Overview
Blue Onion has implemented an automated solution for handling split settlements, like Shop Cash, in NetSuite deposit pushes. This guide explains how the system manages transactions where a single payment is split across multiple settlement periods, ensuring accurate reconciliation while minimizing manual intervention.
Benefits
Eliminates manual reconciliation for split settlements
Prevents duplicate transaction posting errors when pushing deposits
Maintains accurate audit trail
Reduces processing time and errors
Automatically balances across multiple settlement periods
Key Concepts
Split Settlement: When a single payment transaction settles across multiple payout periods and reconciles to one GL payment record
Clearing Account: A temporary account used to balance split settlements until all parts are processed
Setup Requirements
1. Configure Split Settlement Clearing Account
Navigate to: General Ledger > Configuration > Chart of Accounts > System Generated tab. You'll need to map an account for "Split Settlement Payments." This account serves as a clearing account for split settlements that reconcile to a single GL payment transaction.
2. Account Mapping Recommendations
Use an "Undeposited Funds" type account
Ensure the account is configured for both debits and credits
Consider using a dedicated clearing account for better tracking
How It Works
First Payout Processing
When you push the first payout that includes part of a split settlement, the system automatically includes:
The GL transaction that reconciles to the full value of the many payments
A manual adjustment is automatically created to:
Reduce the payout value by the amount settling in future payouts
Post to the Split Settlement clearing account
Include a clear memo referencing the original order
Example:
A GL payment of 61.94 is included in the first payout automatically
A variance of ($0.64) is shown, along with the amount accounted for by Split Settlement Adjustments
An auto-generated manual adjustment of ($0.64) is included and mapped to the account selected for split settlement clearing
Subsequent Payout Processing
For later payouts containing the remaining settlement portions:
The system creates a reversing adjustment that:
Adds back the previously reduced amount
Posts to the same clearing account
References the same order number
Example:
No GL payment record will be include, due to it being included in the initial payout
A variance of $0.64 is shown, along with the amount accounted for by Split Settlement Adjustments
An auto-generated manual adjustment of $0.64 is included and mapped to the account selected for split settlement clearing
As shown below, there may often be more than one adjustment included in a payout
Best Practices
Regularly review the Split Settlement clearing account
Use the provided memo fields for transaction tracking