NetClose - Auto-Reconciling Bank and Credit Card Accounts Using NetCash
Overview
Similar to how NetClose can auto-reconcile AP, AR, and Amortizations, NetClose can use completed NetCash bank and credit card reconciliations to auto-reconcile the corresponding accounts in NetClose Reconciliations. Once configured, NetClose automatically pulls each fully reconciled NetCash period-end record into the NetClose recon and uses the NetCash GL balance to close the NetClose unexplained balance.
This adds NetCash recons to the NetClose close workflow, so month-end balance sheet reconciliations live in the close management tool for audit purposes. NetCash remains the system of record for bank reconciliation work; NetClose reflects the result and provides the audit narrative.
Prerequisites
Before using this feature:
- NetCash must be installed in the NetSuite account.
- NetCash reconciliations for those GL accounts must be completed (status Complete or Auto-Reconciled) and dated to the NetClose period end.
Step-by-Step Process
1. Configure the Reconciliation Rule
- Navigate to NetClose > Setup > Reconciliation Groupings & Rules and open the Reconciliation Rule that covers your bank and credit card accounts in NetClose.
- Under Mapped Accounts, ensure the appropriate bank and credit card GL accounts are selected.
- In the Reconciliation Method field, select Ending Balance.
- In the Auto-reconciliation Rules - Modules field, select NetCash Bank/Credit Card Reconciliations.
- Click Save on the rule.
Module Visibility
The NetCash Bank/Credit Card Reconciliations option appears in the Modules dropdown only when NetCash is installed in the same NetSuite account. If you do not see the option, verify the NetCash SuiteApp is installed.
2. Generate Reconciliations for the Period
Generate NetClose reconciliations for the close period using the standard reconciliation generation flow. NetClose creates a Reconciliation record for each rule.
3. Complete Bank and Credit Card Reconciliations in NetCash
In NetCash, complete the period-end reconciliation for each bank and credit card GL account that appears in the NetClose rule's account grouping. The NetCash Reconciliation Date must match the NetClose period end date exactly. If there is a reviewer on the account, make sure the reconciliation is submitted for review and marked complete.
4. Run Auto-Reconcile in NetClose
- Navigate to NetClose > Reconciliations > Auto Reconcile.
- Filter by the appropriate account group(s), select the reconciliation(s), and Submit.
NetClose will:
- Query NetCash for completed recons matching the rule's GL accounts and period end date.
- Generate an Excel workbook documenting the NetCash data and attach it to a NetCash Bank/CC Reconciliations explained item on the NetClose recon.
- If the bank or credit card currency differs from the subsidiary currency, create a second FX Difference explained item to capture the currency translation difference.
- Set the NetClose recon to Auto-Reconciled when the item amount fully covers the GL ending balance.
5. Open the NetCash Workspace from the NetClose Dialog
The NetClose Reconciliation dialog displays a green NetCash badge next to the recon's status when the recon uses the NetCash Bank/Credit Card Reconciliations module. Click the badge to open the NetCash bank app's reconciliation list filtered to the relevant bank accounts and date range.
Output and Auto-Reconciliation Behavior
Excel evidence file
The auto-reconcile process attaches an Excel file named {Recon Name}_NetCash.xlsx to the NetClose recon. Select the download icon to download and view the file.
The file has two sheets:
- Summary Page lists each reconciled GL account with its NetCash bank account names, GL balance, and status. A totals row shows the sum of NetCash GL balances, the FX Difference, the GL Timing Difference, and the total in subsidiary currency.
- Detail Page lists every GL account in the rule's account grouping (whether or not it reconciled in NetCash), with the NetCash bank account names, status, bank balance, GL balance, GL balance in subsidiary currency, outstanding bank, outstanding GL, and a direct link to the NetCash reconciliation. GL accounts without a completed NetCash recon for the period show No Recon Found and link to the NetCash reconciliation list.
Auto-reconciliation explained items
Auto-reconcile creates up to three explained items on the NetClose recon:
- NetCash Bank/CC Reconciliations - Amount equals the sum of NetCash GL balances (in bank or native currency) across all reconciled accounts in the grouping.
- FX Difference - Created when the bank or credit card currency differs from the subsidiary currency. The amount equals the GL balance in subsidiary currency minus the GL balance in bank or native currency, summed across reconciled accounts.
- GL Timing Difference - Created when the period-end GL balance differs from the current GL balance in subsidiary currency. Captures transactions posted to the GL after the period end date that have shifted the current balance away from the period-end snapshot. NetClose books the difference as an explained item so the recon nets to the period-end GL balance.
All three items are managed together on each auto-reconcile run. If FX rates change or post-close GL activity is reversed so that the difference is eliminated, the stale item is removed on the next run.
Why FX Difference exists
A completed NetCash reconciliation indicates that every bank transaction has been matched to its corresponding GL transaction. In that state, any remaining gap between the bank-currency total and the subsidiary-currency GL ending balance is currency revaluation. NetClose books this gap as a separate FX Difference explained item so the NetClose recon auto-reconciles without manual intervention, and so the FX impact is visible and auditable.
