Automated Settlement Reconciliation for NetSuite Pay
Automated settlement reconciliation is also known as automatic reconciliation, auto-recon, and settlement and fee reporting. It allows automated reconciliation of batch settlements, bank deposits with payments, and deposits in NetSuite. Whether you've set up automated settlement reconciliation doesn't affect gateway batch settlement or funds transfer processes upstream. It's used only for recording and reporting.
Complete the following tasks to set up automated settlement reconciliation:
After automated settlement reconciliation is set up, you can view deposits for reconciled payments. To view deposits, go to NetSuite Pay > Daily Settlement Batch > Settlement and Fee Report.
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To view the details of a specific deposit, select the deposit record listed in the Deposit Transaction(s) column. Payments are displayed on the Payments subtab.
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To view the details for the fees of a batch, select the journal record listed in the Journal Entry Transaction column. Fees are displayed in the Lines subtab. Each type of fee appears as a separate line.
Settlement Discrepancies
In the Settlement and Fee Report, you might encounter records that show Retry in the first column for the deposit record. This indicates that there is a discrepancy in the settlement because a matching payment from the bank settlement couldn't be found in NetSuite.
Select Retry to start the automated settlement reconciliation process. This looks for a matching payment in NetSuite again. When no matching payment is found, it is noted and no further action on that discrepancy will be taken. You must manually resolve the discrepancy or contact NetSuite support if this is a recurring scenario. When a matching payment is found, a deposit is created in NetSuite.
A settlement discrepancy can occur if the failed transaction has already been moved from Undeposited Funds to another GL account. Transactions that aren't in Undeposited Funds can't be reconciled. To resolve this, move the relevant transactions out of the other GL account and back into Undeposited Funds then select Retry.
Payment Scenarios Supported with Automated Settlement Reconciliation
The following payment scenarios are supported:
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ERP Payments: Credit Card
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Cash Sale
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Customer Payment
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Sales Order Authorization
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Sales Order Capture
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Customer Deposit
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Cash Sale Refund
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Customer Payment Refund
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NetSuite Native Payment Link
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SuiteCommerce MyAccount
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SuiteCommerce Advanced
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NetSuite Customer Center
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ERP Payments: ACH
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Cash Sales
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Customer Payment
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Sales Order Capture
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Customer Deposit
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Cash Sale Refund
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Customer Payment Refund
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NetSuite Native Payment Link
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SuiteCommerce MyAccount
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SuiteCommerce Advanced
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NetSuite Customer Center
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Single Subsidiary Invoice paid using Bank payment
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Single Subsidiary Invoice paid using Credit Card
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Multi-subsidiary Invoices of single customer paid using Bank payment
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Multi-subsidiary Invoices of single customer paid using Credit Card
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Hierarchy Customer Invoices paid using Bank payment
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Hierarchy Customer Invoices paid using Credit Card
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Multi-Customer Invoices paid using Bank payment
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Multi-Customer Invoices paid using Credit Card
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Prepayment applied to Invoices
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Payment method + Credit Memo application on Invoices
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Invoices paid using NetSuite’s Paylinks with Bank Account or Credit Card payment and Customer Payment sent to NetSuite
Payment Scenarios Not Supported with Automated Settlement Reconciliation
The following scenarios are not supported:
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When a non-sufficient funds (NSF) fee occurs, it isn’t cleared from the Undeposited Funds queue
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When a payment is voided and recreated after the reconciliation, the new payment isn't cleared from the Undeposited Funds queue