The client wanted to integrate third-party Accounts payable management application called Tipalti with NetSuite. The client had a multi-subsidiary setup.
Making the integration work as expected was the task on our hands. It involved making sure that the Structure of Integration, Requirement Analysis, and communication with the third-party supplier flow smoothly.
To start with, we determined the steps involved in the integration,
1. For integration, firstly Client wanted to sync the invoices and payments made from different subsidiaries into respective subsidiaries rather than everything getting synced in the holding company, followed by moving everything to another sub using Journal entries. The issues in Setup were identified and we communicated the same to the customer and third-party vendor. The issues were addressed and sorted by us.
2. Reconciling Tipalty account statement with NetSuite was an uphill task. Though matching the payment side was easier. However, the bills that were booked in Tipalty but were unapproved or approved after reconciliation, created issues in reconciliation. To counter the same, we created a system to approve or reject all the invoices relating to month-end close before day 5 after month-end to ensure that reconciliation on the Bills side can be done correctly.
3. Difference in FX rate charged by Tipalty vs. FX rate as per NetSuite was also causing the difference. We identified and matched these separately and corrected the FX rate in NetSuite as per Tipalty.