The Celigo SVB Bank Reconciliation Connector provides an automated way to reconcile accounts between SVB and NetSuite and eliminates the need for manually entering SVB accounts in NetSuite during reconciliation.
The SVB Bank Reconciliation Connector for NetSuite enables you to import an OFX file from SVB and then auto-match or manually match GL transactions between the bank transactions and the data recorded in NetSuite. The Connector provides the interface to manually allocate unattributed transactions.
The Connector uses the OFX Server Services of SVB to import OFX files, and perform bank reconciliations in a more efficient and automated manner in conjunction with the NetSuite Bank Reconciliation functionality. It is no longer necessary to manually import each bank file, by downloading it from the bank website to your desktop first, then importing it to customer’s NetSuite account. The OFX file import service speeds up the reconciliation process by automating the import of bank files in the OFX format.
Data Flow Diagram
The following data flow diagram depicts the interaction between the SVB and NetSuite components.