New ways to manage your cash direct from NetSuite | Annexa Blog

What you need to know about NetSuite’s new bank feeds

Managing cash is critical to the success of every business. Without visibility into daily balances, a business can put themselves in a precarious financial position.

Fortunately, a lack of cash visibility in NetSuite will soon be a thing of the past with NetSuite’s Bank Feeds SuiteApp now available throughout Australia and New Zealand.

This latest feature enables customers to automate the upload of their bank and credit card data directly from their financial institution account into your NetSuite environment.

This gives NetSuite customers access to up-to-date financial data, eliminating inefficient manual processes and providing greater control of cash resources.

Not only does the NetSuite Bank Feeds SuiteApp conveniently connect to many different financial institutions, NetSuite customers can also automatically import bank data nightly, update bank account balances daily and do it all with bank-level security.

Is the NetSuite Bank Feeds SuiteApp right for you?

• If you’re interested in this new banking capability, here’s some more practical benefits:
• Automate bank account management and reconciliation. Create and post transactions automatically from imported bank data.
• Up-to-date data allows financial managers to make informed decisions about how and when to allocate cash.
• Improved tracking of payments, credit card charges and bank balances helps ensure financial resources are being used for the good of the company.
• Regular reconciliation of bank and credit card transactions makes balancing the general ledger easier, saving time during the close process.

For information on how to implement NetSuite Bank Feeds for your business, please contact the Annexa Assist team at support@annexa.com.au or 1300 994 550

Annexa is a leading NetSuite partner with extensive experience designing and implementing comprehensive and customised business systems, including payroll solutions, financial management, warehouse management and ecommerce solutions.