NetSuite Bank Feeds is an integrated solution that allows businesses to quickly and easily connect their bank accounts to their NetSuite account. With NetSuite Bank Feeds, businesses can easily update and reconcile their bank transactions, track cash flow, and have visibility into their financials. This solution helps businesses save time and money by automating the process of downloading and reconciling transactions from their banks. Additionally, businesses can use the Bank Feeds Dashboard to view their current and past bank transactions in real-time, allowing them to make more informed decisions.
The following steps outline the process for configuring a bank feeds in NetSuite:
1. Log in to your NetSuite account and select “Setup” from the left-hand menu.
2. Select “Bank Accounts” from the list of options.
3. Click the “Add New Bank Account” button.
4. Select the bank from which you wish to download the bank feed.
5. Enter the credentials for the bank account (username, password, etc.).
6. Enter the bank account number and routing number.
7. Select the type of account (e.g., checking or savings).
8. Enter the starting balance for the account.
9. Select the default currency for the account.
10. Select the frequency with which you wish to download the bank feed.
11. Enter any additional information needed to complete the setup.
12. Click the “Save” button to save the bank account.
13. Repeat the process for each of the bank accounts you wish to integrate with NetSuite.
14. Once all bank accounts have been added, click on the “Bank Feeds” tab to view the list of bank feeds.
15. Select the bank account for which you wish to download the bank feed.
16. Click the “Download” button to begin downloading the bank feed.
17. Once the download is complete, the bank feed will be added to your NetSuite account.
18. You can now view and work with the bank feed within NetSuite.