Key Takeaways
- NetSuite no longer uses the Reconcile Bank Statement page as its main bank reconciliation screen. Bank reconciliation is the monthly check that your books match your bank statement, and that work used to happen on the Reconcile Bank Statement page. However, since early 2021, it has moved to two newer pages: The Match Bank Data and Reconcile Account Statement pages. The old page still opens, but Oracle, which owns NetSuite, no longer fixes or updates it (as of October 2026).
- What This Means for Your NetSuite Bank Reconciliation: If your team still reconciles on the old Reconcile Bank Statement page, your month closes as usual, but the risks build. Your written close procedures may still be training staff on an unsupported screen. Matching stays manual, so a gap between your books and your bank can go unnoticed for months.
- How to Move to NetSuite’s New Reconciliation Pages: Moving to the new pages is mostly a change in how your team works. The move usually starts with confirming your last reconciliation is accurate and picking a month-end cutoff. From there, your team switches each bank account to the new pages. Next comes connecting bank feeds, NetSuite’s automatic daily import of your bank transactions. The last step is updating your written close procedures. If reconciliations are months behind, catching those up first keeps old errors out of the new process.
“Does it matter that NetSuite no longer updates the bank reconciliation page our company still uses?” Our Fusion CPA team hears this often from NetSuite clients when we take over an account mid-year. The short answer is yes, even though the cost rarely shows up in the first month.
Previously, NetSuite handled bank reconciliation on one screen, the Reconcile Bank Statement page. Now that work happens on two newer pages. The Match Bank Data page pairs each bank transaction with the matching entry in your books. On the Reconcile Account Statement page, you then close out the statement.
What Does NetSuite’s Deprecation Warning Actually Mean?
Companies that set up NetSuite before 2021 often still reconcile on the original Reconcile Bank Statement page. When your team opens that page, a warning at the top says the feature is deprecated. The term means that the vendor still lets you use the feature but no longer maintains it. In practice, the warning tells you two things.
First, the page still works: you can open it, tick off transactions, and save a reconciliation. Second, Oracle no longer fixes problems on that page or builds anything new for it. Matching rules, automatic clearing, and newer error handling all go to the redesigned pages instead.
Because NetSuite hasn’t removed the old page, many companies keep using it. That can put you at risk in two ways. One risk is extra staff hours each month. The old page has no automatic matching, so someone on your team ticks off every transaction by hand.
The other risk is errors you don’t find until months after they happen. Changes to past reconciliations often don’t stand out on the old page. This means that a gap between your books and your bank can grow before anyone sees it. The warning itself is also easy to ignore. It has been on the page for years, so long-time staff often stop noticing it, and the month still closes.
Inconsistent records have a ripple effect on month-end close, profitability and tax filing. If you’re concerned of inaccuracies, contact our team to enquire about an Accounting Clean Up.
What Breaks If You Keep Using the Old Reconciliation Page?
You put yourself at risk of the following four problems that tend to surface if you continue using NetSuite’s older reconciliation page without professional checks and balances in place.
Your Close Procedures Teach an Unsupported Process
We’ve reviewed close documents at several companies where the reconciliation steps linked straight to the deprecated page. As a result, new hires learned an unsupported process. When those teams later turned over, the incoming staff knew only the current NetSuite pages and couldn’t follow the steps. A standard operating procedure (SOP) built on the old page only works while the people who wrote it stay.
Bank Activity Stays Manual
On the old page, someone usually keys in or imports bank activity, then ticks off each transaction by hand. With bank feeds and matching rules, NetSuite clears most lines on its own. Your team reviews only the ones it couldn’t match.
For example, say your main operating account posts 600 transactions a month. At about a minute each, ticking them off by hand can take up to 10 hours. If matching rules clear 90% automatically, your team reviews 60 exceptions, which could take closer to an hour. These figures are illustrative. Still, they show why the time saved grows with volume, since manual review adds work for every transaction.
Gaps Between Your Books and the Bank Show Up Later
On the old page, a reconciliation can look finished while the cash balance in your books moves away from the bank balance. One reason is that NetSuite lets users edit or delete transactions in periods already reconciled. Oracle warns that editing a saved reconciliation can leave later ones out of balance. Without automatic matching, that change can go unnoticed until someone traces it back by hand.
In one account we examined, book cash matched the bank to within a few hundred dollars early in the year. A few months later, the staff running the process had left and the reconciliation had stopped. By then, the gap was many times larger. The old page didn’t cause the turnover. However, without regular bank matching, nothing showed the gap in the first month.
Oracle Support Sends You to the New Pages
If something breaks on the old page, Oracle support usually tells you to switch to the newer reconciliation pages. So the fix you’ll eventually need is the same switch you may have been putting off.
Need help with other NetSuite functionality? Get answers to your most common NetSuite questions using our NetSuite FAQ video guide.
