how do i set up automated cash application?

AI generated answer (using internal Slack threads):

To set up automated cash application in NetSuite, you need to follow these steps: 1. Import the bank statement: The first step is to import your bank statement into NetSuite. This can be done manually or through an automated process depending on your bank and the capabilities of your NetSuite system. 2. Launch cash application: Once the bank statement is imported, you can launch the cash application. This process will identify customer payments and offer to create the corresponding transactions in NetSuite. 3. Create rules: You will need to create rules in the cash application to match the bank statement data with the corresponding transactions in NetSuite. This could be based on the name of the supplier or a common value with NetSuite. 4. Reconcile transactions: After the transactions are created, the system will automatically reconcile them with the bank statement data. 5. Finish with match bank data: Finally, you can finish the process with the match bank data function for any remaining transactions. Please note that if you use cash application, it is advised to deactivate the automatic matching rules of match bank data. This is because if a customer payment on the bank statement side is wrongly matched with another NetSuite transaction, it will no longer appear in the cash application. Also, keep in mind that the cash application configuration depends on the information that you manage to get back with your bank statement. The goal is to create rules in cash application but a common value with NetSuite must exist. ****** Disclaimer: This response was generated by an artificial intelligence assistant based on previous conversations from multiple Slack channels, and may contain inaccuracies or mistakes. ******