Configure a format profile to automatically or manually import bank or credit card data for the bank or credit card reconciliation.
- Format Profile for Automatic Import– Uses a connectivity plug-in and transaction parser to configure a direct connection to a financial institution to retrieve bank data automatically. We can use standard plug-ins available through the Bank Feeds SuiteApp. Alternatively, we can use custom plug-ins built using the Financial Institution Connectivity Plug-in and Financial Institution Parser Plug-in interfaces.
- Format Profile for Manual Import– Uses a transaction parser to manually import a bank file we have downloaded from a financial institution.
Both manual and automatic import format profiles enable us to do the following:
- Link financial institution accounts to corresponding accounts in NetSuite
- Map custom bank codes to corresponding bank data types
- Configure a parser plug-in, if parser configuration fields are available
Important:
Unless we are using the Bank Feeds SuiteApp, to avoid performance degradation we should not exceed the following 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 is going to exceed the suggested limit of linked accounts, we should configure multiple format profiles to facilitate parallel imports.
For information on how many banking transactions we can import and how many accounts we can link using the Bank Feeds SuiteApp, see Limitations of Using Bank Feeds SuiteApp.
To do the following procedure, we need the Financial Institution Records permission.
To create a format profile for bank reconciliation:
- Go to Setup > Accounting > Financial Institution > List.NetSuite displays the Financial Institutions page.
- Next to the financial institution record for which we want to add a format profile, click View.NetSuite displays the Financial Institution page.
- In the Format Profile: Configuration subtab, click Add.
- In the Profile Name field, enter a name for your format profile. For example, Wells Fargo – BAI2.
- In the Description field, enter a description to help us identify this format profile.
- From the Profile Type dropdown list, select Bank Reconciliation. This profile type is the default. We cannot modify the profile type after we save it.
- From the Connectivity Method dropdown list, select a Financial Institution Connectivity Plug-in or select Manual Import. For a plug-in to be available, we must create and upload one to NetSuite.Alternatively, if we have installed the Auto Bank Statement Import (ABSI) SuiteApp, we can use the SFTP Connectivity Plug-in available in the list.
- From the Transaction Parser list, select a parser.
- If we selected a connectivity plug-in from the Connectivity Method list, do one of the following in the Connectivity Configuration subtab:
- If we selected a Financial Institution Connectivity Plug-in, configure a direct connection to a financial institution.
- If we selected an SFTP Connectivity Plug-in, configure a connection using an SFTP protocol. If you selected Manual Import from the Connectivity Method list, this step is not applicable.
- Link financial institution accounts to corresponding accounts in NetSuite. For a successful import, we need at least one active linked account.
- (Optional) Map custom bank codes to corresponding bank data types in NetSuite.
- (Optional) If parser configuration fields are available, configure our transaction parser.
- 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 our import, click Track Our status.
- For any newly-linked accounts, NetSuite imports the last 60 calendar days of data. For any existing accounts, NetSuite imports any new data since the last successful import. If you are saving this format profile for the first time, NetSuite creates a daily import schedule. Note: If our format profile contains any plug-in implementations that are not enabled in your account, the import process and initiation of the daily import schedule do not run. Select another plug-in or enable the selected plug-in.
- If we are using the Intelligent Transaction Matching feature, NetSuite uses reconciliation rules to automatically match our imported data to account transactions.
- If we are using the Automated Cash Application feature, we 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. If you have configured the format profile for manual import, you must go to the Upload File page to import data.
- 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.