NetSuite bank reconciliation from a saved search export
Finance teams on NetSuite often reconcile many accounts across subsidiaries, with statements in different formats. BankReconciler takes a saved search export and any statement format and gives you the exceptions in minutes.
Subsidiaries, March
5 accounts
| Subsidiary | Bank account | Difference |
|---|---|---|
| US OperationsOperating 4410 | Operating 4410 | 0.00 |
| US OperationsPayroll 4420 | Payroll 4420 | 0.00 |
| CanadaCAD Operating 7710 | CAD Operating 7710 | -312.40 |
| UKGBP Collections 9020 | GBP Collections 9020 | 0.00 |
| UKGBP Payments 9030 | GBP Payments 9030 | In progress |
Build the saved search once
- Create a transaction saved search with criteria Account equal to the bank account and Posting set to true.
- Add result columns Date, Document Number, Type, Name, Memo and Amount.
- Add a Subsidiary filter if you run more than one entity.
- Run it for the statement period and export it as CSV.
- Upload the CSV as Your books, next to the statement.
Save the search and reuse it every month with a new date range.
Many entities and accounts
- One workspace per subsidiary or per legal entity
- Every bank and card account with its own monthly status
- MT940 and CAMT.053 statements read as easily as PDF and CSV
- Reviewer sign-off per period on the Firm plan
What the controller gets
A list of exceptions per account instead of a full ledger to tick, the adjusted balances, and a report for each account and month that goes straight into the close binder. See the monthly reconciliation report.
NetSuite questions
Does BankReconciler replace NetSuite bank reconciliation?
It does the matching and the report outside NetSuite. You still mark the period reconciled in NetSuite, using the lists BankReconciler produces.
Can it handle accounts in other currencies?
Yes. Each account is reconciled in its own currency, as shown on the statement.
Run your first NetSuite bank reconciliation
Upload a statement and the saved search export.