Matching Bank Data
When you import bank data into NetSuite, the Intelligent Transaction Matching feature does the following, based on your reconciliation rules:
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Automatically matches the imported bank lines with the existing account transactions in NetSuite.
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Automatically creates and matches account transactions with imported bank lines.
For details, see Intelligent Transaction Matching for Bank Data.
For any unmatched transactions, filter the grids and manually match them. If some account transactions don’t have a matching imported bank line, you can mark them as cleared.
Before matching your data, first use the Automated Cash Application feature to generate and match customer payments from imported bank lines. For more information, see Automated Cash Application.
NetSuite clears the matched or cleared status from a transaction—and any in its group—if you do any of the following:
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Edit the transaction amount.
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Void the transaction without a reversing journal entry. If you void the transaction with a reversing journal entry, the transaction remains matched or user-cleared.
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Delete the transaction.
To match and reconcile custom transactions, go to Accounting Preferences and then check the Show All Transaction Types In Reconciliation box. See General Accounting Preferences.
To match imported bank lines with account transactions:
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If you haven't already, import your bank data (see Bank Data Import).
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Go to Transactions > Bank > Match Bank Data.
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From the Account list, select the bank or credit card account for which you want to perform matching, if not already selected.
Note:As of NetSuite 2021.1, all newly-created accounts automatically appear in the Account list. If your account doesn't appear, see Editing Accounts to Use the Match Bank Data and Reconcile Account Statement Pages.
The following fields are populated:
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Subsidiary (if applicable).
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Bank Balance, if your most recent account statement contains an account balance and statement date.
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Balance As Of, if the statement contains a statement date.
If NetSuite failed to import data for the account, a popup displays the most recent error. For more error details, go to Transactions > Bank > Banking Import History.
If NetSuite successfully imported data, the grids are filled with the imported bank lines and account transactions that still need manual matching.
Note:Any bank lines that were processed from the Automated Cash Application page no longer appear on the Match Bank Data page. The corresponding customer payments are automatically cleared in the system and ready for reconciliation.
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In the Account Transactions grid, identify in-transit payments by looking for the
icon in the row. One or more in-transit payments must be matched with only one imported bank line. For more information about in-transit payments, see In-Transit Payments. To enable the In-Transit Payments feature, see Enabling the In-Transit Payments Feature.
Note:The system uses a built-in rule to automatically match an imported bank line with an in-transit payment if the following criteria are met:
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The transaction numbers exactly match.
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The dollar amounts exactly match.
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The imported bank line is a Payment type.
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To filter the grids, see Filtering Imported Bank Data and Account Transactions.
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If you require more information about the account transactions, click the links in the Account Transactions grid. See Viewing Details of Account Transactions.
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On the To Be Matched subtab, match transaction items:
Note:Dimmed bank lines are still processing. You can’t check the box next to them until they’re done. To check, refresh the Imported Bank Data grid.
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Check the box for one or multiple transactions from the Imported Bank Data grid, and then select one or multiple transactions from the Account Transactions grid. To check or clear all the boxes for transactions visible on the current page of the Account Transactions grid, use the box in the grid header.
Note:The Imported Bank Data grid header has a similar box. Only use it if you want to match all visible transactions as one group, or exclude all at the same time.
Tip:To avoid slowdowns or timeouts with lots of transactions, make smaller match groups instead of matching everything at the same time.
For details about the type of matches you can perform, see Bank Transaction Matching Types.
As you select transactions, NetSuite displays them in the bottom section and updates the Difference field.
If there are too many items in the bottom section, use the arrows to see more results. The Number of Rows In List Segments setting controls how many rows display (up to 500 per page).
Tip:If you’re missing an account transaction, you can quickly add and match it right from this page. See Manual Creation of Account Transactions During the Matching Process.
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When the difference between the selected imported bank line items and account transactions is zero (in the Difference field), click Match.
If the Make Auto-Create Rule from Selected Transactions box is active, the system creates an auto-create rule. The next time reconciliation rules run, NetSuite creates and matches corresponding transactions automatically. See Automatic Creation of Account Transactions.
NetSuite removes the matched transactions from the To Be Matched grid.
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If some account transactions don’t have a matching imported bank line, you can mark them as cleared. See Marking Transactions as Cleared.
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To exclude imported bank line items from the matching process, see Excluding Imported Bank Lines From the Matching Process.
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To complete matching later, you can go to another page.
NetSuite automatically saves the work for the account as you go.
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When you finish matching transactions and marking transactions as cleared, submit them. See Submitting Matched or User-Cleared Transactions.
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(Optional) To view transactions pending submission, click the Review subtab. See Viewing Transactions To Be Submitted.