Case study / Accounting Partner
Shaving 4 hours off the month-end close
The Brex Difference
Manual CSV uploads, receipt chasing
Mairtini Ni Dhomhnaill
Mountain View, CA
100 - 500
Countsy provides on-demand CFO, Accounting, and HR Support via a back office platform for venture-backed startups. In 2019, NetSuite recognized Countsy as BPO Partner of the Year.
A number of Countsy’s clients use the Brex corporate credit card and the Oracle NetSuite ERP. In Summer 2019, when Brex launched the first-ever direct credit card integration with NetSuite, Countsy was an early adopter. “Typically, clients have anywhere from 2-20 cards issued to employees,” said Colman Edwards, Director of Technology at Countsy. “To close their books, we need to pull the transaction data into our credit card workbook, code the transactions, follow up on missing receipts, and then upload the CSV into NetSuite. We have a good process, but it’s manual.”
Countsy started using the NetSuite integration for their Brex clients to close their books. “The integration setup is really fast—you simply install the bundle, connect it to NetSuite, assign the settings in Brex to the NetSuite accounts, then you’re up and running,” Edwards remarked. “The whole process took us 20-30 minutes per client.”
The integration reduced Countsy’s manual workload. “With Brex, we no longer need to use CSVs. All the work is done within Brex and then directly imported into NetSuite,” said Edwards. “It cuts the close time down by 4 hours.” Because Countsy serves a variety of clients, they needed a high degree of customization to control how the data should appear: “We like having the option to upload every individual transaction, or upload monthly batches. Individual journal entries for individual transactions are great for clients who like to do reconciliations within NetSuite.”
Countsy uses the integration’s flexible Custom Rules engine to set their clients’ unique business logic to automatically map to NetSuite—instead of using multiple formulas in a CSV. “Every time you export transactions, the rules are applied. You can assign people to departments, merchants to the correct categories and departments, etc.”
What Edwards appreciates most is the time it will save each month: “In the future, if people swipe their card again, the transaction is auto coded. Without custom rules, it’s 100% figuring out the coding per transaction.” Countsy also noticed that clients using Brex cards have receipts uploaded more often than clients not using Brex. Edwards attributes this to how easy it is to upload receipts. When employees swipe their card somewhere, Brex prompts them for a receipt via text or mobile app push. Employees can reply with a photograph and Brex auto-matches it to the transaction. “Brex giving employees the option to add receipts makes it a lot easier to close the books than with other cards,” said Edwards.