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Bank Feeds and Banking Improvements

edited Apr 1, 2020 9:27AM in Ask A Guru 1 comment

Introducing the new NetSuite Banking Feature that will aid in making the reconciliation of your transactions even more convenient - the Bank Feeds SuiteApp.

1. It automates the upload of your Bank and Credit Card Data directly from your Bank or Financial Institution.

2. It utilizes the latest financial institution connectivity plug-in

3. It uses a third-party data aggregation service to access online financial institution websites

Note: The banks and financial institutions available are limited to North America

Here are the over-the-top benefits when using this SuiteApp:

1. It will conveniently connect to different financial institutions

2. It automatically imports the bank data overnight. Hence, the bank account balances will be updated daily. This will be helpful in forecasting cash flow and understand cash position.

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