Have You Reviewed the New NetSuite ABSI Functionality?

Bank Import small for bankingThe NetSuite ABSI SuiteApp uses the latest version of the SFTP Connectivity Plug-in to automatically retrieve and upload bank and credit card statement files into NetSuite daily. This added feature enables business users to concentrate more on reconciling the bank and credit card transactions between NetSuite and your financial institutions.

The ABSI SuiteApp enables you to:

  • Securely connect to your financial institutions through the enhanced SFTP connectivity configuration.
  • Options to either automate or manually trigger your SFTP connection to fetch the statement files from your financial institutions.
Why you should consider it?
  • Registered in the NetSuite SuiteApp Marketplace
  • Free to download and utilize
  • ABSI directly connects to the server of a financial institution through the SSH File Transfer Protocol (SFTP).
  • SFTP is a global and widely accepted industry standard for transferring bank statements
Simplify and significantly accelerate Accounts Receivable (AR) processes, by reconciling your bank statements as you go, instead of at end of month or period. Save time by not having to go to your bank’s online portal to download and import statements into NetSuite manually. Use the new ABSI SuiteApp to automate your banking steps with NetSuite.

  • Straightforward configuration with built-in NetSuite Financial institution plug-in.
  • Automatic daily updated bank and credit card balances
  • Daily import of bank and card statement data
  • Triggers the auto-matching engine upon import
  • Included dashboard portlets for bank reconciliations
  • Simplify bank reconciliation process

How it functions?

After the ABSI SuiteApp has been setup and configured, it automatically connects to your bank’s server to enable secure retrieval of bank and credit card statement files and imports them into NetSuite.
Netsuite Banking Statement ABSI

Financial Institution plug-in is used to interpret the automatically imported bank statement files.
NS Bank Connectivity Configuration

The imported bank statement is then viewable within NetSuite via the Imported Statement List page (Transactions > Bank > Banking Import History). The transaction Details will populate the Match Bank Data page for reconciliation activity.
NetSuite Bank Upload form

If GSI can help with any of your NetSuite needs, please visit NetSuite Services.