new SuiteApp to streamline bank reconciliation on NetSuite’s SuiteCloud computing platform

Press Release - By Nolan Business Solutions | 22/11/2011

New SuiteApp reduces bank reconciliation process from hours to minutes.  

Nolan Business Solutions today announced the general availability of the Advanced Bank Reconciliation SuiteApp for the NetSuite SuiteCloud Computing Platform. The new SuiteApp enables users to automatically reconcile their bank statements with their accounting system. The Advanced Bank Reconciliation SuiteApp allows finance staff to complete the entire bank reconciliation process in a matter of minutes rather than hours, reducing the administrative burden on the finance department, whilst freeing up the time of finance staff to focus on other critical business tasks.

NetSuite’s SuiteCloud is a comprehensive offering of on-demand products, development tools, and services designed to help customers and commercial software developers take advantage of the significant economic benefits of cloud computing. The complete SuiteCloud offering includes NetSuite’s multi-tenant, always-on SaaS infrastructure; the NetSuite Business Suite of applications for Accounting/ERP, CRM and Ecommerce; and comprehensive development tools to create on-demand business applications on top of NetSuite.

“Bank reconciliation can be tedious administrative work, and quite complicated due to the many moving parts – lots of transactions, multiple banks and multiple accounts. Regardless of the complexity of the process, bank reconciliation has to be done, and done correctly,” said Tim Nolan, CEO of Nolan Business Solutions. “Our Advanced Bank Reconciliation SuiteApp enables NetSuite users to speed up the reconciliation process and ensure accuracy, as a result of its automated and time-saving features.”

Working with NetSuite

The launch of the Advanced Bank Reconciliation SuiteApp enables NetSuite users to reconcile their bank statements more quickly and accurately. Nolan’s Advanced Bank Reconciliation SuiteApp should appeal to any company that has high transaction volumes, multiple bank accounts, multiple general ledger cash accounts, or is operating with multi-locations or internationally.

Adopting the Advanced Bank Reconciliation SuiteApp delivers a number of immediate benefits, resulting in a very fast payback. All reconciliations can be carried out online, eliminating the danger of manual errors. Users also have the ability to reconcile bank statements on a daily basis, which means that the overall amount of time spent on reconciling is cut down considerably. The bank statement format is also user definable, which means that the product supports almost any bank worldwide.

“Accurate bank reconciliation is tedious but an important part of accounting and critical to running any business,” said Guido Haarmans, Vice President of Developer Programs and Business Development at NetSuite. “The Advanced Bank Reconciliation SuiteApp removes the tediousness and improves accuracy, allowing our customers to focus more on other tasks and helping them to get the most out of their investment in NetSuite”.