Version 5.4.0

Owned by Dennis van der Graaf (Unlicensed)
Last updated: Jun 29, 2021 by Radim Sacha (Unlicensed)
8 min read

General Release Information

The release 5.4.0 has been released on 28 June 2021 and contains several enhancements and bug fixes. Below you can find more information related to the changes and new features. We will update your Production account automatically and the Sandbox account can be updated from the customer's end at any given time.

Enhancements

BR-1096 Enhanced closed and locked accounting period posting

In this version we have introduced a completely new logic when reconciling transactions in closed or locked accounting periods. In the previous version, the Bank Reconciliation SuiteApp did only check if the period was fully closed and based on this fact would post in the period related to the bank statement transaction’s date or follow standard behavior defined in Netsuite’s accounting preferences (First Open Period or Current Period). The new logic will evaluate all scenarios if a posting is allowed or not and will from now on check on the subsidiary level if the posting is allowed on AP/AR or GL level. This new logic allows you to partially close a period without manually checking whether the system has posted into the locked period.

The general configuration has also been extended with additional preferences. In previous versions, the Bank Reconciliation SuiteApp did provide the option to override Netsuite permissions and allow posting in locked periods. The Suiteapp now allows the user to set that posting is allowed in locked accounting periods but limit this to only Non G/L Changes. With this additional configuration, the system allows the user to link transactions in locked accounting periods. These preferences can be found by navigating to SETUP->COMPANY->GENERAL PREFERENCES->CUSTOM PREFERENCES-> Fast Four Bank Reconciliation section. When no changes are made the system will follow the behavior as regular and provide the user onscreen error feedback that transactions are present in a closed or locked period that can’t be processed.

BR-1098 Support for fixed amount thresholds in payment difference reasons

In the previous version, the automation for payment different reasons - that can be set on each bank account’s configuration - did only support setting a threshold based on a percentage. From this version on we allow the user to set the threshold either as a fixed amount (absolute value) or as a percentage of the potential matched transaction’s amount. The logic stays the same - if the potentially matched transaction differs within the set threshold, it will be matched, mark as paid and the difference will be captured in a newly created Journal Entry posted against the GL account set on the Payment Difference Reason’s record.

BR-1066 New debit/credit identifier

This release introduces a new debit/credit identifier for CSV imports. The new identifier is “Debits, Credits” and can be found in the dropdown with the field label “Debit / Credit Identifier” on the bank account configuration page.

BR-1121 Option to process bank statements in a scheduled context

The Bank Reconciliation SuiteApp normally automatically decides if processing the submitted data on the bank statement can be done instantly or should be done scheduled in the background. The direct processing is handled by a user event script but that could interfere with custom user event scripts deployed on the user’s account, if there are any, and Netsuite would in that case skip the custom scripts and do not execute them on the newly created transactions created by the bank statement. Because of this limitation of Netsuite - that a user event script can’t trigger other user event scripts - we introduced this option to force the processing of bank statement data always via the scheduled processing flow. The scheduled processing doesn’t have the limitation. This parameter/preference can be set for each bank account configuration individually. On the bank account configuration, there is a new checkbox labeled “Process bank statement scheduled”. When checked, processing will always be in a scheduled context.

BR-1072 Enhanced filtering of transactions

The Bank Reconciliation SuiteApp uses several saved searches that allow the system to match automatically transactions and recommend transactions in the used pop-up screens. Netsuite has introduced over the time several new transaction statuses and not all of them has been taken into account correctly. Due to this, in certain situations, the system matched or showed transactions that weren’t in a status when the reconciliation should be allowed. All the used searches are reviewed and updated to exclude these kind of transactions. Some examples of added exclusions are:

  • Sales order pending approval

  • Bill canceled

  • Expense report pending supervisor approval

  • Expense report pending accounting approval

  • Expense report rejected by supervisor

  • Expense report Voided

  • Invoice pending approval

  • Invoice rejected

  • Journal rejected

  • Memorized

BR-1074 Extending the single value matching to support open transactions

The single value matching option allows users to match transactions on an isolated single value and is often used when working with high volumes of transactions per bank statement. The single value matching did only support matching against closed transactions. In this version, we have extended the matching to also match against open transactions. The option to reset the matching algorithm can be found on the deployment record of the script “BS MR Single Value Matching”. More information can be found on the page Single value matching.

BR-1097 Extending the single value matching to support payment different reasons

The single value matching has been extended also with support for payment different reasons. The applied payment different reason is pulled from the bank account configuration - preference AUTO-APPLY (UNDER-)PAYMENT DIFFERENCE REASON -evaluating the set threshold and using the payment difference reason. If the difference is within the threshold, the system will generate the transaction match and also the expected difference posting in separated Journal Entry. More information can be found on the page Single value matching.

 

Bug Fixes

BR-986 Declined payment batches

With the native Payment In Transit feature from Netsuite, the user had the ability to decline payments and the declined payments did show in the EFT payment popup. This version correctly filters these declined payments in the popup so that only correctly processed EFT batches can be reconciled.

