l. Installation of Bank Feeds
Please check if your financial institution is bank feeds supported. Click HERE
Make sure that you have setup the following on your account.
1. Setup > Company > Enable Features > SuiteCloud > Scripting
- Client SuiteScript
- Server Suite script
- Custom Record
2. Go to SuiteApps tab
- From the listed SuiteApps, search Bank Feeds SuiteApp in the Search Apps field
- Click the Bank Feeds SuiteApp title.
- Navigate to the top right area of the Bank Feeds SuiteApp details page and click Install.
3. Once installation is complete go to:
- Setup > Accounting > Financial Institution > List - you should see bank feeds on the list if this has been installed
- Click View
- Format Profile Configuration > Select Connect to Accounts in Other Countries (Australia, New Zealand and Some Parts of Asia to NetSuite)
- Click Edit
- Select Connectivity Configuration > Connect New Institution
- Popup will appear
- Type your Bank
- And set it up, you need you Internet banking access (login and password)
- Continue the process - Authorisation process
- Note: The transactions will be downloaded, were you can rebuild or delete. It will download 60 days worth of data, just exclude on the reconciliation if some of these transactions on the uploaded file has been reconciled. You can use the filter dates on top of the Match Bank Data page.
- Go back to Connectivity Configuration, here you will see your accounts will show up on the list
- Click to Account Linking tab
- Select the account/GL that you would like to link this bank
- Click Track your status link
ll. Once the bank has been linked to your bank/credit card GL account, you can now do the matching of bank data.
- Make sure that you have set up your bank account via List > Accounting > Accounts (check the USE MATCH BANK DATA AND RECONCILE ACCOUNT STATEMENT PAGES box)
- Matching your bank data via Transaction > Bank > Match Bank Data (match the bank entry with its corresponding transaction in NetSuite/book entry)
- Reconcile via Transaction > Bank > Reconcile Account Statement (reconcile the entries you have matched in # 3.)
- Check the reconciliation report via Reports > Banking/Budgeting> Reconciliation