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Bank Reconciliation

Feature

Description

Prerequisites

Manual Bank Reconciliation

Lets you manually mark bank transactions as reconciled. For more information, see Reconciling Bank Statements

You must have the proper permissions assigned to your role. For details, see Permissions for Banking Features.

If you want to use the pages for an account, check the Use Match Bank Data and Reconcile Account Statement Pages box on the Edit Account page. For details, see Editing an Account.

Reconciling Bank and Credit Card Statements

When bank data has been imported to NetSuite, you can match and reconcile transactions without the need for third-party tools.

To reconcile your account statement from beginning to end:

  • Import your bank statement file. You have two options when using online banking:

    • Download the account statement from your financial institution or credit card company, and then import the statement to your NetSuite account.

    • Use the Financial Connectivity Plug-in to automate your file uploads through SaltEdge.

For more information, see the following topics:

Importing Data Using a Financial Institution Record - the following formats are supported:

  • MT940

  • OFX

  • QFX

  • BAI2

  • CAMT053

For more information about these formats, see Bank Statement Parsers SuiteApp.

Install the Bank Statements Parsers SuiteApp. For more information, see Installing the Bank Statement Parsers SuiteApp. This SuiteApp provides parser plug-ins for the supported formats.

Note:

If you develop new formats in addition to the supported ones, you must create a Financial Institution Parser Plug-in implementation. For more information, see Financial Institution Parser Plug-in Interface Overview

Importing Data Using Default Parsers — the following formats are supported:

  • BAI2 TXT with UTF-8 encoding

  • CAMT.053.001.06 XML with UTF-8 encoding

  • CSV with UTF-8 encoding

  • OFX

  • QFX

For more information, see Supported File Formats for Default Parsers

 

Auto Bank Statement Import SuiteApp which uses the Financial Connectivity Plug-in to automatically import bank data through SaltEdge from your financial institution. The Auto Bank Statement Import SuiteApp is usually used together with the Bank Statement Parsers SuiteApp

Install the Auto Bank Statements Import SuiteApp. For more information, see Installing Auto Bank Statement Import SuiteApp.

Install the Bank Statement Parsers SuiteApp. For more information, see Installing the Bank Statement Parsers SuiteApp.

Note:

If you develop new formats in addition to the supported ones, you must create a Financial Institution Parser Plug-in implementation. For more information, see Financial Institution Parser Plug-in Interface Overview

  • Match imported Statement Transactions with NetSuite Transactions.

For more information, see Matching Bank Data.

See Permissions for Banking Features for the proper permissions to use the Match Bank Data and Reconcile Account Statement pages.

If you want to use these pages for an account, check the Use Match Bank Data and Reconcile Account Statement Pages box on the Edit Account page. For more information, see Editing an Account.

  • Submit the transaction matches.

For more information, see Submitting Matched or User-Cleared Transactions.

  • Reconcile the transactions.

For more information, see Reconciling Transactions

General Notices