Reconciling Bank and Credit Card Statements
This section pertains to the redesigned reconciliation feature. The original reconciliation feature isn't supported as of NetSuite 2021.1. If you're still using it and don't want to switch yet, see Bank Account Reconciliation and Reporting. To use the redesigned reconciliation feature, see Editing Accounts to Use the Match Bank Data and Reconcile Account Statement Pages.
To reconcile your bank or credit card statement, from beginning to end:
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If necessary, import your bank or credit card data. See Bank Data Import.
Note:You can clear general ledger transactions without matching imported bank transactions, so this import step is not required.
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For an imported bank transaction that is a full payment for one open invoice or one open payable, use a payment application suggestion. See Creating, Applying, and Matching Payments for Open Invoices Using Payment Application Suggestions or Creating, Applying, and Matching Payments for Open Payables Using Payment Application Suggestions.
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If an imported bank transaction does not have a suitable payment application suggestion, you can manually create a customer payment or bill payment from the Transactions to Match subtab. See Creating Customer Payments from Transactions to Match or Creating Bill Payments from Transactions to Match.
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Use Automated Cash Application for accounts receivable workflows that require partial application, multiple invoices, invoice IDs, or customer-mapping flexibility. The feature generates customer payments, applies them to open invoices, and automatically matches and clears them. See Generating Customer Payments.
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Review match suggestions for imported bank transactions. If an imported bank transaction does not have a suitable suggestion, use the Transactions to Match subtab to manually match it or to clear a general ledger transaction without a matching imported bank transaction. See Matching Bank Data. NetSuite automatically submits matched or cleared transactions for reconciliation.
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Reconcile the transactions. See Reconciling Transactions.