1. Accounting
  2. Banking
  3. Financial Institution Records
  4. Format Profile Creation
  5. Creating Format Profiles for Bank Reconciliation

Creating Format Profiles for Bank Reconciliation

Configure a format profile to automatically or manually import bank or credit card data for bank or credit card reconciliation.

Both manual and automatic import format profiles enable you to do the following:

Important:

Unless you are using the Bank Feeds SuiteApp, to avoid performance degradation you should not exceed the following limits:

  • 10,000 transactions for all bank data imports

  • 500 linked accounts for automatic imports

  • 2,500 linked accounts for manual imports

If an import is going to exceed the suggest limit of linked accounts, you should configure multiple format profiles to facilitate parallel imports.

For information on how many banking transactions you can import and how many accounts you can link using the Bank Feeds SuiteApp, see Limitations of Using the Bank Feeds SuiteApp.

To do the following procedure, you need the Financial Institution Records permission.

To create a format profile for bank reconciliation:

  1. Go to Setup > Accounting > Financial Institution > List.

    NetSuite displays the Financial Institutions page.

  2. Next to the financial institution record for which you want to add a format profile, click View.

    NetSuite displays the Financial Institution page.

  3. In the Format Profile: Configuration subtab, click Add.

    Important:

    You must be in View mode to enable the Add button. The button is not available in Edit mode.

    NetSuite displays the Format Profile page.

  4. In the Profile Name field, enter a name for your format profile. For example, Wells Fargo - BAI2.

  5. In the Description field, enter a description to help you identify this format profile.

  6. From the Profile Type dropdown list, select Bank Reconciliation. This profile type is the default.

    You cannot modify the profile type after you save.

  7. From the Connectivity Method dropdown list, select a Financial Institution Connectivity Plug-in or select Manual Import.

    For a plug-in to be available, you must create and upload one to NetSuite. For details, see Financial Institution Connectivity Plug-in Interface Overview.

    Alternatively, if you have installed the Auto Bank Statement Import (ABSI) SuiteApp, you can use the SFTP Connectivity Plug-in available in the list. For details about the SuiteApp, see Auto Bank Statement Import SuiteApp.

    Important:

    If the list contains a plug-in provisioned by the Bank Feeds SuiteApp, do not select it. If you try to select such a plug-in on a custom format profile, an error occurs when you try to save it.

  8. From the Transaction Parser list, select a parser.

    The Transaction Parser field is required. For a plug-in to be available, you must either create and upload one to NetSuite or use a plug-in provided by the Bank Statement Parsers SuiteApp.

    Important:

    If the list contains a plug-in provisioned by the Bank Feeds SuiteApp, do not select it. If you try to select such a plug-in on a custom format profile, an error occurs when you try to save it.

    For details on parser configuration, see Transaction Parser Configuration.

  9. If you selected a connectivity plug-in from the Connectivity Method list, do one of the following in the Connectivity Configuration subtab:

    If you selected Manual Import from the Connectivity Method list, this step is not applicable.

  10. Link financial institution accounts to corresponding accounts in NetSuite. For details, see Bank Account Linking.

    For a successful import, you need at least one active linked account.

  11. (Optional) Map custom bank codes to corresponding bank data types in NetSuite. For details, see Mapping Custom Bank Codes.

  12. (Optional) If parser configuration fields are available, configure your transaction parser. See Transaction Parser Configuration.

  13. Click Save.

    If the format profile is configured to connect to a financial institution and the save is successful:

    • NetSuite displays a progress message that an import process has begun. To view the processing status of your import, click Track your status See Banking Import History.

    • For any newly-linked accounts, NetSuite imports the last 60 calendar days of data. For any existing accounts, NetSuite imports any new data since the last successful import. If you are saving this format profile for the first time, NetSuite creates a daily import schedule. For more information, see Automatic Bank Data Import.

      Note:

      If your format profile contains any plug-in implementations that are not enabled in your account, the import process and initiation of the daily import schedule does not run. Select another plug-in or enable the selected plug-in. See Creating a New Plug-in Implementation.

    • If you are using the Intelligent Transaction Matching feature, NetSuite uses reconciliation rules to automatically match your imported data to account transactions. To view automatically-matched transactions, see Viewing Transactions To Be Submitted. To match imported bank lines that require manual matching, see Matching Bank Data.

    • If you are using the Automated Cash Application feature, you can automatically generate customer payments from your imported data and apply them to invoices. These generated payments are automatically matched and cleared in the system. See Generating Customer Payments.

    If you have configured the format profile for manual import, you must go to the Upload File page to import data. For details, see Manual Bank Data Import.

  14. Repeat these steps to create another Bank Reconciliation format profile.

    Tip:

    You can click on the hyperlinked financial institution name to go back to the financial institution record.

For details on the bank reconciliation process, see Bank Data Matching and Reconciliation. For information on the automated cash application process, see Automated Cash Application.

For details on banking-related permissions, see Permissions for Banking Features.

Related Topics

General Notices