What GL Timing Difference means
A NetCash reconciliation closes against the GL balance as of the period end date. If transactions are posted to the GL after the period end (for example, a late journal entry or a correction), the current GL balance no longer matches the period-end snapshot. NetClose books the gap as a separate GL Timing Difference explained item so the recon nets to the period-end GL balance. A non-zero GL Timing Difference signals post-close GL activity worth reviewing - it does not necessarily indicate an error.
Auto-reconciliation condition
The NetClose recon is set to Auto-Reconciled when the item amounts (NetCash Bank/CC Reconciliations, plus FX Difference and GL Timing Difference if applicable) cover the full GL ending balance for the rule's account grouping. If any GL account in the grouping has no completed NetCash recon for the period, the item amount will not cover the full GL balance and the NetClose recon stays open. Complete the missing NetCash recons and re-run Auto-Reconcile.
Drift Detection
NetClose checks NetCash status on each auto-reconcile run, which happens when reconciliations are generated, or when reconciliations are submitted on the Auto Reconcile page. If a previously complete NetCash recon enters a non-complete status (for example, a reviewer sends it back for edits, or a late journal entry changes the balance), NetClose mirrors that status onto the NetClose recon so the recon owner sees the change.
| NetCash Status | Resulting NetClose Status |
|---|---|
| Balance Changed | Balance Changed |
| Submitted for Review | Submitted for Review |
| Sent Back for Edits | Sent Back for Edits |
| In Progress, Blocked, Not Started, or no recon found | Working On It |
When all NetCash recons return to Complete or Auto-Reconciled, the NetClose recon can auto-reconcile on the next run.
Limitations and Callouts
Consolidated subsidiaries are not supported
NetCash reconciles bank and credit card accounts only at the individual-subsidiary level. If a NetClose Reconciliation has a consolidated parent subsidiary, the auto-reconciliation process produces a notice in the Excel file explaining that consolidated groupings have no underlying NetCash recons and does not create items. Use individual-subsidiary reconciliations for bank and credit card accounts.
Non-primary accounting books are skipped
NetCash reconciles only on the primary accounting book. If a NetClose Reconciliation is generated for a secondary book in a multi-book setup, the auto-reconciliation process is skipped entirely, and no items are produced.
Period end date must match exactly
The NetCash Reconciliation Date must match the NetClose period end date exactly. Customers on custom fiscal calendars (such as 4-4-5) need to date their NetCash recons to the NetClose period end, not a calendar-month boundary. Mismatched dates cause the NetCash recon not to be picked up.
Troubleshooting
The NetCash Bank/Credit Card Reconciliations option is not visible in the Modules field.
Verify NetCash is installed in this NetSuite account. The option is shown only when the NetCash SuiteApp is detected.
The NetClose recon does not auto-reconcile after completing NetCash recons.
Open the Excel evidence file attached to the recon and check the Detail Page for accounts marked No Recon Found. These GL accounts in the rule's grouping do not have a completed NetCash recon for the period end date. Complete the missing recons and re-run Auto-Reconcile.
The NetClose recon status changed to Balance Changed, Submitted for Review, or Sent Back for Edits after NetCash work was completed.
A NetCash recon for one of the GL accounts is no longer in Complete or Auto-Reconciled status. A late journal entry may have shifted the balance, or a reviewer may have sent the NetCash recon back for edits. Open the relevant NetCash recon (use the deep link in the Excel Detail Page or the NetCash badge on the NetClose Reconciliation dialog), resolve the issue, and re-run Auto-Reconcile on the NetClose recon.
An FX Difference item appears but the account is not in a foreign currency.
The FX Difference item is created only when the bank or credit card account's currency differs from the subsidiary's functional currency. If you see one unexpectedly, check the subsidiary's currency and the GL account's currency on the underlying NetCash recon.
A GL Timing Difference item appears unexpectedly.
The GL Timing Difference item is created when transactions have been posted to the GL after the period end date, shifting the current GL balance away from the period-end balance NetCash reconciled. Check the GL account's activity for journal entries or other postings dated after the period end - these are often late corrections or top-side adjustments worth reviewing.
The NetCash deep-link badge does not appear on the NetClose Reconciliation dialog.
The badge appears only when the NetClose recon was generated from a rule with the NetCash Bank/Credit Card Reconciliations module enabled. If the badge is missing, the rule may not have this module configured. Update the rule and regenerate the recon.
Multiple bank or credit card accounts roll up to a single GL account but only one shows in the evidence file.
NetCash groups all bank and credit card accounts that share a single GL account into one reconciliation per period via the NetCash Bank Accounts multi-select field. The Excel evidence file's NetCash Bank Account(s) column lists every bank account included in that grouped reconciliation. If the column shows only one account where you expect multiple, verify the NetCash reconciliation includes all of them in the multi-select.
