We are excited to announce a new release of Advanced Bank Reconciliation (ABR) for NetSuite!
Our SuiteCloud Accredited developers have been working hard and listening to the requests of ABR users to produce some great new functionality.
With the new features, we are pleased that ABR now supports SuiteGL, SuiteSegments and SuiteCloud Plus.
SuiteGL users can now transform the general ledger from a static subsystem into a dynamic business asset that is more adaptable to specific business requirements and changing conditions. For ABR it now allows the user to create custom transaction types allowing you to record specific data that is relevant to your organisation.
SuiteSegments allows you to add additional GL segments e.g. office location, vertical, product range etc… enabling you to report by any of those segments. This is particularly useful in ABR as when a journal is created it now allows you to set the additional segment codes.
The SuiteCloud Plus feature provides additional script processing queues, which can be helpful when processing large batches of data, such as an ABR extract. The processing can now take place in parallel over multiple queues, shortening the overall time to completion.
Here are a few of the new features for ABR...
Creating Journal Entries using full NetSuite form
The ABR configuration page now includes the option to use the NetSuite Journal Entry form instead of the simplified ABR form. This aids the user when using the “Create GL Trx” feature with custom transaction fields, additional mandatory fields and transactions approval.
This also means that all the column fields are available, for example the ‘name’ field.
This is where you might find the use of SuiteGL and SuiteSegments most useful!
Summary Information on the ABR Reconcile Screen
The summary information (example below) includes some new details:
Right of the screen:
Number of records (Count Column)
Total Value of matched transactions (Matched Column)
Sum of selected transactions (Selected Column)
On the left of the screen - the GL Closing balance (sum of ABR records up to the Statement Date) now has a tooltip, which appears when you hover the mouse cursor on the balance, showing the corresponding NetSuite balance.
These two numbers will be the same if ABR is up-to-date, so the GL Closing balance is shown in red if there is a difference, warning the user that an ABR Extract is required.
Auto-Match Completion Summary
The summary displayed when Auto-Match processing completes now includes the number of matches made in addition to the number of records considered for matching, that was shown before.
With SuiteScript 2.0, NetSuite introduced Map-Reduce scripts. This new script type is ideally suited to processing large batches of data, such as an ABR Extract.
Tick this functionality if you use the SuiteCloud Plus feature.
It provides additional script processing queues, much of the processing can take place in parallel over multiple queues, shortening the overall time to completion.
The ABR Extract routine has been re-written to operate as a Map-Reduce script and use of this can be enabled in the ABR Configuration screen.
For backward compatibility and simplicity, the original scheduled script has been retained and will be used if the new option is not selected.