Marking Transactions as Cleared

If account transactions do not have corresponding imported bank lines to match, on the Match Bank Data page, you can mark the transactions as cleared, pending submission. Transactions that have been marked as cleared appear in the Review subtab on the Match Bank Data page. Similar to transaction matches, user-cleared transactions are in a pending state until you submit them. After you submit the transactions, the system clears them and you can reconcile them on the Reconcile Account Statement page.

Marking a transaction as cleared may be necessary in the following examples:

• You recorded an account transaction for a check that was later voided with or without a reversing journal entry:

  • If you voided a check with a reversing journal entry, the system records a reversing journal entry to cancel out the general ledger impact of the check. Both the voided check and reversing entry appear as account transactions on the Match Bank Data page. To ensure the check balance is zero, you need to clear both transactions.

  • If you voided a check without a reversing journal entry, you need to clear the voided check. If the voided check has any corresponding imported bank lines, you need to match them to account transactions. If no corresponding account transactions exist, create them.

• You want to clear a transaction without importing bank data. For example, you may have an old account transaction you want to match but uploading the corresponding bank statement is difficult or not possible.

To mark an account transaction as cleared:

1. Go to Transactions > Bank > Match Bank Data.

2. From the Account list, select the bank or credit card account.

   In the Imported Bank Data and Account Transactions grids, NetSuite displays the imported bank lines and corresponding account transactions that require manual matching.

3. From the To Be Matched subtab, in the Account Transactions grid, check the box next to each transaction you want to clear without matching. If you want to select all visible items in the current page at once, check the box in the grid header.

   The bottom section of the page displays all selected account transactions in the right grid. These transactions should not have corresponding imported bank lines to match.

4. Beneath the Account Transactions grid, click Clear.

   Note:

   The Clear button is not active if an imported bank line or an in-transit transaction is selected.

   The selected transactions move to the Review subtab.

5. Click Submit.

   The transactions are cleared in the system and move to the Reconcile subtab on the Reconcile Account Statement page. The transactions are automatically selected for reconciliation.

You can undo the cleared status of a transaction that has been marked as cleared before or after submitting it. For details, see Undoing the Cleared Status of Transactions and Undoing the Cleared Status of Submitted Transactions.

Related Topics

• Matching Bank Data
• Updating Imported Bank Data
• Filtering Imported Bank Data and Account Transactions
• Viewing Details of Account Transactions
• Viewing Transactions To Be Submitted
• Viewing Unmatched Transactions
• Undoing Matched Transactions
• Excluding Imported Bank Lines From the Matching Process
• Restoring Excluded Imported Bank Lines
• Adding Account Transactions During the Matching Process
• Undoing the Cleared Status of Transactions

General Notices