Bank GL accounts must be setup before importing bank statements. (Also if bank statements are entered manually these bank accounts must be setup)
For each of the Bank Statements you wish to use with this SuiteApp, one Bank Statement Configuration record must be created.
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A Bank Statement Configuration must be created for each of the Bank accounts (NetSuite GL Accounts).
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For the following step you must have the Show Internal IDs preference enabled. If this preference is not enabled, go to Home > Set Preferences. Under General tab, Default section, mark Show Internal IDs. Click Save. |
CSV Configuration: This records tells Fast Four Bank Reconciliation how to interpret the csv file that you will import. Also some bank account-specific preferences can be set here.
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- Go to Setup > Bank Reconciliation Setup > Setup payment difference reasons first.
- Set your Payment diff threshold: based on a percentage or a fixed amount (absolute value).
- Select a payment difference reason for OVER or UNDER payments: if the potentially matched transaction differs within the set threshold, it will be matched, mark as paid and the difference will be captured in a newly created Journal Entry posted against the GL account set on the Payment Difference Reason’s record.
Auto application takes place on statement import or through Single value matching. Changing an automatically applied payment difference reason is possible through the popup of the statement itself.
Each Bank Account configuration can hold a different setup. The automation is supported for Open and Closed transactions.
Processing Preferences:
Payment Method: will set the payment method on the resulting bank transaction.
Create Journal instead of Customer Deposit: Check if a customer deposit should be created as journal instead of a customer deposit.
- Create Customer Payment instead of Customer Deposit: Determine your preferred transaction type to be created.
Create Vendor Pre-Payment as Journal: When applying a vendor without a GL account on the line.
- Create Journal instead of check: When applying a vendor and GL account on the line.
Based on above checkboxes, the fields Vendor Prepayment Holding Account, Default Payables Account, Default Receivables Account and Exempt Tax Code may become mandatory. Be sure to select values for the mandatory fields.
Defaults:
You may choose to select a default Department, Class and Location for this bank account.
The value selected here will appear on all payment transactions created by the tool.
- Process empty CSV files: Applicable to CSV statement formats only. If enabled, automatic generation of Bank Statements for empty files retrieved via the scheduled data retrieval tool will be allowed.
- Use booking/entry date instead of value date (CAMT/CODA files): Applicable to CAMT/CODA statement formats only. By default, the Bank Reconciliation SuiteApp will use the value date as the transaction date. If you would like to use the booking/entry date instead then check this checkbox. The transaction date will then be equal to the submission date to the bank instead of the actual processing date.
- Coda import preference: Applicable to CODA statement formats only. Define the data imported within a statement. There are three available options: Mainlines and the sublines, Mainlines or Sublines only.
- Counterparty mandatory (MT940): Applicable to MT940 statement formats only. This checkbox indicates if the Counterparty on the MT940 is mandatory or not. Transactions that do not contain the 86 tag will not be processed if this box is enabled.
- Import batch details:Applicable to CAMT.054 statement formats only. When this checkbox is enabled, the D-level of CAMT.054 statement will be imported as individual transaction lines. When disabled, the D-level of the CAMT.054 statement will be imported as one BATCH transaction line.
- When matching a closed transaction: Applicable to all statement formats. For more info, please refer to this link Only link the transaction or adjust the transaction data?
- Disable opening popup: If enabled then when selecting an entity Name on the statement's column, the pop up will not be triggered.
- Create Direct Debits when auto-matching on customer payment: When auto-matching on a customer payment, a direct debit reversal will be created.
- Process bank statement scheduled: When this checkbox is enabled the system will always process bank statements in a scheduled context. This setting is recommended if user events are deployed on the transactions the bank reconciliation SuiteApp creates.
- Use bank account from initiator as parsing identifier: Applicable to PAIN002 file formats only. When this option is enabled the Bank Reconciliation SuiteApp will use the Initiator's IBAN for parsing identifier.
- Overrule Journal Approval: Please check this option if you have any journal approval workflows in NetSuite.
Setup Additional Parameters & Fields:
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Click Save. Congratulations, you are ready to import bank statements!
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Please note that the most left column of a CSV file is column 0 |
| Field | Description |
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| Description column 1, 2 & 3 | Description Column 1, 2 and 3 are both used to collect possible invoice numbers, to match with open transactions. They are also displayed as memo. You may choose to only enter 1. If you also provide a value in Description Column 2, the values in these two columns are joined. The same applies for Description Column 3. |
| Remove Leading Zero's | If the description column contains leading zeros that should be removed, check this box. |
| Debit/Credit Column | Debit/Credit column is used when there is a specific column in the statement that specifies if the amount was debited or credited from the account. If not specified, Easy Bank Statements will look for negative and positive amounts. |
| Debit/Credit Identifier | Debit/Credit Identifier tells the tool what values to expect in the Debit/Credit column. When set to Separate Columns, the Debit column must be put in field 'Debit/Credit Column' and the Credit column must be put in field 'Amount'. Contact support@fastfour.com if the necessary values are not in this list. |
| Amount Column | Amount column is the column number that holds the amount. |
| Date Column | Date column is the column number that holds the date. |
| Tax Country | Tax Country determines which tax codes are accepted. |
| Default Tax Code | Default Tax Code is used when you are processing payments that do not have a bill or invoice. For example, payments that were done by debit card. Then the tax is automatically calculated, unless you change the tax code on the line. If you do not wish to have tax calculated, select an Exempt tax code. (usually E-XX, for example E-NL, or -Not Taxable-) |
| Has CSV Header Row | Check whether the first row of the CSV file is a header instead of transactional data. If this is the case make sure this checkbox is 'checked’. |
| Number Of Header Rows | If there are multiple header rows, enter the number of header rows here. If there is only 1, only checking the box will suffice. |
| Number Of Trailing Rows | If there are trailing rows in the csv file that should be excluded from the statement, enter the number here. Leave blank if there aren't any. |
| Statements Folder ID | Enter the internal ID of the folder used to store bank statement files. |
| CSV Date Format | Select the date format used in the CSV file. Raise a support case if the necessary values are not in this list. |
| Counter Party Column | Counter Party column should hold the column number for the Counter Party of the bank transaction. |
| Decimal Separator | Choose the amount decimal delimiter. If left blank, a dot is used. |
| CSV Delimiter | Choose the CSV delimiter. If left blank, a comma is used. |
| Additional Delimiter | Set of characters based on which description strings are separated and used in matching. When left blank, "\s,:;/." is used. |
| Disable Automatic Matching | 'Check' this box if automatic invoice/bill matching should not take place. |
| Match Transactions On | Mostly Invoice Number would be selected here. Sometimes, usually with e-commerce payment gateways, the sales order number is specified in the file. |
| Process Empty CSV | Check this to automatically generate Bank Statements for empty files retrieved via the scheduled data retrieval tool. |