Accounts Receivable (NetSuite)

the cash application product automates reconciliation by matching open invoice data from netsuite against new deposits found in the daily previous day reporting (pdr) bank import accessed via the receivables tab in the {{productname}} , this solution helps streamline your accounts receivable workflow use this guide to explore the available features and learn how to manage your invoices effectively overview the cash application presents deposits and their suggested matches for review and approval in the deposits section of receivables to assist with your review, the system assigns a confidence level to each suggestion, helping you decide whether to accept the auto match or intervene matches can be approved as is, edited to adjust amounts, or removed entirely if the deposit needs to be excluded deposits without suggested matches can be manually matched to open invoices or excluded from the list upon approval of a match, the corresponding customer payment is posted to the erp and applied to the associated invoices this process triggers the necessary accounting entries and marks the invoices as paid within the erp system the solution supports flexible matching scenarios, including one to one, one to many, and many to one invoice matching it also accommodates complex use cases such as foreign exchange variances, bank fees levied by the sending financial institution, and short pays resulting from early payment discount terms for complete transparency, all cash application activity is recorded events such as new deposit matching, manual or automatic rematching, approvals, exclusions, payment posting, and errors are viewable in both the history tab and the dedicated action log for each deposit matching invoices with receivables once your company has been onboarded to the receivables feature, you'll be able to access your open deposits and auto matched invoices from the receivables tab follow the steps below to view your deposit list and begin matching invoices go to deposits navigate to {{productname}} > receivables > deposits open deposits list open deposits have been auto matched against open invoices and are awaiting review and approval each deposit card shows the deposit details on the left and the matched invoice details on the right the portion of the deposit amount auto matched to open invoice amounts is indicated by a bar open deposits have been auto matched against open invoices and are awaiting review each deposit card displays the deposit details on the left and the matched invoice details on the right a visual bar indicates the portion of the deposit amount that has been auto matched the amount match is the portion of the deposit matched to open invoices the difference is the outstanding deposit amount that has not yet been matched use the pagination controls at the bottom to navigate across pages in the list filter deposit list toggle the filters drawer by clicking show filters or hide filters you can filter the list by bank account , deposit amount , customer , and deposit date to remove an individual filter, click the minus ( ) sign next to it to remove all active filters, click reset view deposit details click on a deposit card to view its full details on the left is the deposit details section, where you will see the amount deposited, settlement date , sender , description/memo , bank account , and bank reference the right side shows the invoices to match this displays matched invoices along with the auto match confidence level (very low to very high), due date , invoice amount , amount due , discount taken , and amount matched relevant discount terms from the erp are displayed for each invoice you can manually edit the discount taken (between 0 and the amount due) and the amount matched (between 0 and the deposit amount) for the invoice edit matches and filter open invoices matched invoices can be removed by hovering over an invoice and clicking the minus ( ) sign to the right of the invoice clicking clear matches will remove all matched invoices at once invoices can be matched manually by clicking add invoices while adding invoices, filters can be applied for customer , invoice # , due date , and amount range deposit action log to view the history of actions, click action log from the deposit details view the log displays all events associated with the deposit, including auto matches, approvals, exclusions, errors, re matches, and erp payment posting it also identifies who performed the action (e g , the system or a specific user's email address) approve or exclude deposit if matched invoices are fully matched against the deposit amount, the deposit can be approved by clicking the approve match button the match request will then be submitted to netsuite to post the customer payment and apply it to the matched invoices if the invoice is fully paid, it will be marked as paid in ful l in netsuite the deposit will be moved to the completed tab after being actioned if there are no invoices matched against the deposit, clicking exclude deposit will remove the deposit from the list and move it to the completed tab no actions will be taken in netsuite deposits history click the history tab to reveal all deposit and matching actions done by the system and any users with access to the cash application events can be filtered by action date , user , and action type