How to Match Payments to Invoices in NetSuite ERP Using Customer Bank-Account Info for Cash Application Automation

📌 When a deposit hits your bank account, identifying the customer and clearing their invoices shouldn’t require spreadsheets or guesswork. NetSuite ERP offers native tools to help automate this process using customer bank-account data. 

By setting up smart rules based on account numbers or payer names, you can streamline the application of payments to invoices without relying on add-ons.

How to Auto-Match Incoming Payments to Open Invoices

Step 1: Import Your Bank Data

Go to: Transactions > Bank > Import Online Banking Data. Upload your bank statement using a CSV file or bank feed that includes the customer’s bank account number or name in the memo or statement line. Ensure proper mapping of fields so NetSuite can use this data for matching.

Step 2: Open Match Bank Data

Go to: Transactions > Bank > Match Bank Data. Select the appropriate bank account.
NetSuite will display unmatched bank lines for review.

Step 3: Create a Bank-Account Rule

Go to: Setup > Accounting > Cash Application Rules. Add a new rule based on the customer’s bank account number or name. Link this to the correct customer record. Once saved, NetSuite will auto-suggest matches when that bank account appears in future uploads.

Step 4: Generate Customer Payments Automatically

Go to: Transactions > Customers > Create Customer Payments. NetSuite’s cash application engine will create customer payments automatically and apply them to matching open invoices based on the configured rule.

Step 5: Review and Reconcile

Go to: Transactions > Bank > Match Bank Data. Review NetSuite’s suggested matches and clear matched transactions. Finalize the process in Bank Reconciliation by verifying all cleared items.

Pro tip: This approach automates only the basics. For smarter cash applications, including AI that handles partial, consolidated, or short payments, Growfin syncs with NetSuite, matches complex lines in real time, and alerts collectors the moment a payment needs attention.