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Bank Reconciliation in NetSuite

edited Apr 30, 2020 12:12AM in Ask A Guru 2 comments

As of NetSuite 2019.2, there are two ways of reconciling bank and credit card accounts:

1. Reconcile Bank Statement or Reconcile Credit Card Statement (old way)

  • Navigational path: Transactions > Bank > Reconcile Bank Statement or Reconcile Credit Card Statement
  • Manual reconciliation of Bank Statement against the Bank/Credit Card Account Register
  • Makes use of the Account Register to clear transactions and to identify cleared transactions that is up for reconciliation
  • Has the History button to show all Periods reconciled and to check differences

2. Reconcile Account Statement and Confirm Transactions Matches (new way)

  • Navigational path: Transactions > Bank > Reconcile Account Statement
  • Makes use of importing the Bank Statement (CSV, BAI2, QFX files) via Import Online Banking Data page

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