Hello, One of our clients wants a single account on NetSuite 'Cash at Bank' although the clients work with 3 physical banks in USA. His logic is that the ERP should not have a bank account in COA for every physical bank. Its the first time I am encountering this request. Based on my experience, I am skeptical on the impacts for reconciliation/EFT etc. Whats the best approach and is that request feasible to start with ? #C29HKGM6J #Bank #COA

explain to him that the best practice is to have an account per physical bank. if he really wants to create a single bank account in the chart of account, he will have to adapt the EFT format dynamically according to the physical bank account (if the 3 banks are different) For reconciliation it will therefore be necessary to import/configure bank feed so that everything goes into the same gl bank account. But it would be really complicated to manage when 3 accounting accounts would do the trick

Tell the client you’ll not be able to do the EFT run from specific bank and reconciliation in netsuite. HSBC have something called global wallet which is new concept and I’ve not seen how netsuite will handle it.

The best approach is to work the way the ERP is designed, rather than adapting it to behave like a different system

@verikott | @Marc | @sam1128 Thanks the input

Could you roll them into a Header account? then have that collapsed on the view he is looking at