Interest accrued from a bank is an increase to the cash balance. The Reconcile Bank Statement page in Oracle NetSuite provides a streamlined method for recording transactions that appear on the bank statement but are not yet in the general ledger. The "New Deposits" subtab is specifically designed for this purpose, allowing a user to directly create a deposit transaction for items like interest earned. This action simultaneously records the income and adds the transaction to the reconciliation, making it the simplest and most integrated method.

A. Post a Journal Entry: While a journal entry can record interest income, it requires navigating away from the reconciliation page, creating a separate transaction, and then returning to match it, making it less simple.

B. Use the New Charges subtab: This subtab is used to record bank fees, service charges, or other debits that decrease the bank balance, which is the opposite of receiving interest.

D. Post a Write Check transaction: A Write Check transaction is used to record payments made from the bank account, which decreases the bank balance.

1. Oracle NetSuite Help Center. (2023). Reconciling Bank and Credit Card Accounts. SuiteAnswers

ID: 9391. In the section "Entering Deposits and Charges During Reconciliation

" the documentation states: "On the New Deposits subtab

you can enter deposits

such as interest earned

that are on your bank statement but have not yet been entered in NetSuite." This confirms the use of the New Deposits subtab for interest.

2. Oracle NetSuite Help Center. (2023). Bank Data Matching and Reconciliation. SuiteAnswers

ID: 72979. This document details the reconciliation workflow and describes the functionality for adding new transactions directly from the reconciliation pages. It specifies that new deposits (credits on the bank statement) are entered via the Deposits subtab to create the corresponding GL entry.