A user needs to unreconcile transactions that have already been cleared in the past month using the Reconcile Account Statement Feature. By default, NetSuite does not allow modifications to past reconciliations that have been saved.
To unreconcile transactions that were reconciled using the Reconcile Account Statement Feature, follow these steps:
- Access the Account:
- Navigate to Lists > Accounting > Accounts.
- Open the relevant account by clicking Edit.
- Modify Account Preferences:
- Set the USE CONFIRM TRANSACTION MATCHES AND RECONCILE ACCOUNT STATEMENT PAGES to False.
- Click Save.
- Initiate Bank Reconciliation:
- Navigate to Transactions > Bank > Reconcile Bank Statement.
- Select the account in the Account dropdown field.
- Enter the correct Statement Date.
- Uncheck Past Transactions:
- On each tab, uncheck the transactions that were previously cleared.
- Click Save.
Result: The transactions will be unreconciled from the reconciliation period they were initially included in.
Note: Unreconciling transactions on the Reconcile Bank Statement page that were initially matched in the Match Bank Data page will automatically unmatch those transactions. This means that both the bank statement transaction and the NetSuite transaction will be available for matching again in the Match Bank Data page.
Continuing with Reconcile Account Statement Feature: To continue using the Reconcile Account Statement Feature for future reconciliations, follow these steps:
- Re-enable Preferences:
- Go back to the account record of the bank and enable the preference USE CONFIRM TRANSACTION MATCHES AND RECONCILE ACCOUNT STATEMENT PAGES again.
- Click Save.
- Confirm Transaction Matches:
- Navigate to Transactions > Bank > Reconcile Account Statement > Click Confirm Transaction Matches.
- In the NetSuite Transactions Section, the transactions that were unreconciled will show up in the list of NetSuite Transactions awaiting reconciliation.
By following these steps, users can successfully unreconcile transactions and ensure accurate reconciliation processes in NetSuite.
These steps allow for effective management of reconciled transactions, ensuring that any errors in previous reconciliations can be corrected and future reconciliations can be carried out smoothly.