Reconciling Bank and Credit Card Statements

Note:

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:

• If necessary, import your bank or credit card data. See Bank Data Import.

  Note:

  As of NetSuite 2021.1, because you can mark transactions without matching bank lines as cleared, this import step is no longer required.

• Use the Automated Cash Application feature to generate customer payments from imported bank lines (if applicable). The feature automatically matches and clears these payments. See Generating Customer Payments.

• Manually match any remaining imported bank lines, or clear account transactions that don’t have matching imported bank lines. See Matching Bank Data.

• Submit the transaction matches. See Submitting Matched or User-Cleared Transactions.

• Reconcile the transactions. See Reconciling Transactions.

Related Topics

• Bank Data Matching and Reconciliation
• Permissions for Banking Features
• Intelligent Transaction Matching for Bank Data
• Account Reconciliation Reports

General Notices