1. Accounting
  2. Banking
  3. Bank Data Matching and Reconciliation
  4. Reconciling Bank and Credit Card Statements
  5. Matching Bank Data
  6. Match Suggestions for Imported Transactions
  7. Reviewing Match Suggestions
  8. Creating, Applying, and Matching Payments for Open Payables Using Payment Application Suggestions

Creating, Applying, and Matching Payments for Open Payables Using Payment Application Suggestions

Payment application suggestions help you create a bill payment for an open payable, apply the bill payment to the payable, and match the bill payment with an imported bank transaction. Use this procedure when NetSuite shows an Apply Payment or Review Payment Options suggestion for an open payable on the Match Bank Data page.

Payment application suggestions support only one-to-one matches for the full outstanding amount. Partial payments and multiple payables for one bill payment are not supported. To create a partial payment or apply a bill payment to multiple open payables for the same vendor and accounts payable account, use the manual bill payment flow on the Transactions to Match subtab.

Before you begin

  • The Generate Match Suggestions for Accounts Receivable accounting preference must be enabled. This preference is enabled by default. For details, see Accounts Receivable.

  • You need the Reconcile and Customer Payment permissions with at least create-level access. For more information, see Permissions for Banking Features.

  • The invoice must be open and posting, and its subsidiary and currency must match the bank account.

To create, apply, and match a payment for an open invoice using a payment application suggestion:

  1. Go to Transactions > Bank > Bank Matching and Reconciliation > Match Bank Data.

  2. From the Account list, select the bank account you want to review.

  3. On the Match Suggestions subtab, find the imported bank transaction with a payment application suggestion.

  4. If the suggested action is Apply Payment, do one of the following:

    1. Click Submit to submit the suggestion from the row.

    2. Click View to expand details about the suggestion. Review the payment application suggestion, and then click Apply and Submit or Reject Suggestion.

  5. To submit or reject multiple payment application suggestions with one option, check the box next to each suggestion. Then, click Submit Selected Suggestions or Reject Selected Suggestions.

  6. If the suggested action is Review Payment Options, click Review to review the suggested invoices for the payment, and then do one of the following:

    1. Select the appropriate option, and then click Apply and Submit.

    2. Click Reject Suggestions to reject all suggestions.

When you submit a payment application suggestion, NetSuite creates the payment, applies it to the open invoice, and matches the payment with the imported bank transaction. The imported transaction and payment then appear on the Reconcile Account Statement page, where you can reconcile them.

Note:

If you undo the reconciliation on the Reconcile Account Statement page, NetSuite does not remove the customer payment created when you submitted the payment application suggestion.

If you reject one or more payment application suggestions, NetSuite removes the suggestions. The imported transactions associated with the rejected suggestions appear on the Transactions to Match subtab for manual matching. To generate eligible suggestions again, run reconciliation rules.

General Notices