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does anyone has installed Bank feeds suiteapp with...
# accounting
r
does anyone has installed Bank feeds suiteapp with north american bank and how is your experience
d
We have and we ran into some Network issues with the 3rd party provider not being able to connect to the bank. We setup a case with Netsuite and they resolved it in a week. However, the only benefit from this is the transactions sync into Netsuite everyday but still no options to have transactions automatically generate based on MCC codes/other rules.
r
@Daanish A Thank you for the information. Just wondering any idea what is this transaction code mapping.
d
Banks have their specific codes if it is an intra-bank transfer or if it is an external payment. Transaction Code Mapping allows us to determine the type of transactions (bank transfer, etc.) and to either include/exclude such transactions.
e
I also did one installation where we pulled in to Canadian TD Bank... worked a charm. will be doing a second client with National Bank of Canada later this month. If you want to achieve near daily bank reconciliation and a better cash management position, this is awesome!
r
@EldonN @Daanish A Thank you for your reply. As per NS Suitesanswer: The first time the format profile is saved: • NetSuite requests to download the last 60 calendar days of available bank data from your financial institution into NetSuite.
Company does not have sandbox account so I need to import the data on Production account. Just wondering if there is any issue with 60 days of downloaded data. Does this download trigger anything in NS which might lead to automatic reconciliation or any mess it will create
@EldonN Just wondering if there is any dummy account with TD bank to set up with connection and data import or you used the real account.
e
We used the real login details.
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d
You won't need to worry about syncing into Sandbox as this is just the statement pull and will not impact your transactions. The latest Netsuite release also allows you to exclude transactions from matching (unlike the older version) so you don't have to worry about any GL impact from pulling prior period bank data.
r
@Daanish A So technically it is just statement pull, nothing much more and accountant team will do rest of the work manually.
d
Correct, they will still need to match transactions (if matching rules aren't picking up everything) and will need to add new deposits/JEs if those transactions are not already in the system
r
@Daanish A Thank you.
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@EldonN Just wondering once the format profile is set up, how you schedule the daily connectivity with the bank
e
You don’t schedule. It “just happens”. For me at 5am PST each day. I think you actually don’t have any control over that.
r
@EldonN Thank you.
@EldonN Just wondering to configure for National Bank of Canada, are you going to use existing Link Bank account profile which gets installed with the Bank Feed app as to create new Format profile we need to implement as per NS
Even if the Bank Feeds Connectivity plug-in provided by the SuiteApp is available in the list, do not select it. If you try to select the plug-in on a custom format profile, an error occurs when you try to save it.
@Daanish A
e
@rajneesh kumar I haven’t done the NBC connection yet. Probably in a week or two. Will report back on my experience
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r
@EldonN Thank you.
d
Thanks for the headsup @rajneesh kumar. I'll be sure to avoid the Connectivity plug-in. Good luck!
r
@Daanish A @EldonN Is it possible to delete the account from Account Mapping. I have used my personal login details and want to delete these accounts from Account Mapping.
@Daanish A @EldonN I have found the way to remove the account from Account mapping. Basically you need to login to your bank whose account you want to remove and from there just unlink it by removing the trash.
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d
Correct, we used a pseudo bank account to test this as well so you are right on the process!
r
@Daanish A thank you
@Daanish A @EldonN Good Morning. Just wondering when Bank Feed app daily schedule work. Is it standard 5 AM PST or it depends on the timezone set on the NS account .
k
Just installed the Bank Feeds SuiteApp: the daily schedule appears to be 9:52AM EDT for us, so around 6:52 PDT.
Did anyone have trouble with the 60 day initial import? No activity was imported on our initial import.
e
Interesting that the timeframe is so inconsistent. My experience was with a single client. My next one will be MDT. But that is still pending
r
Mine is PST. They got it 6 AM PST.
@EldonN Just checking with you if there is any issue with Today's import. Email i got, NetSuite has successfully imported 0 transactions from your bank statement file but when i do not see any file in NS account with empty transaction.
e
I’m no longer in involved with my last client. So I can’t say about today’s import. Sorry
r
@EldonN Thank you.
d
This has been the first time we installed Bank Feed and it had issues initially so we got had Netsuite Support walk us through the setup and the initial load had no issues. Thereafter, the sync tends to disconnect and we have to reconnect by logging in. Hope this helps!
r
@Daanish A so you have to login again to all the mapped accounts in case sync tends to disconnect
d
Correct; we've requested this to be looked into already but it looks like the issue is with the 3rd party connecting system which isn't in Netsuite's control
k
@Daanish A do you receive a notice of some sort when you become disconnected, or do you simply see 0 imported transactions for the day?
r
@Kyle W notice 0 imported transactions
d
^^ correct, we see 0 imported transactions. We use Silicon Valley Bank and support mentioned this is a known issue with SVB so it could be bank specific from my understanding
k
Thank you, I think we might be seeing this with Comerica Bank as well.
r
@Kyle W @Daanish A @EldonN I am now using 2 different banks but bank feeds connectivity file download 7 days of data
d
Thank you for the update! We've decided not to use this feature until we're able to setup rules based on MCC codes to automatically generate transactions. The amount of admin time we're putting into this far exceeds the time saving from doing an .ofx file upload on a weekly basis. 🙂
r
@Daanish A I agree. This app is not working as expected as there are many weird scenarios when multiple banks are configured. I will wait for next release to see if it improves.
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@Erica LaBarre read this thread about bank app
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