Applying Payments Automatically and Reconciling Bank Accounts
You must regularly reconcile your bank, receivables, and payables accounts by applying payments recorded in the bank to their related unpaid invoices and credit memos or other open entries in Microsoft Dynamics NAV.
You can perform this task in the Payment Reconciliation Journal window by importing a bank statement file or feed to quickly register the payments. Payments are applied to open customer or vendor ledger entries based on matches between payment text and entry information. You can review and change automatic applications before you post the journal. You can choose to close any open bank account ledger entries related to the applied ledger entries when you post the journal. The bank account is automatically reconciled when all payments are applied.
To import bank statements as a bank feed, 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 following table describes a sequence of tasks, with links to the topics that describe them.
| To | See |
|---|---|
| Apply payments to open customer or vendor ledger entries by importing a bank statement, and reconcile the bank account when all payments are applied. | How to: Reconcile Payments Using Automatic Application |
| Manually apply payments by viewing detailed information about matched data and suggestions for candidate open entries to apply payments to. | How to: Review or Apply Payments After Automatic Application |
| Resolve payments that cannot be applied automatically to their related open ledger entries. For example because the amounts differ, or because a related ledger entry does not exist. | How to: Reconcile Payments That Cannot be Applied Automatically |
| Link text on payments to specific customer, vendor, or general ledger accounts to always post recurring cash receipts or expenses to those accounts when no documents exist to apply to. | How to: Map Text on Recurring Payments to Accounts for Automatic Reconciliation |
See Also
Dynamics 365 Business Central
Managing Receivables
Sales
Working with Dynamics NAV