Glossary
What is settlement reconciliation?
Settlement reconciliation is the process of proving that each marketplace remittance statement and payout deposit matches the underlying orders, refunds, fees, reserves, and adjustments in NetSuite. It is not the statement itself. It is not the bank transfer event; it is the governed matching workflow that explains variances before finance posts the close.
The definition
Settlement reconciliation explained
For multi-channel brands, every marketplace and processor pays on its own schedule, nets its own fees, and reports activity in its own format. Settlement reconciliation is the process finance uses after the marketplace remittance document arrives and the payout event hits the bank: prove what was sold, refunded, charged, reserved, and actually deposited.
Done by hand, the process consumes the finance team's week and still leaves unexplained variances. Done as a governed workflow, each payout is matched to the underlying NetSuite transactions, fees and timing differences are isolated, and exceptions route to a human for approval before anything posts. The result is a close that survives an audit instead of one that needs explaining.
Where this shows up at Altura
FAQ
Frequently asked question
See also
Related terms
Related terms that come up in the same workflows.
01
Net deposit
A net deposit is the single amount a marketplace or processor actually transfers to the bank after netting its fees, refunds, reserves, and adjustments against gross sales. Because it summarizes many transactions into one number, the net deposit is an input to reconciliation, not proof that the underlying activity has been matched or explained.
Read the definition02
Marketplace remittance
A marketplace remittance is the statement or document a marketplace provides for a settlement period, showing gross activity, fees, refunds, reserves, adjustments, and the net amount owed to the seller. It is evidence for reconciliation, not the reconciliation process itself and not necessarily the same as the bank deposit timing.
Read the definition03
Month-end close automation
Month-end close automation converts the manual, repetitive parts of closing the books (reconciliations, evidence gathering, report rebuilds, exception reviews) into a governed, repeatable workflow in NetSuite. The goal is a close that ties out without needing explanation, with human sign-off retained where judgment and risk matter.
Read the definition04
Exception handling
Exception handling is the governed path an automated workflow follows when something does not fit the rules: a payout that will not match, a stuck order, an integration error. Instead of failing silently or forcing a person to hunt, the exception is classified, routed to the right owner with context, and resolved with human approval where it matters.
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