Skip to main content

Match Bank Data

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.

Related terms

Bank Reconciliation
Bank reconciliation is the process of comparing the balance on a company's bank statement with the balance in its own accounting records (usually in a general ledger) to ensure that they match.
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.