Settlement Discrepancies in NetSuite Pay for 2026.1

Starting in NetSuite 2026.1, the Settlement and Fee Report in NetSuite Pay includes improved handling for settlement discrepancies. This feature allows users to easily identify and resolve issues when a matching payment from the bank settlement is not found in NetSuite. Understanding how to navigate this process is crucial for efficient financial management within your organization.

Overview of Settlement Discrepancies

When reviewing the Settlement and Fee Report, discrepancies are marked with 'Retry.' This indicates that a payment matching the bank's deposit record could not be found within NetSuite. Here’s how you can effectively manage these discrepancies:

1. Access the Report: Navigate to NetSuite Pay > Daily Settlement Batch > Settlement and Fee Report.
2. Initiate Reconciliation: To resolve a discrepancy, select 'Retry' to trigger an automated reconciliation process. This will once again search for a matching payment.
3. Manual Resolution: If after selecting Retry no matching payment is identified, you must either manually address the discrepancy or reach out to NetSuite support if this issue persists. If a match is found, NetSuite will automatically create a deposit associated with that payment.

Common Causes for Settlement Discrepancies

Settlement discrepancies can arise from several scenarios:

• Transaction Status: A common cause is when a transaction has already been transferred from Undeposited Funds to another General Ledger (GL) account. Transactions that are not in Undeposited Funds cannot be reconciled automatically.
• Resolution Steps: To correct this issue, simply move the affected transactions back to Undeposited Funds before initiating the Retry process.

Best Practices for Managing Settlement Discrepancies

• Regular Monitoring: Frequently check the Settlement and Fee Report to swiftly identify and address any discrepancies.
• Ensure Transaction Integrity: Maintain careful records of transaction statuses to avoid moving funds prematurely.
• Utilize Support Resources: Don’t hesitate to contact NetSuite support if you frequently encounter issues, as they can provide guidance tailored to your setup.

Who This Affects

• Administrators: Oversee the reconciliation process and manage system settings.
• Accountants: Responsible for ensuring accurate financial reporting and handling discrepancies.
• Financial Analysts: Analyze settlement data for reporting and decision-making purposes.

Key Takeaways

• The 2026.1 update introduces streamlined processes for handling settlement discrepancies in NetSuite Pay.
• A discrepancy marked as 'Retry' indicates no corresponding payment was found; automatic reconciliation can be attempted.
• Transactions moved from Undeposited Funds cannot be reconciled automatically; manual intervention may be necessary.
• Regular monitoring and accurate record-keeping are essential for effective financial reconciliation.