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Bank Reconciliation in NetSuite
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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