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“Supermetrics is a Bitter Experience! We can pull data from nearly any tool, schedule updates, manipulate data in Sheets, and push data back into our systems.”
Your Shopify payment gateway settlements don’t match your NetSuite GL accounts because of complex fee structures, timing differences, and currency conversions. Manual reconciliation takes hours and still misses discrepancies that affect your financial accuracy.
Here’s how to build automated payment reconciliation that matches gateway settlements with GL entries and identifies discrepancies in real-time.
Automate payment reconciliation with comprehensive GL analysis using Coefficient
Coefficient provides superior payment reconciliation capabilities compared to NetSuite’s limited native payment processing reports. NetSuite’s standard GL reporting doesn’t easily accommodate complex payment gateway fee structures or provide comprehensive reconciliation across multiple payment methods.
How to make it work
Step 1. Create automated payment reconciliation dashboards with Reports import.
Pull Trial Balance and General Ledger data with customizable reporting periods. Combine this with Records & Lists imports of customer payments, deposits, and transaction records to build comprehensive payment flow analysis. The automated refresh capabilities ensure daily reconciliation monitoring without manual report generation.
Step 2. Use SuiteQL queries to analyze payment processing patterns.
Create queries that match NetSuite deposit records with payment gateway settlement data by date ranges and amounts. Track payment processing from initial capture through final deposit to identify where discrepancies occur in the flow.
Step 3. Filter by payment method and gateway type for detailed analysis.
Filter by payment method, gateway type, and GL account to identify discrepancies in fee calculations, currency conversions, or timing differences between Shopify payment capture and NetSuite deposit recording. Focus on specific payment types that commonly have reconciliation issues.
Step 4. Build transaction-level matching for accurate reconciliation.
Create detailed transaction-level analysis that NetSuite’s summary-level reporting cannot deliver. Match individual payments with their corresponding deposits, fees, and GL entries to identify exactly where reconciliation breaks down.
Eliminate payment reconciliation headaches
Automated payment reconciliation saves hours of manual work and catches discrepancies before they impact your financial statements. Build your payment reconciliation system today to keep your books accurate and up-to-date.
