Transaction Reconciliation
What do I do if I'm not receiving deposits to my checking account?
If the account is in provisionally approved status on the Merchant Account, there are cases where funds are withheld until full approval. If your Merchant Account is already approved, contact NetSuite support.
What do I do if my deposits aren't reflecting in NetSuite?
If deposits are not reflecting in NetSuite, that typically means there is an exception that needs to be resolved under NetSuite Pay > Daily Settlement Batch > Daily Settlement Exception List. After the exception is resolved, the M/R script will run again and create a deposit automatically if no exception.
Contact NetSuite Support, if retriggering the process does not work.
How long is money from transactions held back?
NetSuite Pay funding operates on a T+1 schedule. This means deposits are made to your account one business day after a batch is closed. NetSuite Pay does not support weekend funding. Batches closed on Friday will generally be deposited to your account on Tuesdays.
What is Open Settlement Report?
The Open Settlement Report in NetSuite Pay reflects transactions that do not match. This means they are present in NetSuite and not present at the processor, or present at the processor and not present in NetSuite. This report also allows you to manually reconcile these types of transactions. You will receive an email outlining the discrepancies.
Go to NetSuite Pay > Daily Settlement Batch > Daily Settlement Exceptions List.
What is Fees Reconciliation?
Versapay charges transaction fees, and NetSuite Pay includes a Settlement and Fee reconciliation feature which automatically reconciles transaction fees and associates them with the proper bank accounts in NetSuite Pay.
Why do I need settlement batches?
Settlement batches are part of the process of moving money from customers accounts to your account. It is an industry standard for accepting card payments.
What is the difference between native NetSuite Bank Reconciliation and NetSuite Pay Settlement and Fee Reconciliation?
Native NetSuite Bank Reconciliation does not take into account transaction fee reconciliation, which is included in NetSuite Pay Settlement and Fee Reconciliation.
Where can I find the transaction fees that are assessed by Versapay?
You can find the transaction fees billed by Versapay, in the NetSuite Pay menu. Go to Settlement > Deposits. Select the deposit you want to view by clicking View. On the Items tab, you see all payments included in that deposit. On the Cash Back tab, you see the fees and fee types associated with that deposit.
To check Transaction fees that are billed by Versapay can be found under the following menu in NetSuite Pay:
Go to Transactions > Bank > Make Deposits > List
Click View on the deposit you want to view.
Click the Cash Back tab to see the fees and fee types associated with the deposit.
Can I use Settlement and Fee Reconciliation if I am not using Versapay?
No. This is only supported in NetSuite Pay.
What is automated by the Settlement and Fee Reconciliation process? Are there any manual steps I need to take?
Settlement and Fee Reconciliation automates the process of reconciling matching payments between NetSuite and the payment processor. It automatically creates deposits in NetSuite Pay. The only manual steps required occur when there are payments that do not match between NetSuite and the payment processor. To view the Open Settlement Report, go to NetSuite Pay > Daily Settlement Batch > Daily Settlement Exceptions List.
Are transactions that process through my SuiteCommerce site included in the Settlement and Fee Reconciliation?
Yes. SuiteCommerce transactions are included as they follow the same processing work as NetSuite payments.
Why am I missing today's Settlement and Fee Reconciliation report?
If you are missing a report for today, check your script configuration. See Scheduling the Daily Settlement Batch.
Why do I have settlement batch discrepancies?
Settlement batch discrepancies can occur when a transaction is present in the settlement batch that is sent to the processor, but does not exist in NetSuite.
An example of this would be: The transaction was processed external to NetSuite, possibly through a 3rd party shopping cart, yet flows through same merchant account that is configured in NetSuite. To resolve the discrepancy, you will need to create the transaction in NetSuite and allow the reconciliation to run again at its next interval. This will solve the discrepancy.
If this does not solve the discrepancy, contact NetSuite Support.
What is the difference between a settlement discrepancy and a credit card exception or chargeback?
A Settlement Discrepancy is a transaction that exists in the settlement batch, but does not exist in NetSuite, which creates a mismatch.
A credit card exception or chargeback, is when a customer files a dispute or chargeback to their card issuer regarding a specific transaction. This will appear as an exception in NetSuite.
Check any of these discrepancies by viewing the Open Settlement Report. Go to NetSuite Pay > Daily Settlement Batch > Daily Settlement Exceptions List. Click Edit on the batch in question to open the Resolve Settlement screen.
How often does the settlement and fee reporting process take place?
The settlement and fee reporting process is configured to occur every 6 or 12 hours in NetSuite Pay. You can choose which interval you prefer. If reporting is not displaying new transactions within 48 business hours, contact NetSuite support. The exception is Friday transactions may not display until Tuesday of the following week. For more information, see Scheduling the Daily Settlement Batch.
What does "transaction not found in ERP" error message mean for an open settlement discrepancy?
This means a payment transaction took place outside of NetSuite Pay and isn't recorded in NetSuite, but is reflected on the settlement data provided by the payment processor. If the payment record is not in NetSuite, the settlement will fail to match the gateway transaction against the non-recorded payments. If you manually edited a payment record in NetSuite, the auto-settlement will fail since the amounts do not match.
This means there is a discrepancy between NetSuite Pay and the settlement batch whichhar can be manually reconciled in the Open Settlement Report. Go to NetSuite Pay > Daily Settlement Batch > Daily Settlement Exceptions List. Click Edit on the batch in question to open the Resolve Settlement screen.
Can I update which GL Account in NetSuite to use for transaction fees?
Yes. To update the GL account associated with transaction fees, go to NetSuite Pay > Daily Settlement Batch > Settlement Fee Setup. Configure which fee type is associated with each GL account in NetSuite.
Where does the Batch Token and Payment Identifier originate from?
The batch token is a unique value assigned by our partner Versapay to each settlement batch. The payment identifier is a unique token that is assigned by Versapay to each payment transaction.
After I have resolved a batch settlement discrepancy, how do I force it to reconcile?
Resolve the discrepancy in the Open Settlement Report. Go to NetSuite Pay > Daily Settlement Batch > Daily Settlement Exceptions List. In the Open Settlement Report, make the necessary modifications, click Reconcile, then click Save. The next time the Settlement and Fee process runs, the record will be picked up and reconciled.