DENVER, July 16,
2024 /PRNewswire/ -- Netgain — the company powering
modern accounting teams — today announces the launch of NetCash, a
new way to modernize and streamline cash management for accounting
teams. NetCash offers real-time automated bank imports and
reconciliations, directly within NetSuite.
Netgain is on the forefront of the open banking
movement, enabling NetSuite users to seamlessly connect their bank
accounts and import cash transactions via APIs, providing
real-time, precise, and comprehensive visibility into the cash
position of a company. By partnering with multiple open banking
providers, NetCash boasts a greater number of bank
connections than any other cash management solution.
With daily automation and optimization of cash transaction
imports, application, and matching, accounting teams can now
proactively and efficiently stay on top of cash transactions and
balances throughout the month. Even better, accounting teams can
spend less time at month-end being reactive and chasing down
supporting details via manual processes.
"Netgain is built by a team of dedicated accounting
professionals driven by a shared passion for alleviating the common
challenges encountered by accountants and financial experts —
offering solutions we yearned for ourselves," shared Nathan Smart, President and Founder
of Netgain. "Our commitment with NetCash, as with all our
innovations, is to streamline accountants' lives through
user-friendly solutions that grant instant access to precise
financial information."
Key features of NetCash include:
- Open banking integrations: Access and manage your
bank data seamlessly within NetSuite.
- Automated syncing: Automatically synchronize bank
transactions for up-to-date visibility into your accounting
system.
- Accurate matching: Ensure greater efficiency and
accuracy with automated bank-to-general ledger (GL) matching.
- Simplified cash applications: Streamline the open
invoice and vendor bill cash application process with ease.
- Initiate transfers: Automate bank transfers quickly and
efficiently.
- Audit-ready reports: Generate proof-of-cash reports
for audits and management.
- Intuitive bank reconciliation summaries: Access bank
reconciliation and ending balance summaries effortlessly.
- Transaction creation: Automate transaction creation upon
bank deposits.
- Efficient reviews: Easily review and confirm transaction
matches.
"Before adopting NetCash, our monthly bank reconciliation
process was a major time drain. We had to manually upload bank data
several days at a time, twice a month, which often led to delays
and discrepancies. Since switching to NetCash, we now enjoy a live
bank feed that updates daily. This has significantly reduced our
reconciliation time to just about an hour each day. It's made our
workflow more efficient and helped us spot issues early, keeping
everything on track and boosting our overall productivity,"
shared Cecilia Banegas, Accountant at Centric
Infrastructure Group.
About Netgain
Netgain empowers accounting teams to
eliminate broken and inefficient operations and reclaim valuable
time with modern technology and automation. We help businesses of
all shapes and sizes become more confident, agile and capable of
rapidly coming to clear financial decisions fueled by accurate,
precise financial insights.
For more information about NetCash, visit
netgain.tech/netcash.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/netgain-introduces-netcash-for-effortless-bank-reconciliations-in-netsuite-302192557.html
SOURCE Netgain Solutions