Reconciling Transactions

After submitting transactions that have been matched or marked as cleared pending submission, you can reconcile your account statement at Transactions > Bank > Reconcile Account Statement.

If you check or clear the box next to each transaction on the Reconcile subtab, NetSuite saves your work for the account as you go. You can choose to leave the page and complete the work at a later time. When you come back to the page and select the account, the page shows the work in progress.

If you change the amount of a previously reconciled transaction, the transaction becomes unreconciled again. Open the correct statement period for the transaction and reconcile the transaction again.

To troubleshoot reconciliation issues, see Troubleshooting Reconciliation Issues.

If you reconcile a statement but then receive more transactions that you want to include in that statement, you can delete the reconciled statement for that period and start over. See Deleting Reconciled Statements.

You can view account reconciliation reports for reconciled statements. See Account Reconciliation Reports. To print the reports, see Printing Reconciliation Reports.

Note:

If you change the account of the transaction, the transaction does not become unreconciled.

To reconcile a statement:

Go to Transactions > Bank > Reconcile Account Statement.
From the Account list, select the bank or credit card account, if not already selected..

Note:
As of NetSuite 2021.1, all newly-created accounts automatically appear in the Account list. If your account does not appear, see Editing Accounts to Use the Match Bank Data and Reconcile Account Statement Pages.

NetSuite displays the currency for the selected account.

In the Statement End Date and Ending Statement Balance fields, NetSuite displays the end date and closing balance from the most recent account statement containing a statement date.

Note:
If no account statements contain a statement date, the Statement End Date field is populated with the current date. The Ending Statement Balance field is populated with the closing balance from the last reconciliation statement.
If not already selected, in the Statement End Date field, enter or select the end date.

Note:
If you receive more transactions for a reconciled date range, and you want to include them, delete the reconciled statement and create a new reconciliation. To delete the reconciled statement, see Deleting Reconciled Statements. We recommend choosing a Statement End Date in the past (for example, the day before the current date).
In the Ending Statement Balance field, enter or edit the closing balance on the statement, if required.

The field is populated with the ending balance from the imported statement, if available.

The Last Reconciled Balance field provides the balance of this account from the last reconciled statement.

NetSuite updates the Reconciled This Statement field as you include or exclude transactions in the Reconcile subtab.
If not already open, click the Reconcile subtab.

NetSuite displays the list of submitted account transactions that have been cleared in the system and are ready for reconciliation. The Reconcile subtab displays transactions processed on the Match Bank Data page.

Note:
As of NetSuite 2021.2, when you edit your account to use the redesigned reconciliation feature, any previously-held transactions are automatically cleared and appear in the Reconcile subtab. See Editing Accounts to Use the Match Bank Data and Reconcile Account Statement Pages.
To filter the list of transactions:
- To set the date range for transactions in the list, enter or select the dates in the From and To fields at the top of the pane.
- From the Type list, select a transaction type.
- To switch from a list of all transactions to only the included transactions, click Show Included Only.
- In the Search field, start typing the text or number value on which to search. As you type, NetSuite narrows the search results in the list.
  
  When entering a date, use a date format consistent with the displayed format in the page (as set in the User Preferences). For example, if you use a long date format (May 1, 2018), enter May to search for a date in May. When entering a year, use four digits (for example, 2018). If you use a short date format, always use two digits for the month or day (for example, 05/01/2018).
- To sort by column, click the column header.
If the number of transactions in the list exceeds the page limit, click the arrows to see the next or previous page of results.
To include or exclude all of the transactions, check or clear the box in the column header.

If filters are active, checking the box selects all the filtered transactions on all pages. If one of the filtered and selected transactions are part of a match group, all transactions in the group are included as well.

For example, if you filtered the list by a date range and type, the filtered transactions and their match groups are selected on all the pages.
To include or exclude a transaction from the statement, check or clear the box next to the transaction.

Note:
If a transaction is part of a match group that contains multiple NetSuite transactions (a one-to-many or many-to-many match), you cannot exclude it. The check box is unavailable.

Excluded transactions retain their matches and cleared status, but NetSuite excludes them from the reconciliation.

NetSuite only reconciles the included transactions.

Tip:
To switch from a list of all transactions to only the included transactions, click Show Included Only.
Ensure that all the transactions you want to reconcile are selected, and then click Reconcile. You can reconcile a statement, even if there is an amount difference.

NetSuite displays the Close Statement popup window.

Warning:
You cannot change the Statement End Date later. This date becomes the Close Date, which NetSuite uses to run the Reconciliation report and Reconciliation History report.

If you reconcile a statement with the end date as the current date, and then receive more transactions later that day, you cannot choose these transactions for the next reconciliation statement. To avoid this situation, choose a Statement End Date in the past (for example, the day before the current date).
Click OK.

NetSuite redirects you to the Reconciled Statements list page.

To reconcile a statement:

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