Settlement Discrepancies Resolution in NetSuite Order Management

Encountering settlement discrepancies in NetSuite can disrupt your payment processes. The Settlement and Fee Report provides critical insights when discrepancies arise. Specifically, records showing Retry indicate missing matching payments from the bank settlement within the NetSuite system.

To view and manage these discrepancies, navigate to NetSuite Pay > Daily Settlement Batch > Settlement and Fee Report. When a discrepancy is detected, select Retry to initiate an automated reconciliation attempt. If the automated process fails to find a matching payment, it will note the discrepancy, requiring manual intervention or support from NetSuite to address any recurring issues. Only when a matching payment is found will a deposit be created in the system.

Key Considerations

• Undeposited Funds: Discrepancies often occur if the failed transaction has already been moved from Undeposited Funds to another General Ledger (GL) account. Transactions not residing in Undeposited Funds cannot be reconciled within the system. If this situation arises, you must first transfer the relevant transactions back to Undeposited Funds before selecting Retry again.
• Manual Resolution: Persistent discrepancies, particularly those not resolved through automated methods, may necessitate contacting NetSuite support for further assistance.

Tip

Ensure that any transactions needing reconciliation remain in Undeposited Funds for the automated reconciliation process to work correctly.

By understanding and addressing these settlement discrepancies promptly, businesses can maintain accurate accounting records and ensure smoother financial operations within NetSuite.