All three of these methods below use the Nolan Advanced Bank Reconciliation (ABR) and NetSuite:
This is the simplest of the three options. You can download and import one statement from your bank with many accounts at one time. Supports BAI and most CSV file formats with its Import Definition mapping capabilities.
Works for: Bank statements, credit cards, credit card gateways, and PayPal.
Best for: Clients who don’t mind the manual method. Most affordable option.
Price: Included in your product purchase.
Benefit: Cost effective.
This is also known as statement direct and it is a direct integration from your bank. The bank reconciliation process is fully automated so your bank account in NetSuite is always shown up to date.
If you would like your bank statements automatically imported and transactions reconciled directly to the General Ledger, then look no further. This can help you save hours of valuable resource.
Works for: Bank statements from supported banks URL.
Best for: Clients that have a large number of bank accounts and want to eliminate the need to manually download from the bank every time.
Price: There is an additional charge and set-up fee for this.
Benefit: Hands free import and auto-matching of transactions.
Nolan uses your NetSuite file cabinet to automatically pull your bank transactions into the bank reconcile screen.
Using your bank’s SFTP and a third party integration tool, we can automate and schedule the receipt of your bank statements into the NetSuite file cabinet. With the file cabinet method, we can either receive a rich CSV or BAI file from your bank. The advanced integration has all the benefits of the Intermediate Integration and more. It can bring in complex files with BAI or transaction type codes supporting rich auto-matching and auto-posting rules.
Works for: Bank statements from any bank.
Best for: Clients that have high volumes of transaction in their banks and need sophisticated matching and/or a desire for auto-posting of transactions. It is a hands-free integration that can support complex matching requirements and sophisticated auto-posting using ABR’s template feature.
Price: There is an additional recurring charge and set-up fee for this.
Benefit: Greatest level of automation.
If you’re interested in exploring any of these tools, please contact us at: email@example.com.
By Kim Haythornthwaite, General Manager, Nolan Business Solutions, an international solution provider of automation tools for Microsoft Dynamics GP to help Accounting Departments speed up their close.