In this article:
How do I set up NetSuite Bank Feed?
Before you start setting up NetSuite Bank Feed, please ensure you have installed the "Airwallex: Bank Feed, Expenses and Bills" bundle (bundle ID 486224) to your NetSuite instance.
- Log in to Airwallex
- Locate “Settings” on the left-hand navigation bar and click on “Connections”
- Click on the “NetSuite” tile under “Recommended” tab
- Find the "NetSuite Bank Feed" tile and click "See details”
- Click the “Connect” button
- Connect your NetSuite account: You will be asked to provide your NetSuite account details to authorise the connection. Please refer to this article for instructions to locate these details.
Note: please update your bundle to the latest version
- Map Airwallex entities to NetSuite subsidiaries: You will map the Airwallex entities to the NetSuite subsidiaries available in your NetSuite account.
- Map your Airwallex wallet currencies to NetSuite bank accounts: You will see a list of Airwallex accounts under each Airwallex entity you mapped in the previous step. For each account, select the currencies and the corresponding NetSuite bank account to sync transactions with.
Note: Ensure that you have created the NetSuite bank accounts denominated in the desired currencies before proceeding.
Link your NetSuite bank accounts to Airwallex wallet currency feeds.
To ensure that synced transactions appear in your NetSuite bank account, you need to link the NetSuite bank accounts to Airwallex currency feeds.
Follow the steps below to set up Airwallex as a Financial Institution in NetSuite:
- Go to Setup > Accounting > Financial Institution
- In the FINANCIAL INSTITUTION field, enter "Airwallex"
- Click Save
Please ensure you enter only "Airwallex" in the field, as using any other name will prevent us from retrieving information from NetSuite.
Once saved, go to the Format Profile: Configuration sub-tab and click Add
Input the following mandatory values and then click “Save”.
- Profile Name: Airwallex
- Profile Type: Bank Reconciliation
- Connectivity Method: Onlineone | PGN | Airwallex Bank Feeds
- Transaction Parser: Onlineone | PGN | Airwallex Parser
Note: You will only need to do this setup once.
Finally, click on Accounting Linking. Under the “Linked GL Account” column, choose the appropriate NetSuite bank account for each Airwallex bank account. Airwallex bank feed will appear in NetSuite with the naming convention Airwallex_{Account nickname}_{Currency}. Ensure that the mapping in NetSuite matches the configuration in the Airwallex Webapp. Mismatched mappings will be reported as an error in the Airwallex Webapp.
If there is a new account or you need to update the account linking, you may edit the Format Profile you created by navigating to Setup > Accounting > Financial Institution > List.
View the Financial Institution where the format profile belongs to and click edit from the Format Profile: Configuration subtab.
- Until you have linked your NetSuite bank accounts, your Airwallex transactions will not appear in the “Match Bank Data” screen. We will surface an alert to remind you to complete this step if you have not done so.
FAQ
How do I disconnect Bank Feeds?
Navigate to the 'Connections' tab. Click on the NetSuite Bank Feed to open to the NetSuite Bank Feed home page. Click the disconnect button in the top right corner to disconnect bank feed.
How do I see my older Airwallex transactions in NetSuite?
Once connected, we will synchronise the most recent 24 hours of transactions to your NetSuite account.
For transactions predating this period, you have the option to manually input or upload them into NetSuite. If you require guidance with this process, we recommend reaching out to your dedicated NetSuite Account Manager for expert assistance.
My transactions aren’t syncing, what should I do?
If the transactions haven’t synced, or you have a connection issue, please follow the steps below to rectify the situation:
- Navigate to the 'Connections' tab and select the NetSuite Bank Feed tile to open the connection home page.
- Check to see if an error message is displayed indicating an issue with your NetSuite connection.
If an error message is present, click “Reconnect”.