NetClose - Reconciliation Reports

Overview

NetClose offers various reports designed to provide accurate data and clear insights into your reconciliations.

To access these reports, go to NetClose > Reports > All Reports. Then, filter by the Reconciliation module. A description of each report can be found on this page.

The Reconciliation Audit Report

The purpose of the Reconciliation Audit Report is to provide a detailed record of all reconciliations for a given period. It includes a record of account balances and activity, as well as when the reconciliation was due, when it was started, and when it was approved/completed. It also shows the assignee and reviewer and any notes left by the reviewer. 

To open this report, navigate to NetClose > Reports > Reconciliation Audit Report or select it from the All Reports page. In the top left corner of the report page, you can select the accounting period you want to view. Once an accounting period is selected, all reconciliations for that period will show.

To see additional fields not displayed by default, select Edit this Search to bring in additional fields to the search results.

The Reconciliation Audit Detail Report

The Reconciliation Audit Detail Report provides a more granular look into your reconciliations. It displays the reconciliation items including amounts, types, and any notes for the selected period.

To see additional fields not displayed by default, select Edit this Search to bring in additional fields in to the search results.

The Reconciliation Consolidated Report

The Reconciliation Consolidated Report presents reconciliation balances and items for a selected period in a single, expandable view, grouped by account group. In OneWorld accounts, it can roll balances from multiple subsidiaries up to one consolidated subsidiary using NetSuite's consolidated exchange rates, making it useful for reviewing reconciliations across an entire subsidiary hierarchy at once.

To open this report, navigate to NetClose > Reports > Reconciliation Consolidated Report or select it from the All Reports page.

Use the filter panel on the right side of the report to control what is shown:

  • Period - the accounting period to report on. 
  • Account Group - limits the report to reconciliations under one or more account groups. Leave unset to include all account groups.
  • Subsidiary - limits the report to reconciliations for one or more subsidiaries. 
  • Consolidated To - the subsidiary to consolidate balances to. When set, all amounts are converted from each reconciliation's subsidiary to the selected subsidiary's currency using NetSuite consolidated exchange rates for the period.
  • Accounting Book - limits the report to one or more accounting books. Available when multi-book accounting is enabled.

The report is organized as an expandable hierarchy: account group, then any child account groups, then each reconciliation, then its reconciliation items. Use the Expand All and Collapse All buttons to control the level of detail.  The report displays the following columns:

  • Name - the account group, reconciliation, or reconciliation item.
  • Balances - the GL beginning and ending balances as well as debit and credit activity for the period.
  • Explained - the explained balance via reconciliation items.
  • Unexplained - the unexplained balance (the ending balance not yet supported by reconciliation items).
  • Type and Note - the type and note recorded on a reconciliation item.
  • Link - opens supporting documentation or the related transaction for a reconciliation item.

Account group rows show subtotals summed from the reconciliations beneath them. Click the name of any account group, reconciliation, or reconciliation item to open that record in NetSuite in a new tab.

Use the Download button to export the report to Excel, or the Refresh button to re-run it with the current filters.


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