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Now save the new Payment File Administration field by pressing the blue button labeled “Save”. The new field is now created and can be used by the Bank Reconciliation Suite App
Reconciling
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Batches
Depending on your bank and “Payment File Template” settings the bank will provide feedback as one mainline or as individual transaction lines. Below we will explain the best practice for both scenarios.
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On the bank statement line, there is a column labeled “Alt Match Type”. If you select this field on the bank statement you will get a dropdown with several options. One of the presented options is “Netsuite Electronic Payment Batch”. When you select the option the Bank Reconciliation Suite App will show a pop-up. This pop-up will provide an overview of all the batches that aren’t reconciled yet in your Netsuite system. The “Select Match” pop-up will filter the batches automatically based on the debit/credit identifier on the bank statement line. So when the line is debit the system will only show batches containing outgoing payments. When the line is a credit line it will only show Direct Debit batches.
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In the pop-up that opens you simply select the batch that is equal in amount. When reconciling a batch the amount must always be 100% equal to the amount from the statement line and you can only reconcile one batch. So in the “Select Match” pop up the value in the field “Amount” and “Total Selected” must be equal.
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After selecting the applicable EFT Batch you can press the blue button “Submit”. When saving the statement our solution will automatically reconcile the EFT Payment batch. If the batch is created with the native “In Transit” feature from Netsuite then the Bank Reconciliation Suite App will automatically transform each transaction from “In transit” to “Paid in full” and will also handle the correct posting in Netsuite.