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Introduction
Import setup
Bank Account configurations must be setup prior import of bank statements. In the event of handling high volume statements, it is recommended to create a Multiple Statement Configuration. The setup of the Multi configuration provides the option to split one single statement file into smaller chunks of bank statements.
The parameter that permits this behavior is the “Transactions per statement“ field. Recommended value to store as “Transactions per statement“ is 300. A simple example is a statement file of 5000 statement transaction lines. If uploaded using the Multiple statement configuration, the system will split the statement into 17 single bank statements, each of them holding up to 300 transactions. Exception is the last statement, which will hold 200 transactions. If imported without a defined value of TRANSACTIONS PER STATEMENT, the upload can result into “Execution time” error.
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When the configuration is completed, two directions can be taken to import a statement:
Manual import - Import a statement and
Auto-processing of statements - Auto processing Bank Statement files that are in the file cabinet
Recommended approach is to configure auto-processing of bank statements through the File Cabinet. Multiple set of Folders can be created to house the statements subject to be processed (imported).
Items to take into consideration:
Import statement only when all invoices are created in NetSuite
Split the statements by defined number of lines per statement
Investigate if the lines in statements can be grouped into a batch
Matching setup
Multiple matching options are available within the ZoneReconciliation tool:
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Before diving into using them all simultaneously, be aware the following items:
If all matching options are enabled, the processing of the matching algorithm will be slowed down
What is the frame in which you would like to match transactions in (30/60 days prior)?
Are you handling open, or closed transactions?
Make sure there is a unique identifier on the invoice that is also available in the statement file
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