1. Accounting
  2. Banking
  3. Bank Data Matching and Reconciliation
  4. Reconciling Bank and Credit Card Statements
  5. Submitting Matched or User-Cleared Transactions

Submitting Matched or User-Cleared Transactions

When you finish matching and marking transactions as cleared, submit them and continue to the reconciliation process.

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.

If you use the In-Transit Payments feature, NetSuite also converts the in-transit payments to confirmed payments. For details, see Enabling the In-Transit Payments Feature.

Important:

NetSuite removes the cleared or matched status from a transaction (and any other transactions from its match group) if you do any of the following:

  • Edit the transaction amount.

  • Void the transaction without a reversing journal entry. If you void the transaction with a reversing journal entry, the transaction remains matched or user-cleared.

  • Delete the transaction.

To submit transactions:

  1. Go to Transactions > Bank > Match Bank Data.

  2. From the Account list, select the bank or credit card account for which you want to submit matches, if not already selected.

  3. To see the grid of pending account transactions you can submit, click the Review subtab.

    NetSuite displays all transactions pending submission, which can include the following:

    • Automatically-matched transactions that were not generated using the Automated Cash Application feature.

      Note:

      When a customer payment is generated using the Automated Cash Application feature, it is automatically matched, submitted, and ready for reconciliation. The transaction appears on the Reconcile Account Statement Page, in the Review subtab.

      Transactions that are automatically created and matched by an auto-create rule are indicated by the label, To Be Generated. These transactions are generated in your general ledger account when you click Submit.

    • Manually-matched transactions.

    • User-cleared transactions.

    For more information, see Viewing Transactions To Be Submitted.

  4. After reviewing matched or user-cleared transactions, select the ones you want to submit—even if they’re on different pages of the transaction grid. When you’re ready, click Submit. Selections persist as you move between pages, so you can submit all selected transactions at the same time.

    You can use the following options to help you select transactions for the Submit action:

    • Select Matched Transactions – Selects all matched transactions on the current page. You can deselect them by clicking Deselect Matched Transactions.

    • Select Cleared Transactions – Selects all user-cleared transactions on the current page. You can deselect them by clicking Deselect Cleared Transactions.

    • Box in header – Selects all transactions on the current page.

    • Selection boxes – Selects transactions using the boxes next to each transaction.

    You can also use these options to help you select transactions for the Undo Selected action, if you want to undo a matched or user-cleared transaction.

    NetSuite processes and clears your submitted transactions. If you use the In-Transit Payments feature, NetSuite also converts the in-transit payments to confirmed payments. This may take some time.

    If transactions labeled To Be Generated fail to be submitted, see Troubleshooting Automatic Transaction Creation Rules.

    Tip:

    To view the processing status of your batch of transactions, go to Transactions > Bank > Match Bank Data > Status.

  5. When processing completes, click Reconcile Account Statement in the upper right-hand corner of the page. See Reconciling Transactions.

Related Topics

General Notices