Bank Account Reconciliations in Business Central

November 8, 2021
|In Business, ERP, ERP & Microsoft Dynamics, Dynamics 365, Business Central, Accounting
|By Bond Consulting Services

One of our experts at Bond Consulting Services has been working on resolving bank transactions in Business Central. The process described is helpful for accounting professionals or anyone managing transactions to fulfill their daily tasks. To reconcile bank transactions in Business Central follow these steps:

  • Select the bank account that you want to reconcile, and on the General FastTab, enter the following fields:
    • Statement Date you are reconciling
    • Statement No.
    • Statement Balance from the bank
  • Select Process > Select “Suggest Lines” to populate the bank reconciliation with all posted bank transactions.
  • Under Record type to process, select the posting date filter, so the system only pulls transactions for the given period. Click “Ok” to pull the transactions.

  • The system will pull the transactions and add them to the corresponding sections. At this point, the Bank Statement Lines now displays the bank statement lines that are applied with the open bank ledger entries that are displayed in the Bank Accounts Ledger Entries window.

  • To remove entries that do not appear in the bank statement, on the “Bank Statement Lines” side, click Select More > Delete Line. Business Central will automatically remove the application on the Bank Account Ledger Entries window and the non-reconciled transactions can be used on the next period or reconciliation.
  • To add the bank related transaction that are not in the system, manually add the line in the Bank Statement Lines window and populate the Transaction Date, Description, Amount fields. Then select Process > Transfer to General Journal.

  • This transaction can be posted in the General Journals window. When posted, Business Central will create a bank account ledger entry that will be included in the bank reconciliation window.
  • Once the reconciliation difference is zero, you can post the reconciliation under Posting > Post.

Once posted, you can reference posted reconciliations within the bank account card under Navigate > Bank Acc. > Posted Reconciliations.

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