.

• Australia Bank Feeds version 2.0.3:

  • Foreign currency is now supported depending on the connection used when importing bank data.

    • Bank Data Imported Using a Trusted Adviser – If a bank account is available for selection, the correct foreign currency is displayed.

    • Bank Data Imported Using Direct Data Access – You must have a numeric account number. Support for foreign currency is limited.

  • Addition of two new columns in the Bank Accounts subtab.

    • Status Reason – This column displays the reason for any bank connection problems per bank account.

    • Days to Retrieve – This column lets you specify the number of days worth of bank data to import. You can either set a default number of days for all accounts under a bank or set the number of days for each of the accounts under a bank. The default number of days worth of bank data to import is seven days.

  • The SuiteApp now supports both OneWorld and non-OneWorld accounts.

For more information, see Australia Bank Feeds SuiteApp.

Permission Update for Bank Statement Parsers Custom Records

The Bank Statement Parsers SuiteApp version 24.1.0 includes enhancements related to additional permissions required to access custom records. The additional permissions ensure that appropriate access levels are in place for custom records used by the SuiteApp. Administrators can assign the additional permissions and access levels to custom roles.

For a complete list of the updated permissions for roles, see Roles and Permissions for Bank Statement Parsers.

Payment Automation Enhancements

The Payment Automation SuiteApp version 4.0 includes the following new features and enhancements:

• Support for the Multi-Subsidiary Feature

  The Payment Automation SuiteApp now supports multiple subsidiaries. If you have a OneWorld account and have multiple US subsidiaries, you can now apply for HSBC accounts in each US subsidiary and can process payments from each US subsidiary.

• Vendor Prepayment Support

  You can now create and process vendor prepayments through the Payment Automation SuiteApp.

• Payment Status Tracking

  The Bill Payment record now includes a visual status tracker which you can use to check the status of the payments.

• Automation of recording of Monthly fees and charges

  Previously, NetSuite automated the process of recording an auto-funding request to pay for the monthly invoice fees of HSBC. In the current release, the recording of the payment of transaction fees is now automated as well. This new automation will save more time, allowing you to focus on other important tasks.

• Ability to Reprocess Payments

  On rare occasions, payments to vendors end up with an ACH Payment Return or Data Error status. In the current release, users can now reprocess these payments. You no longer need to void the payment and re-initiate it manually. In addition, no new funding request are created for reprocessed payments; existing funds at the HSBC Online Account are used for the reprocessed payments. Reprocessed payments are automatically sent to HSBC for processing.

• Additional enhancements in this release include:

  • Prevention of withdrawal request submission if the total withdrawal requests for the day already exceeds the current HSBC balance.

  • Ability to designate email recipients to receive all notifications from the Payment Automation SuiteApp, such as reminder email.

  • A new email notification alerts users when payments are delayed for processing due to errors. Payments with Failed, Data Error, and ACH Payment Return statuses are included.

  • Renaming of Billing Information under SuiteBanking > Setup to Account Information.

  • Enhancements to the Vendors dashboard. The following columns have been re-arranged and renamed:

    • Approved Vendors (formerly known as SuiteBanking Vendors)

    • Vendors Pending Approval

    • Eligible Vendors

  • Enhancements to the Preference record now allow users to set up different preferences in each subsidiary in which they process payments.

For the Payment Automation SuiteApp documentation, see Payment Automation SuiteApp.

General Notices