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How to: Reconcile Bank Accounts Separately

  • Article

To reconcile bank accounts in Dynamics NAV with statements received from the bank, you must fill in the lines in the Bank Acc. Reconciliation window.

Note

You can also reconcile bank accounts in the Payment Reconciliation Journal window. Any open bank account ledger entries related to the applied customer or vendor ledger entries will be closed when you choose the Post Payments and Reconcile Bank Account action. This means that the bank account is automatically reconciled for payments that you post with the journal. For more information, see How to: Reconcile Payments Using Automatic Application.

To enable import of bank statements as bank feeds, you must first set up and enable the bank data conversion service. For more information, see How to: Set Up the Bank Data Conversion Service.

The lines in the Bank Acc. Reconciliation window are divided into two panes. The Bank Statement Lines pane shows either imported bank transactions or ledger entries with outstanding payments. The Bank Account Ledger Entries pane shows the ledger entries in the bank account.

The activity of finding and applying entries to be reconciled is referred to as matching. You can choose to perform matching automatically by using the Match Automatically function. Alternatively, you can manually select lines in both panes to link each bank statement line to one or more related bank account ledger entries, and then use the Match Manually function. The Applied checkbox is selected on lines where entries match.

You can fill in the Bank Statement Lines pane in the Bank Acc. Reconciliation window in the following ways:

  • Automatically, by using the Import Bank Statement function to fill in the lines according to actual bank statements based on a file provided by the bank.
  • Manually, by using the Suggest Lines function to fill in the lines with ledger entries for invoices that have outstanding payments.

When the value in the Total Balance field in the Bank Statement Lines pane equals the value in the Balance To Reconcile field in the Bank Account Ledger Entries pane, you can choose the Post action to reconcile the applied bank account ledger entries. Any non-applied bank account ledger entries will remain in the window, indicating that payments processed for the bank account are not reflected in the latest bank statement, or that some payments were received on checks.

Note

If bank statement lines relate to check ledger entries, then you cannot use the matching functions. Instead, you must choose the Apply Entries action, and then select the relevant check ledger entry to match the bank statement line with.

To fill bank reconciliation lines by importing a bank statement

  1. Choose the Search for Page or Report icon, enter Bank Account Reconciliation, and then choose the related link.
  2. Choose the New action.
  3. In the Bank Account No. field, select the relevant bank account. The bank account ledger entries that exist on the bank account appear in the Bank Account Ledger Entries pane.
  4. In the Statement Date field, enter the date of the statement from the bank.
  5. In the Statement Ending Balance field, enter the balance of the statement from the bank.
  6. If you have a bank statement file, choose the Import Bank Statement action.
  7. Locate the file, and then choose the Open button to import the bank transactions into the lines of the Bank Acc. Reconciliation window.

To fill bank reconciliation lines with the Suggest Lines function

  1. In the Bank Acc. Reconciliation window, choose the Suggest Lines action.
  2. In the Starting Date field, enter the earliest posting date for the ledger entries to be reconciled.
  3. In the Ending Date field, enter the latest posting date for the ledger entries to be reconciled.
  4. Select the Include Checks check box to any suggest check ledger entries instead of the corresponding bank account ledger entries.
  5. Choose the OK button.

To match bank statement lines with bank account ledger entries automatically

  1. In the Bank Acc. Reconciliation window, choose the Match Automatically. The Match Bank Entries window opens.

  2. In the Transaction Date Tolerance (Days) field, specify the span of days before and after the bank account ledger entry posting date within which the function will search for matching transaction dates in the bank statement.

    If you enter 0 or leave the field blank, then the Match Automatically function will only search for matching transaction dates on the bank account ledger entry posting date.

  3. Choose the OK button.

    All bank statement lines and bank account ledger entries that can be matched change to green font, and the Applied check box is selected.

  4. To remove a match, select the bank statement line, and then choose the Remove Match action.

To match bank statement lines with bank account ledger entries manually

  1. In the Bank Acc. Reconciliation window, select a non-applied line in the Bank Statement Lines pane.

  2. In the Bank Account Ledger Entries pane, select one or more banks account ledger entries that can be matched with the selected bank statement line. To choose multiple lines, press and hold the Ctrl key.

  3. Choose the Match Manually action.

    The selected bank statement line and the selected bank account ledger entries change to green font, and the Applied check box in the right pane is selected.

  4. Repeat steps 1 through 3 for all bank statement lines that are not matched.

  5. To remove a match, select the bank statement line, and then choose the Remove Match action.

To create missing ledger entries to match bank transactions with

Sometimes a bank statement contain amounts for interest or fees charged. Such bank transactions cannot be matched because no related ledger entries exist in Dynamics NAV. You must then post a journal line for each transaction to create a related ledger entry that it can be matched with.

  1. In the Bank Acc. Reconciliation window, choose the Transfer to General Journal action.

  2. In the Trans. Bank Rec. to Gen. Jnl. window, specify which general journal to use, and then choose the OK button.

    The General Journal window opens containing new journal lines for any banks statement lines with missing ledger entries.

  3. Complete the journal line with relevant information, such as the balancing account. For more information, see Working with General Journals.

  4. Choose the Post action.

    When the entry is posted, proceed to match the bank transaction with to it.

  5. Refresh or reopen the Bank Acc. Reconciliation window. The new ledger entry will appear in the Bank Account Ledger Entries pane.

  6. Match the bank statement line with the bank account ledger entry, either manually or automatically.

See Also

Dynamics 365 Business Central
Managing Bank Accounts
Setting Up Banking
Working with Dynamics NAV