Over the years we have been asked by many users if there is a way to auto import banking data or to help them streamline matching transactions from corporate credit cards. Until now it would have been either somewhat complicated and limited by support of your financial institution or even impossible.
As of Netsuite release 2020.1 there is a newly available SuiteApp called Bank Feeds that makes this process much easier on your accounting team. After installing the Bank Feeds app you can create connections to most banks and credit card institutions (only supported in the US at the moment). After connecting your banks and associating them with your existing accounts transactions up to 60 days ago will be imported for matching and refreshed every day. You then use the Match Bank Data page in Netsuite and you’ll see all of the imported transactions.
This addition also makes the Account Reconciliation Portlet more useful as it now shows the number of items to be matched.
The following SuiteAnswer is very helpful in full depth explanation of how to install and setup the bundle. https://netsuite.custhelp.com/app/answers/detail/a_id/90219/kw/bank%20feeds
Of course, there is far more than can be covered here and this doesn’t cover all use cases and still won’t help you mass generate transactions. For more information on solutions, we invite you to get in touch!