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Introduction

Reconciliation is the process of comparing documented transactions with actual settlement results. Automated Reconciliation for SuitePayments is a SuiteApp Bundle that takes advantage of the comprehensive, web-based reporting system available from MerchantE (ME). Using NetSuite SuiteCloud technology, the bundle makes calls to the MerchantE reporting API to bring back settlement and deposit details for transactions and updates the associated records in NetSuite.

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• Activate credit card payments for MerchantE for SuitePayments. For more information, see MerchantE SuitePayments in NetSuite.

• Request your MerchantE credentials for NetSuite Reconciliation. These will be necessary to allow NetSuite to access your merchant account and deposit records from the MerchantE Reporting Portal.

• Confirm that each of your credit card Payment Methods is set to Group with Undeposited Funds. To check this setting, follow these steps:

  • Navigate: Setup → Accounting → Accounting Lists

  • Select Edit for each credit card brand.

  • On the Account subtab, check the box for Group with Undeposited Funds.

Installation of the Automated Reconciliation Bundle

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Navigate: Customization → SuiteBundler → Search & Install Bundles

1. In the SuiteBundler section of the Customization tab, select Search and Install Bundles.

2. In the Search & Install Bundles screen, search for MerchantE.

3. Select MerchantE Reconciliation of Payments and click Install.

   

Set Up the Batch Report Configuration

1. In NetSuite, search for MerchantE Recon. Select MerchantE Recon Batch Reporting Config.

2. Click New MerchantE Recon Batch Reporting Config.

3. Enter the following information:

   1. Name - Enter a name for the configuration.

   2. Start Date - Select a date when the reconciliation should start.

   3. End Date - Select the date when the Batch Report should end.

   4. Merchant Account Reporting User Name - Enter the username used to access the Business Portal

   5. Merchant Account Reporting Password - Enter the password for the Business Portal.

   6. MerchantE Merchant ID - Enter your MerchantE Merchant ID.

   7. Email Notification To - Select the user that will receive the reconciliation report results.

4. Click Save.

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Navigate:  Transactions → Bank → Make Deposits

1. In the Bank section of the Transactions tab, select Make Deposits. The Deposit screen appears.

2. In the Deposits tab, click Customize. The Customize Sublist screen appears.

3. The following fields are available in the Additional Columns tab. Fields marked with an asterisk are optional.

   1. MerchantE: Deposit Anticipated*

   2. MerchantE: Deposit Date

   3. MerchantE: Deposit Reference

   4. MerchantE: Settled Amount

   5. MerchantE: Settlement Batch

   6. MerchantE: Settlement Date*

   7. MerchantE: Settlement Discrepancy

4. Navigate to the Additional Filters tab. Enable the MerchantE: Settlement Batch filter.

5. Click Save.

Using the Reconciliation Button

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Navigate: Transactions → Bank → Make Deposits

1. In the Bank section of the Transactions tab, select Make Deposits. The Deposit screen appears.

2. Enter the Credit Card Batch number you need to reconcile.

3. Mark all/check the boxes for the transactions that need reconciliation. The Amount will be automatically updated with the selected transactions.

   

4. If your Amount is not the same as the amount your bank has reported, view the MerchantE: Settlement Discrepancy column.

   1. If discrepancies are found by the bundle:

      1. View the transaction by clicking the Date.

      2. Determine the reason and make corrections to the sales records accordingly.

      3. Confirm that adjustments resolve disparity between Amount and bank deposit amount.

   2. If no discrepancies are found by the bundle:

      1. Type MerchantE Unrecognized Credit Card Transactions into the search bar.

      2. Look for any sales records missing from NetSuite for the batch.

      3. Create new sales records as appropriate. This scenario could occur if you accept payments outside of NetSuite, such as a website, that may have been included in the batch.

      4. Confirm that the totals match when you adjust for the unrecognized transactions.

5. Click Save to update Sales Order forms and Reports.

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