Statements and Reconciliation
Use daily and monthly statements for HSBC Online Account and HSBC Virtual Card reconciliation. Bank account monthly statements, virtual card statements, and invoices become automatically available for download as PDF files on the second day of every month.
To access the statements, go to SuiteBanking > Payment Automation > Dashboard, and click Account Details in the HSBC Online Account portlet, or Card Details in the HSBC Virtual Card portlet.
For an overview of dates relevant to bank and virtual card data reconciliation, see Statement and Auto-Debit Payment Schedules.
A format profile is created automatically for your account. For information about format profiles, see Format Profile.
Journal entries for transaction fees are automatically created based on the monthly statement on the 15th day of every month. The transfer status of the journal entry is "Sent to the Bank" and the Memo is "Monthly Invoice Fee". The journal entry is created to record the bank transfer from the source bank to HSBC to pay the fees.
On the second day of every month, statement files of posted transactions are automatically retrieved from HSBC. NetSuite existing auto matching rules match the transactions from the files with bill payments in NetSuite. For more information, see Matching Bank Data.
The HSBC ACH Reconciliation format profile lets you see individually all the ACH transactions that are posted in each batch.
Billing fees and virtual card payments are automatically debited from HSBC when due:
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Billing fees – debited five days after the statement is generated, which is typically every 20th day of the month.
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Virtual card payments – due every 25th day of the month. Virtual card payments are included in the ACH CSV report. The CSV reconciliation report does not include any Memo information. However, the report includes the payee.
Billing fees and virtual card payments are posted in the HSBC Online Account and are included in the daily reconciliation report.
To download a bank account monthly statement or an invoice:
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On the left navigation pane, click Bank Accounts.
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In the Statements portlet, click the Statements subtab or the Invoices subtab.
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Locate the statement or invoice that you want to download.
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Click Download.
To download a virtual card statement:
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On the left navigation pane, click Cards.
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In the Statements portlet, locate the statement you want to download.
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Click Download.