BR-1007 Coda files are showing main and the details lines (CodaBox)

Coda files generated by CodaBox can contain in some cases a mainline that hold sub-lines that declare the details from the mainline. The previous version did import the main and the sub-lines what resulted into a double balance. This version resolves this and will only import the mainline.

BR-1010 Auto-apply payment difference reasons

The Bank Reconciliation Suite App provides the option to set payment difference reasons on a bank account configuration that the system will auto-apply when the difference between the transaction amount and amount on the bank statement is within the set threshold. In the previous version, this did result in a processing error that stated that “tid” was not defined. This version resolves this issue and will now process the line correctly and fully automatically.

BR-1024 Default AR account not respected

When the Bank Reconciliation Suite App creates a customer payment it did only use the fallback Accounts Receivable account that is defined on the bank account configuration. From this version on the logic will first check if the customer related to the transaction has a default AR account setup on its record and then use this value, otherwise it will fall back to the default AR account set on the bank account configuration.

BR-1037 Incorrect payment when auto-matching sales order

The system did create a payment in full when it was matching automatically on sales orders and did not create a deposit on the sales order for the actual credit amount on the statement. From this version the system will still match automatically on sales orders, but when the amount from the bank statement transaction line and the sales order isn’t equal the system will only recommend the transaction so that the user can decide what the actual posting must be.

BR-1043 Incorrect exchange rate with payment in transit transaction

When matching a payment that is in transit (native Netsuite feature) the system didn’t correctly set the exchange rate if this needed a recalculation and always defaulted to an exchange rate of 1. This version resolves this issue and will correctly set the actual exchange rate when a recalculation is needed due to FX differences that are within the predefined threshold.

BR-1052 Coda files are showing amounts incorrectly

The parsing logic used when extracting the data from the CODA file format did not capture the amount 0,01 correctly. System did enter this amount as 0,10. This version introduces a fix for this so that these amounts are now parsed correctly.

BR-1055 Voided transactions are matched

Netsuite provides the option to void transactions and the Bank Reconciliation SuiteApp didn’t see these transactions as voided and still did match or recommend them in the pop-up screen for manual matching. This version improves the filtering so that voided transactions are excluded from matching or recommendations in the matching pop-up screen.

BR-1057 Multi-line Journal feature show inactive accounts

The Bank Reconciliation provides an option to create from the statement a multi-line Journal Entry posting. In the pop-up where the user creates the lines the Suiteapp allowed to select an inactive GL account. This version introduces improved filtering that does exclude inactive GL accounts.

BR-1058 Overrule journal approval preference hidden by default

The bank account configuration provides the user the option to overrule the journal approval workflow. This option has been introduced in the past for Netsuite accounts that have enabled Netsuite’s Journal Entry approval routing, because the payment difference reasons reconciled in the bank statements could not be captured correctly due to the approval flow. In this version the Suiteapp checks whether the journal approval workflow feature is enabled in the Netsuite system. During creation or editing the bank account configuration the checkbox “Overrule journal approval” is only visible if the journal approval workflow feature from Netsuite is enabled.

BR-1076 Align selection option from the custom matching rules

The custom matching rule feature allows users to create rules that pre-set information on the bank statement transaction line when a match is found. In the setup, the system provides the option to set a default for an account or name (entity). The options provided were not equal to the options provided on the bank statement transaction line. In this version, we have made aligned the filters on the custom matching rule so that the user has here the same selection options compared to the bank statement transaction line.

BR-1083 GL account number not visible in the multi-line journal pop-up

In the multi-line Journal pop-up where the user creates the lines, the Suiteapp showed the GL accounts without the numbering, despite having the native accounting preference enabled. In this version we enhanced the selection field so that it does show to the user the GL account number and name of the account.

BR-1087 Correct Netsuite balances

The Bank Reconciliation SuiteApp provides the option to correct the amounts of the “Bank Balance Netsuite” field for multiple bank statements at once. The process is triggered by pressing the button “Correct Netsuite Balances” on a bank statement from where the correction should start. This button is visible if enabled in the General preferences.

BR-1091 MT-940 import skips transaction's line

The Bank Reconciliation Suite App allows the user to import MT-940 files that contain bank statement transaction data. In certain situations, it could happen that the MT-940 files contained special characters that weren’t correctly escaped in the MT-940 file. In this version, we have built an additional parsing logic that will escape the special characters so that all transaction lines are imported as expected.

BR-1105 Default AP account not respected

When the Bank Reconciliation Suite App creates a vendor payment or deposit it did only use the fallback AP account that is defined on the bank account configuration. From this version the Suiteapp will first check if the vendor related to the transaction has a default AP account setup and use this account, otherwise it will fall back to the default AP account set on the bank account configuration.

BR-1127 OFX Support for additional transaction types added

The OFX file template has been extended so it also supports the following transactions type tags:

  • DIRECTDEP (credit)

  • INT (credit)

  • REPEATPMT (debit)

  • FEE (debit)