Match Bank Data
Match bank data is the process of reconciling financial transactions recorded in an organization's accounting records with the corresponding transactions reported by the bank or financial institution.
What is Match Bank Data?
Match bank data is the process of reconciling financial transactions recorded in an organization's accounting records with the corresponding transactions reported by the bank or financial institution. This reconciliation process aims to ensure that the transactions recorded in the organization's books accurately reflect those recorded by the bank, thereby verifying the accuracy and completeness of the financial records.
Within NetSuite, match bank data can be managed by a native SuiteApp like ZoneReconcile, which allows NetSuite users to simply upload bank statements or set up a bank feed to automatically create and match everything from bills and credits to prepayments, direct debits, and expense claims.
