Automated Cash Application
You can import bank lines that do not have matching customer payments in NetSuite. The Automated
Cash Application feature lets you automatically generate a batch of missing general ledger customer
payments in NetSuite and apply them to open invoices. If you receive a high volume of customer payments daily, this feature helps you apply them to open accounts receivable accounts in bulk. You can automate cash application at Transactions > Bank > Automated Cash Application. Alternatively, if you are matching transactions on the Match Bank Data page and want to automatically generate customer payments, click Automated Cash Application in the top-right corner. For permission details, see Setting Permissions and Restrictions. The Automated Cash Application feature enables you to do the following:
- View all imported bank lines with a positive amount that have not been matched with a corresponding account transaction. If you match an account transaction on the Match Bank Data page, the corresponding imported bank line no longer appears on the Automated Cash Application page.
- View the name of the customer to which each imported bank line belongs (or possibly belongs). The system can automatically assign a customer to a bank line using an exact match, partial match, or
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preferred match. If no match is achieved, you can select a customer. See the help topic Customer Match Criteria.
- Create customer mapping rules that the system can remember and use to map customers to future incoming payments. See step 6 in Generating Customer Payments.
- View the invoice to which an imported payment belongs. If the imported payment does not specify an
invoice number:
- NetSuite provides a list of suggested invoices to which the payment can be applied.
- After you click Generate Payments, the system applies the payment to the invoice with an amount due equal to the payment amount. If multiple invoices have the same amount as the payment, the system applies the payment to the oldest invoice. You can change this behavior by setting the Apply Payments Without Invoice Numbers preference at Setup > Accounting > Accounting Preferences.
- View the payment amounts applied to each invoice, if a customer has multiple open invoices. The system automatically allocates amounts to invoices based on the payment amount. You can adjust these amounts on each invoice. See the help topic Generating Customer Payments.
- Include or exclude open invoices for a customer from the payment application. See the help topic Viewing Open Invoices for a Customer.
- Automatically match and clear general ledger customer payments with your imported bank lines. When the system generates customer payments, the system automatically clears and removes the payments from the Match Bank Data page. You can reconcile the payments on the Reconcile Account Statement page. See the help topic Reconciling Transactions. For information about the Automated Cash Application feature, see the help topic Automated Cash Application. Enhancements to Matching and Reconciliation
Bulk Matching
The Match Bank Data page now includes a Select All box. This box lets you check or clear all the boxes for all items visible in the current page of the Account Transactions grid. The matching drawer and the popup windows for viewing matched or cleared transactions are now paginated. Consequently, you can find transactions with limited scrolling. For large numbers of transactions, pagination can help improve performance, because the browser does not have to display all selected transactions at once. The Number of Rows In List Segments preference determines how many rows the matching drawer can display per page. Each page in the matching drawer can display a maximum of 500 rows at a time.
Automatically Clear Held Transactions
Previously, when migrating a held statement from the original reconciliation pages to the redesigned pages, you had to clear all transactions on the Match Bank Data page.
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Note: A held statement is one you have begun to reconcile but have chosen to complete later. The system automatically clears all held transactions and displays them on the Reconcile Account Statement page. To reconcile the transactions, see the help topic Reconciling Transactions.
Warning: The Reconcile Bank Statement and Reconcile Credit Card Statement pages are still
functional but are no longer supported. If your accounts still use these pages, you should edit your accounts to use the Match Bank Data and Reconcile Account Statement pages. For details, see the help topic Editing an Account.
Enhancements to Navigation
The Reconcile Account Statement page now includes links to the Match Bank Data and Reconciliation Summary pages. When you select an account on the Reconcile Account Statement page, you can click the following links:
- Match Bank Data - View the imported bank lines and corresponding account transactions to match for your account. If you did not select an account on the Reconcile Account Statement page, the account field and data grids are not populated.
- Reconciliation Summary - View a reconciliation summary for the account.
Enhancements to Adding Transactions
Prior to this release, when adding a new transaction on the Match Bank Data page, the Payor list
did not display all types of entities. Now, the Payor list includes the types of entities available for the corresponding transaction. Newly created transactions now appear at the top of the list in the matching drawer. For information about adding transactions on the Match Bank Data page, see the help topic Manual Creation of Account Transactions During the Matching Process.