Using NetSuite's new bank feeds in Australia
Prior to the new bank feeds feature just announced recently for NetSuite, the process to reconcile bank accounts was a very manual one that involved uploading data from your bank and then manipulating it , leading to a very time consuming process, of in effect getting bank statements to agree with your accounting.
The financial institutions didn't make it easy. Now with the first step toward open banking in Australia, NetSuite has caught up with the likes of Xero and made the process a lot easier by automatically importing data using the NetSuite bank feeds suiteapp. This, once installed in your NetSuite instance saves soooo much time.
Have a look at the YouTube video "Bank Feeds in NetSuite by onlineone" to see how easy it is to automatically import bank account and credit card statements into NetSuite; and then do the bank reconciliation.