Sync Stripe data with NetSuite in real-time scenario
NetSuite is a cloud-based ERP system used by over 18,000 customers to consolidate finance, manage e-commerce, and more. NetSuite Stripe connector can be used to transfer data from Stripe to NetSuite. The Stripe Connector for NetSuite pushes Stripe customers, invoices, payments, refunds, disputes, deposits, and more to NetSuite in real time. This automates all income and cash entries in NetSuite, eliminating manual reconciliation and custom integrations.
Stripe connector can also be used to accept payments on invoices and manage e-commerce workflows. Workflows can be simplified by syncing payments made on Stripe with a NetSuite Sales Order via e-commerce platforms such as Magento, WooCommerce, and more. Stripe connector integrates Stripe Subscriptions with NetSuite, which facilitates automation of entire accounting workflow thus supporting NetSuite Revenue Recognition system.
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Key benefits of NetSuite Stripe integration
In addition to eliminating expensive custom NetSuite development, here are the core benefits of the integration for the finance team:
- Payments and refunds are applied to the corresponding invoices and credit memos, eliminating manual cash application work.
- SuiteSync supports connecting to invoices (or orders) created by other systems
- The entire dispute (chargebacks) lifecycle is tied into NetSuite. The income, cash, fees, etc associated with a dispute which you win or lose is completely automated.
- Bank reconciliation is automated on the transaction-level. Deposits are created daily containing the amount and date of the deposit from Stripe to your bank. Stripe fees are calculated and post to unique GL accounts. The deposits created by the integration will match the amount and date of the Stripe deposits to your bank, completely automating the bank reconciliation workflow
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