What’s New?

As April 2021, Netsuite has released enhancements regarding Bank Feeds for SuiteApp version 21.1.1 This includes following features:

· Global Bank Feeds Integration Services

· Support for Partial Success of U.S. and Canada Bank Feeds Data Import

· Support for Financial Institution Connections with Multiple Login Accounts

· Removal of Waiting Period During Installation

Global Bank Feeds Integration Services

Bank Feeds SuiteApp expands its support through multiple financial institutions in Australia, New Zealand, Switzerland, and some parts of Asia.

The latest BankFeed SuiteApp version 21.1.1 will automatically provision your account with two new format profile records.

The latest version of Bank Feeds SuiteApp also extends its support to financial institutions that are not country–specific. These financial institutions can now be set up using the Connect to Europe Accounts and Connect to Accounts in Other Countries format profiles. 

Support for Partial Success of U.S. and Canada Bank Feeds Data Import

On prior days, when at least one of user’s US or Canada financial institution accounts encounters an error, the bank data import status will fail and no transaction will be imported into NetSuite. This limitation prevents the users from completing your bank reconciliation tasks for your other accounts.

According to the latest enhancement, Bank Feeds SuiteApp can now let you proceed with the bank data import even if one of your financial institution accounts encounters an error. On the Banking Import History page, the bank data import status is set to Partially Completed when at least one of your associated accounts fails the bank data import because of errors.

On your format profile configuration, bank and credit card accounts that fail to connect are shown with warning icons. Each failed account connection is provided with a failure reason to help you resolve the error.

Support for Financial Institution Connections with Multiple Login Accounts

In version 21.1.1, the SuiteApp lets you connect to a financial institution using multiple login accounts. Add Connections and Accounts subtab of your format profile using ConnectionID. This new column serves as a unique identifier when you have the same financial institution connection with different users or credentials setup. ConnectionID helps you identify which banks and credit card accounts are associated with which financial institution. This feature enables you to manage connections within the same financial institution independently.

Removal of Waiting Period During Installation

The latest update of Bankfeed SuiteApp allows users to access Bankfeed SuiteApp right after the installation of SuiteApp. Users used to have to wait for 30 minutes after installing SuiteApp to immediately during installation from the SuiteApp Marketplace.

Improvements to U.S. and Canada Bank Feeds Integration

Bank Feeds SuiteApp version 20.2.2 includes the following improvements to help you manage and configure U.S. and Canada financial institution connections in NetSuite.

• Managing U.S. and Canada Financial Institution Connections – In previous versions, you can only add a new financial institution or exclude an account from your U.S. and Canada bank feeds integration. Starting version 20.2.2, you can manage your connections and associated accounts on the Connect to U.S. and Canada (Link Bank Accounts) Format Profile page. You can perform the following actions on this page:
  • Rebuild Connection
  • Update MFA (Multi-Factor Authentication)
  • Delete Connection
  • Exclude Account

• Configuration for Financial Institution Connections Launches as a Popup Window – To connect a financial institution operating in the United States and Canada, the configuration now launches as a popup window. The popup window replaces the embedded section under the Connectivity Configuration subtab of the format profile.

The configuration popup window opens when you perform any of the following actions:

• Connect a new financial institution for the first time.
• Manage your financial institution connections through the Rebuild Connection and Update MFA actions.

Bank Feeds Audit Trail

The Bank Feeds Audit Trail is a specialized custom record that helps you keep track of your NetSuite account’s bank feeds activities within a 90-day period. You can access this custom record from  Bank Feeds Audit Trail and click List to show the audit trail records.