Intelligent Transaction Matching for Bank Data

When bank data is imported into NetSuite or you manually run reconciliation rules, the Intelligent Transaction Matching feature matches imported bank data with account transactions. For details on importing bank data, see Bank Data Import. For information about running rules against imported data, see Manually Running Reconciliation Rules.

Intelligent Transaction Matching runs two types of rules against newly imported bank lines (except for in-transit payments) to accomplish this:

Note:

Intelligent Transaction Matching does not run rules against account transactions. Any account transactions that are currently matched cannot be matched again, regardless of their reconciliation state.

For details on how NetSuite uses system and user matching rules to group transactions, see Grouping Multiple Transactions.

To view automatically matched transactions, go to Transactions > Bank > Match Bank Data and then click Review.

Note:

If a rule identifies two or more possible transactions in NetSuite to match, the system cannot perform a transaction match. The system is unable to know which transaction to match, so you need to manually match the appropriate transaction, instead.

Here’s an example where a manual match is needed: An imported bank deposit has an amount of $70 and a date of 03/22/2023. NetSuite contains two transactions that are possible match candidates: a $70 deposit with a date of 02/14/2023 and a $70 deposit with a date of 01/16/2023. Because the transactions have the same amount and are at or before the date of the imported bank deposit, both meet NetSuite's match criteria. Due to this ambiguity, the system cannot choose one transaction over the other. Instead, you need to determine the appropriate choice and perform a manual match.

On the Review subtab, each line item is a group of matched transactions. By default, all line items are collapsed. To view the individual transactions in the group, expand the line item.

In-Transit Payment Matching

In-transit payments are non-posting and thus are ineligible for matching using system or user rules. Instead, Intelligent Transaction Matching matches in-transit payments using a built-in rule that is not visible to you. This rule requires the transaction number and amount of the in-transit payment to match those of the imported bank line. In addition, the imported bank line must be a Payment type.

For more information on in-transit payments, see In-Transit Payments.

To enable the In-Transit Payments feature, see Enabling the In-Transit Payments Feature.

Related Topics

Bank Data Matching and Reconciliation
Permissions for Banking Features
Reconciling Bank and Credit Card Statements
Account Reconciliation Reports

General Notices