Friday, June 14, 2019

Zero Paychecks are showing in Find Matching Transaction Page of the Online Banking Statement

When you import an online bank statement into your NetSuite account, most statement transactions match with transactions entered in NetSuite. The Online Banking Statement page displays a date or transaction number in the Matched Transactions column for matched transactions. Unmatched transactions display a link in the Type column of the page.

If you click the link to type of transaction that is unmatched, it opens Find Matching Transactions Window. This display unmatched transactions. If you are premier payroll user, you will see on the Find Match Column several paychecks with zero amounts.

This is due to payroll funding that happens whenever payroll is processed. When payroll is processed, NetSuite creates an automated journal entry to transfer the fund from payroll funding to special account called Payroll Float. Each paycheck created from the batch shows that money was pulled out from the payroll funding but if you view the GL Impact, it shows that money was taken out from Payroll Float Account. As a result multiple checks will show in Find Matching Transaction Page when performing Online Banking Statement.

Note : Calculate Payroll Funding is currently not working and track through Defect : 170498
List > Accounting > Accounts > Payroll Funding Account shows multiple transactions instead of single transaction when Calculate Funding is checked.



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