...
| Table of Contents |
|---|
...
Introduction
During an import, the Bank Reconciliation offers the option to match automatically against unreconciled transactions. The matching algorithm that is used, can be defined for each bank account configuration individually. When the matching rate isn’t as expected, the first step is to start identifying why this happens. The matching logic works with a fixed logic and due to this is often easy to identify why the system wasn’t able to identify the expected transaction. We recommend in this situation to start with creating a document where mismatches are recorded with detailed information on why it did not match. After a certain period, this document should give insides in which situations are most often encountered, and based on this information a next enhancement step can be taken.
...
Statement ID/Link | Line number | Reason Reasons why it didn’t match | Reaons Reasons why it did select an incorrect transaction |
|---|---|---|---|
Example ID 1 | 12 | Invoice number prefix was not present in the bank description | |
Example ID 4 | 5 | Invoice number was only the last 5 digetsdigits | |
Example ID 6 | 3 | Incorrect amount was paid | |
Etc. | Etc. | Etc. |
...
The rules the Bank Reconciliation provides are explained on the setup record, but this information can also be retrieved by triggering the field level helped help from the checkbox. To trigger this simply click on the field name.
...
The most common reasons we see as Fast Four are explained below with a suggestion to improve the matching rate.
Investigation incorrect match
When an incorrect match is encountered the first step is checking which setting was responsible for this match. Each bank statement transaction line holds a column that explains why a line did match. Based on this information the user can check if the enabled option does make sense or could investigate what could lead to the outcome data or data present in the description is resulting in an unexpected match of that information inside Netsuite is too general.
...
Resolve no matching
The transaction number in the description from the bank is not containing the prefix used in Netsuite
An example for this would be: INV-000123 is in the description from the bank actually 000123. In this situation, an option could be to extend the Netsuite system and the bank reconciliation matching parameters. We only recommend taking this action when there are multiple occurrences present in the created insights document. Creating this additional matching option exists out of 2 steps.
...