Bank Import Schedules in NetSuite

Set up automated bank transaction import schedules for efficient reconciliation in NetSuite by configuring time, frequency, and time zone preferences.

Overview

Starting with an automated bank import schedule can greatly enhance the efficiency and accuracy of your bank reconciliation processes in NetSuite. This functionality allows you to automate the importation of bank transactions from financial institutions, ensuring timely updates to your bank data.

Step-by-Step Configuration

Access Financial Institution Records: Go to Setup > Accounting > Financial Institution > List. Select an existing record or create a new one if needed.
Create or Select a Format Profile: Navigate to the Format Profile: Configuration subtab, and either select an existing profile or click Add to create one. Set the Profile Type to 'Bank Reconciliation.'
Define Connectivity: Choose a connectivity method via a plug-in.
Link Accounts: On the Account Linking subtab, select and link one or more GL accounts. This step is mandatory to activate scheduling features.
Set Import Schedule: Move to the Import Schedule subtab. Default values are:
- Unit of Time: Day
- Frequency: 1 day
- Import Time: Randomized between 4:00 and 7:00 AM Pacific Time
Save Your Configuration: Ensure all parameters are either fully filled or left blank to adopt defaults. Click Save.

Note:

Transactions will not be imported until the specified 'Earliest Transaction Date for Import.'
If using specific SuiteApps like Australia Bank Feeds, this date is set 60 days before the current date and cannot be changed.
The import schedule adheres to the chosen time zone, while the last successful import time is shown according to your local time.

Who This Affects

Administrators managing bank reconciliations
Finance Teams automating transaction updates
Accountants responsible for data integrity and reconciliation

Key Takeaways

Automate bank imports to streamline reconciliation.
Mandatory account linkage is required to activate scheduling.
Time and frequency configurations default unless specified.
SuiteApp users have a fixed import date setting.
Import times adhere to chosen time zones.

Frequently Asked Questions (4)

What profile type is required to set up an automated bank transaction import schedule in NetSuite?

The profile type must be set to 'Bank Reconciliation' to set up an automated bank transaction import schedule in NetSuite.

Are there any specific configuration steps required after linking bank accounts for import scheduling?

Yes, after linking bank accounts, you must configure the scheduling parameters on the Import Schedule subtab, ensuring all fields are fully completed to avoid errors.

How does the time zone setting affect bank transaction import schedules?

The import time uses the selected time zone set during the schedule, not the system's default time zone. This affects how import logs are reviewed and ensures the import data reflects the correct scheduled time.

What happens if some fields in the Import Schedule subtab are left partially completed?

If fields under the Import Schedule subtab are partially completed, it can lead to errors. All fields must be fully filled or blank for the schedule to function correctly.