Have You Reviewed the New NetSuite ABSI Functionality?
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.
- 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
- 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.
Financial Institution plug-in is used to interpret the automatically imported bank statement files.
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.
If GSI can help with any of your NetSuite needs, please visit NetSuite Services.