BANK ACCOUNT RECONCILIATION

Bank Reconciliation:

Microsoft Dynamics 365 Business Central has the option to do a bank reconciliation without using the built-in Bank Feed. The system will create bank statement lines entries based on the entries that have been posted in your bank ledger.

Microsoft Dynamics 365 Business Central offers automatic methods to reconcile your bank statement; such as importing a file with your bank statement information.

Linking a bank account to your Business Central account:

Link a bank account to Business Central Search bank accounts. Click button link Online Bank Account in Bank Statement service category.

When you click number of bank will saw like below image.

Once complete, you can return to the bank account card and select “Automatic Bank Statement Import Setup” – this will allow you to set the frequency of information imported into Dynamics 365 Business Central.

How to Bank account reconciliation?

To reconcile bank accounts without simultaneously applying payments, use the global search for Bank Account Reconciliation.

Next, click New and select the bank account to reconcile.  Now, enter the statement ending date and ending balance.

The left side, bank statement lines, will display the amounts from your bank statement and  the right side, bank account ledger entries, will display the amounts posted in Dynamics 365 Business Central.

To populate the bank statement lines, they can be imported by going to Bank-Import Bank Statement.

Click on Process > Suggest Lines to have the system create the Bank Statement Lines based on the posted entries.

Enter the date range you are reconciling and mark to include checks. The Exclude reversed entries can be marked if you want to avoid any entries that were voided from being added for reconciling.

The system will then automatically create the entries and mark them as reconciled (bold in green). From here you can delete the entries in the bank statement lines section if the record is not reconciled.

Making Adjustments:

To understand Making Adjustment, in bank account statement there is one more line about $50 so will enter a new line on the bank statement lines section for the $50 fee and then click Process, then Transfer to General Journal.

Select the general journal and batch to use and click OK.  Next, select the GL account to post the fee to.

After Post General Journal, return to bank account reconciliation and choose Matching, Match Automatically (leave transaction date tolerance blank).

It now matched the bank fee that we just entered.

To print and complete this reconciliation, I go to Actions, Post and Print.  Here is the bank account statement report Dynamics 365 Business Central will generate.

This report provides the correct statement ending balance, along with the transactions that have been reconciled and outstanding.

To review this statement in the future, go to bank account and click button Statements in bank account sections.

Click the link to the Bank Account No. for that line and you can see all the details.