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New To NetSuite | Learn how to setup Automatic Bank Data Import

edited Feb 6, 2024 8:10PM in Basic Accounting 1 comment

The Automatic Bank Data Import could be processed in NetSuite in several ways. Users have the option to select either the Bank Feeds SuiteApp or Auto Bank Statement Import (ABSI). To automate bank data imports, NetSuite is using Financial Institution Connectivity Plug-In. Not all banks are using the same Connectivity Plug-In. Due to this, NetSuite developed two types of SuiteApp used for Automatic Bank Data Import.

1. The Bank Feeds SuiteApp automates the transfer of your bank data from your financial institution accounts into NetSuite. The SuiteApp uses the Financial Institution Connectivity Plug-In and an authorized account information service provider to securely access online financial institution data.

Katerina Winklerova

Basic Accounting/ OTC/PTP Guru

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