Introduction
Bank reconciliations in NetSuite can look accurate when the reconciliation summary shows a zero difference. However, the general ledger (GL) account may still not match the bank statement balance. This mismatch often comes from transaction-level errors, where reconciliations are either forced to balance or excluded.
This article shows how to use two key NetSuite reports to spot transaction discrepancies, find the root cause of GL and bank mismatches, and start troubleshooting account reconciliation issues.
1. Unreconciled Transactions
Navigate to Transactions > Bank > Reconcile Account Statements
Select the correct bank account. The bottom of the screen lists transactions that remain unreconciled. If a transaction’s date is on or before the most recent reconciliation date, it was not included and may explain why the GL does not balance.
2. Uncleared Transactions
Navigate to List > Accounts > Select the bank account register that is out of balance.
In the account register, use the Cleared checkbox at the bottom of the filter area. When checked, only uncleared transactions appear. These items can also cause your account to fall out of balance.
Look for date ranges where multiple transactions remain unreconciled or uncleared. These dates often reveal issues that align with bank statement import errors or data entry gaps.
Conclusion
Transaction-level issues often cause NetSuite bank reconciliations to appear balanced while leaving the GL account off. Regular audits for unreconciled and uncleared transactions help accounting teams find hidden reconciliation errors, correct bank statement mismatches, and maintain accurate financial reporting.
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