The Bank Feeds SuiteApp automates the transfer of your bank data from your financial institution accounts into NetSuite. The Suite App uses the Financial Institution Connectivity Plug-In and an authorized account information service provider to securely access online financial institution data. The SuiteApp retrieves bank data daily to ensure that everything in your bank account is reflected in NetSuite. And then, it imports the data into your account to aid with the bank reconciliation process. This process eliminates the manual effort of importing and matching your banking data in NetSuite.
Connect NetSuite to multiple financial institutions that operate in the following countries:
Australia
Asia (Hong Kong, Indonesia, Malaysia, Philippines, Singapore, and Thailand)
Europe
Oceania (New Zealand)
North America (Canada and the United States)
Prerequisites
Before you install the Bank Feeds SuiteApp, go to Setup > Company > Setup Tasks > Enable Features, and then click the SuiteCloud tab. Make sure that the following features are enabled on your account:
Custom Records
Client SuiteScript
Server SuiteScript
Before using the SuiteApp, make sure that the bank accounts that you want to connect and set up for bank feeds are registered for online banking.
Important Things to Note:
Before setting up your bank connection, you may want to contact your financial institution to ensure your bank or credit card account is authorized for a bank feed connection. NetSuite imports posted transactions only. The system does not import any pending transactions not yet cleared for posting by your financial institution. Posting and availability of transactions for importing may vary depending on your financial institution. Some transactions may be available on your financial institution’s website but are not yet allowed for downloading until they are completely posted in your account.
If there are missing transactions, wait at least 24 hours in case your financial institution posting schedule and your time zone do not match. For Other Countries’ bank feeds integration (Asia, Australia, and New Zealand), some financial institutions have different pending transaction configurations. To avoid duplicate transactions from these financial institutions, NetSuite’s AISP has a waiting period of 3 – 4 days before updating the transaction status to Posted. This action may result in delays in bank transaction import.