Closing the month with a Stripe to NetSuite tie-out report

Stripe

Pull the in-transit balance as of the last second of the prior month from the Stripe balance report.

Use the period-end timestamp, not today. The in-transit balance changes throughout the day so taking it on the second of the month gives a different figure to the one the auditor will see. Always use the last second of the prior month and screenshot the figure for evidence.

Expected: The Stripe in-transit balance at period end is captured with a screenshot.

NetSuite

Pull the undeposited funds balance from the trial balance as of the same period-end timestamp.

Use the trial balance, not the bank reconciliation summary. The bank reconciliation summary excludes refunds in flight; the trial balance includes them. The period-end timestamp must match the Stripe figure exactly otherwise the variance will show every time.

Expected: NetSuite undeposited funds at period end is captured from the trial balance.

NetSuite

Enter both balances on the period close record's tie-out custom fields and let the variance formula auto-calculate.

The period close record carries three custom fields: Stripe In-Transit, NetSuite Undeposited Funds and Variance (formula: Stripe minus NetSuite). Positive variance means Stripe has more in flight than NetSuite recognises, which usually points to a payout posted but not yet matched. Negative variance means NetSuite has more in undeposited funds than Stripe in flight, which usually points to a refund missed in the daily reconciliation.

Expected: The period close record shows the variance figure with the sign indicating the likely cause.

NetSuite

If variance is above $5, pull the prior month's daily reconciliations and trace each payout to confirm there is no posting error.

$5 is the float threshold. Variance below $5 is FX rounding noise from non-USD payouts; variance above $5 is a real discrepancy and must be cleared before close. Trace from the most recent payout backwards because recent errors are easier to remember and unwind than older ones.

Expected: Either the variance clears below $5 after correction or the cause is fully diagnosed.

NetSuite

Pull the list of customers in Recognition Held and confirm each one's hold reason and held amount.

Each Recognition Held customer needs to appear in the close pack as a separate line so leadership can see the dunning impact on the period. Confirm the hold reason is `dunning` exactly so the close pack filter picks them up; any reason that does not match the filter falls into the unfiltered residual and gets queried at the next review.

Expected: All Recognition Held customers are listed with hold reason `dunning` and held amount.

NetSuite

Open the period close record memo template and compose the tie-out report covering the in-transit walk, the held customers and the variance resolution, then export to PDF.

Three sections in the memo: the in-transit walk (Stripe to NetSuite with the variance and the resolution), the held customers (named list with held amounts pulled from the Recognition Held saved search) and a one-line sign-off statement. Total length is half a page; longer reports get skim-read and the variance resolution becomes invisible. Use NetSuite's Print to PDF on the period close record so the export carries the close record header automatically.

Expected: A half-page tie-out report PDF is exported from NetSuite with the three required sections and the close record header.

NetSuite

Attach the PDF to the period close record and sign off the close.

The PDF must be attached to the period close record, not to a folder somewhere else. The auditor pulls the period close record at the quarterly review and expects the PDF in place. After attachment, click the Sign Off button which timestamps the close; do not sign off before attachment because the close cannot be edited after sign off and the missing PDF is then a control-issue write-up.

Expected: The PDF is attached to the period close record and the close is signed off with a timestamp.