News Announcement
JCurve Solutions responds to customers demands for banking
integration
Thursday 29 September, 2016, Sydney Australia. JCurve Solutions (JCS) has begun trials of
frequently requested banking integration functionality that works within the NetSuite
platform. Direct bank feeds with automatic matching will soon be available to all customers.
This will result in no manual payment entry required with all bank transactions created
automatically.
This is set to save significantly time for every JCS customer using NetSuite, including the small
business JCurve ERP edition.
This solution will allow users to directly import a bank statement for easy creation of bank
transactions and bank reconciliations. Direct bank feeds are now supported by over 150
banks worldwide, 106 in Australia and 7 in New Zealand with more on the way.
JCS have partnered with ERP FastForward, a global NetSuite Solution Developer Network
(SDN) partner. This solution is certified Built-for-NetSuite which means it adherers to
NetSuite development principles and is tested on every new release. The direct bank feeds
SuiteApp is already used in over 20 different countries and can also be used for the
reconciliation of payment gateway accounts.
“Client expectations have evolved over the past few years when it comes to removing time
intensive and repetitive tasks for their staff,” explained Stephen Canning, CEO at JCS. “We
understand that the limitations of banking integration within NetSuite has been an on-going
frustration for customers and we are extremely excited to be able to announce the early days
of this partnership,” says Stephen.
“By partnering with ERP Fast Forward we are looking to make time saving a reality for finance
and administration staff by allowing technology to do the heavy-lifting. This state-of-the-art
solution has a proven track record in helping businesses around the world to do this,”
continued Stephen.
“ERP Fast Forward has delivered a tried and trusted banking integration solution that is a
huge timesaver for each and every customer using this certified Built-for-NetSuite SuiteApp,”
says Hylke Sluis, Founder and CEO of ERP Fast Forward. “With One tool, one page to manage
all bank transactions. We are looking forward to addressing this continued pain point for
JCurve Solutions’ NetSuite and JCurve ERP customers ,” said Hylke.
“Cutting down on the time taken to complete a bank reconciliation frees up staff to do more
value-added activities within the business”, explained Hylke.
Key benefits:
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Simplify the bank reconciliation process; all bank transactions are presented in one
overview from where they can be processed
Unlike pure bank reconciliation software, this app creates all bank transactions
(customer payments, bill payments, deposits etc.)
Direct feed for 150+ banks worldwide
Bank transactions are matched with open NetSuite transactions and payments are
automatically created
Set custom matching rules to enhance auto-matching
Handle payment differences with just one click
In case no open transactions are found, checks or journals can be created from the
same screen by selecting an account and entity
Entry of bank transactions and reconciliation at the same time
Key Features:
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Use a direct feed or manually import a bank statement to eliminate manual entry and
reduce errors. Almost all csv-based formats can be configured. Support for CAMT.053,
MT940 and several local formats. Other import formats available upon request
Import one file for multiple bank accounts
Auto-matching of open bills, invoices, expense reports, journals, vendor credits and
credit memo’s, based on the invoice number in payment description
Auto-matching of a payment on multiple open transactions
Auto-matching of an already created payment transaction in NetSuite
Ability to set custom parameters for auto-matching, allowing users to choose the
fields used for auto-matching
Ability to set custom matching rules, for example ‘if description contains “salary”,
create a journal to GL account XYZ’
Automatic creation of payments, the following transaction types:
• Customer Payment
• Bill Payment (for vendor bills and expense reports) Check
• Journal Entry
• Customer Refund
• Vendor Credit
• Deposit
• Customer Deposit
Handling of foreign currency payments, automatically calculating the exchange rate
used by the bank
Manual matching: show open transactions per customer/vendor and easily select the
transactions that were paid
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Manual matching: search transactions based on the transaction number, PO/check
number, date range and amount range
Manual matching: the system can suggest possible transactions to the user
Book payment differences with one-click, for example bank charges, payment
discounts, over/underpayments or exchange rate differences. Configurable options
‘Lines to process’ is one page where all unprocessed / unreconciled lines from all
statements show, which can be processed from this page directly
If the csv bank statement contains additional information, it can be copied on any
field on the resulting payment transaction. For example a check number or a
reference number from a payment gateway
Match a bank statement line against a payment batch from NetSuite Electronic
Payments
Set a catch-all GL account for transactions that are not auto-matched
Role restrictions can be set for bank reconciliation and separation by subsidiary,
department, class and location
Support for NetSuite classifications Department, Class and Location
Several reports and reminders available
JCS is currently working with a small number of customers to pilot and fully test this solution
prior to general release to all customers. “Entering transaction data and keeping
reconciliations up to date is a costly time consuming task,” explained Ben Carroll, Managing
Director of Velflex, a JCS customer. “We are looking forward to using this new solution to
improve the efficiency and ease of routine regular tasks such as entering bank transactions,”
continued Ben.
Customers interested in this bank reconciliation solution can contact the account
management team at JCS to arrange for a demonstration.
– ENDS –
For further information, contact:
Kate Massey
Head of Marketing
JCurve Solutions
Email: [email protected]
Phone: 02 9467 9212
About ERP Fast Forward:
ERP Fast Forward are a global NetSuite Solution Developer Network (SDN) partner. The bank
reconciliation solution is certified Built-for-NetSuite meaning it adheres to NetSuite
development principles and is tested on every new release. The SuiteApp is already used in
over 20 different countries and can also be used for reconciliation of payment gateway
accounts.
www.erpfastforward.com.
About JCurve Solutions:
JCurve Solutions (JCS) is one of the largest Australian and New Zealand solution providers of
NetSuite, the global leader in cloud enterprise resource planning (ERP) software.
As a 5 Star partner JCS works closely with clients to maximise their investment in NetSuite,
including their exclusive small business JCurve ERP edition. This cloud-based business
management software helps to empower growth for businesses of all sizes by transforming
the way they manage their businesses. While providing real-time data and KPIs for total
visibility, it also allows businesses to streamline and automate operations across financials
and payroll, inventory and order management, CRM, eCommerce and more. JCurve Solutions
is listed on the ASX (JCS). www.jcurve.com.au.