Legacy Reconciliation vs. Bank Feeds at a Glance
| Legacy Reconcile Bank Statement page | Bank feeds + redesigned reconciliation pages | |
|---|---|---|
| Oracle support | None (deprecated as of 2021.1) | Supported and still being developed |
| Statement activity | Manual entry or file import | Automatic daily import from your bank |
| Transaction matching | By hand | Rules-based matching; your team reviews exceptions |
| How fast gaps show up | Often months later | Sooner, because unmatched items stay visible |
| Training new staff | Harder; doesn’t match current Oracle documentation | Standard; matches Oracle documentation |
You can use NetSuite’s newer reconciliation pages without bank feeds. Since early 2021, your team can mark transactions as cleared without importing anything from the bank. However, most of the time savings come from using the new pages together with bank feeds.
How Do You Move to Bank Feeds Without Losing Your Reconciliation History?
Switching to the new pages doesn’t delete your past reconciliations. They stay in NetSuite. The order of the steps matters, because it protects the balance you start with on the new pages. Our CPAs usually work through four steps.
1. Confirm the Last Reconciliation Is Accurate
The first step is checking that your most recent reconciliation still matches the bank statement. NetSuite lets users edit or delete transactions in months already reconciled. As a result, a month can look finished when it isn’t. If the starting balance is wrong, that error carries into the new process.
2. Choose a Cutoff Date
Next, your team picks the date the switch takes effect, usually the last day of a month. Months up to that date stay closed on the old page. After it, reconciliation happens on the new pages. To switch a bank account, you tick a box on its record called “Use Match Bank Data and Reconcile Account Statement Pages.”
You may have a statement you started reconciling on the old page and saved to finish later. If so, NetSuite moves its cleared transactions to the new page when you save the switch.
3. Connect Bank Feeds and Set Up Matching Rules
Connecting NetSuite to your bank accounts lets NetSuite bring in your bank transactions automatically each day. Bank connections sometimes break when a bank changes how customers log in. For that reason, someone usually confirms the feed ran each day during the first month.
Matching rules tell NetSuite how to pair bank transactions with entries in your books. They usually need adjusting in the first month, and each rule you add means fewer transactions to match by hand.
4. Update Your Written Close Procedures
The switch is finished when your written close procedures in NetSuite describe the new process and name the person responsible for it. A working bank feed alone doesn’t finish the job. This step matters most if your old SOP linked to the deprecated page, because new staff follow whatever the document says.
If your reconciliations are months behind, catch-up work usually comes before any of these steps. Switching on top of a backlog causes two problems. Old errors carry into the new process, and nobody can tell which problems started before the switch and which started after. That’s why an accounting cleanup usually comes first.
Can My Team Handle the Move to NetSuite’s New Reconciliation Pages?
Your in-house accounting team could make the move. This usually works when your reconciliations are up to date and the people who ran your monthly close last year are still on staff. In that case, the switch mostly means following Oracle’s instructions for switching each bank account to the new pages.
Not every company has current books and the same staff in place, though. In two situations, outside help usually makes sense. The first is when your reconciliations are months behind or the people who knew your process have left. Someone then has to catch up and check past months before the switch. The second is when your company runs several subsidiaries inside one NetSuite account, each with a high volume of transactions. Each subsidiary’s bank accounts then usually need their own cutoff and matching rules.
How Fusion CPA’s Certified-NetSuite CPA Team Can Help
If your reconciliations are behind or your team has turned over, our CPAs at Fusion can handle the switch for you. The same applies if you run several subsidiaries in one NetSuite account. We run the catch-up and the move to bank feeds as one project. That way, your new process starts from a balance we’ve checked against the bank.
The work covers confirming your last accurate reconciliation, setting the cutoff, connecting feeds, and building matching rules. It ends with a rewritten close SOP that names the person responsible. Afterward the reconciliation project, our outsourced controller team can take over your monthly close with our ongoing controller services or hand the updated process back to your staff.
Fusion CPA provides tax preparation and planning, NetSuite accounting services, outsourced bookkeeping, and controller services for businesses in 40+ states. We have offices in Atlanta, GA; Tampa, FL; San Juan, PR; and Park City, UT. Schedule a Discovery Call to plan your switch, or email info@fusiontaxes.com.
Sources and References
- Oracle NetSuite Help Center, Bank Account Reconciliation and Reporting (support status as of 2021.1)
- Oracle NetSuite Help Center, Editing Accounts to Use the Match Bank Data and Reconcile Account Statement Pages
- Oracle NetSuite Help Center, Deleting a Reconciliation (warning on editing saved reconciliations)
- Oracle NetSuite Help Center, Troubleshooting Reconciliation Issues
Reviewed By Susan Borkowski, CPA, Director of Controller Services at Fusion CPA.
About the Author
Trevor McCandless, CPA, MTax, is the founder and CEO of Fusion CPA, which he started in Atlanta in 2011. His work centers on tax strategy for business owners and high-achieving individuals and families. This article was reviewed by Steven Sumners, CPA, MAcc, Senior Tax and Accounting Manager at Fusion CPA.
