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NetSuite Admin Tip | Reconciliation Rules Hierarchy
Reconciliation rules are predefined guidelines within accounting systems that automate the process of matching financial records, such as bank statements and general ledger accounts. These rules help identify discrepancies and resolve conflicts, ensuring the accuracy and integrity of financial data.
Implementing reconciliation rules offers several benefits, including increased efficiency and time savings by reducing manual effort, minimizing human errors for more consistent and reliable reconciliation, providing real-time insights into potential issues for faster decision-making, and ensuring compliance with accounting standards and regulations.
In NetSuite, for Reconciliation Rules to run successfully, the following hierarchy must be followed:
- The reconciliation rules must be
Jeanne Padilla | General Accounting and Asset Management
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