EM Bank Account Reconciliation
The main purpose for using the EM Bank Account Reconciliation feature is to find missing transactions and secondly to reconcile transactions with a statement.
The EM Bank Account Reconciliation feature is very similar to the standard bank reconciliation feature in Dynamics 365 Business Central, but EM Bank Account Reconciliation comes with a few advantages:
- You can reconcile a bank account, G/L account, or vendor.
- You can see the status of expenses.
Monthly reconciliations can be carried out by suggesting lines, importing statement transactions, or entering the information from a statement manually while comparing paper statements from the bank to transactions in Expense Management.
Using EM Bank Account Reconciliation
You can choose to match either automatically or manually.
Automatic matching
- Choose the icon, enter EM Bank Account Reconciliation, and then choose the related link.
- On the action bar, select New.
- In the General FastTab, select a bank account type.
- In the General FastTab, select a bank account number. After selecting a bank account number, any bank transaction entries connected to this account will be displayed automatically.
- There are two ways of getting bank statement lines:
- On the action bar, select Bank > Import Bank Statement.
- Select either Import a new Bank Statement File or Find existing statement transactions in the system, and select OK.
- On the action bar, select Process > Suggest Lines.
- In the Options FastTab, fill out the fields according to your preferences, and select OK.
- On the action bar, select Bank > Import Bank Statement.
- In the action bar, select Matching > Match Automatically.
- When you have matched both sides, copy the amount from Total Balance and insert it into Statement Ending Balance.
- In the action bar, select Process > Post to post the reconciliation.
If you want to view posted reconciliations, choose the icon, enter EM Bank Account Statements, and then choose the related link.
Manual matching
- Choose the icon, enter EM Bank Account Reconciliation, and then choose the related link.
- On the action bar, select New.
- In the General FastTab, select a bank account type.
- In the General FastTab, select a bank account number. After selecting a bank account number, any bank transaction entries connected to this account will be displayed automatically.
- There are two ways of getting bank statement lines:
- On the action bar, select Bank > Import Bank Statement.
- Select either Import a new Bank Statement File or Find existing statement transactions in the system, and select OK.
- Referring to your bank statement, enter the information into the Transaction Date, Type, Description, and Statement Amount fields.
- On the action bar, select Bank > Import Bank Statement.
- Select the bank statement line and the bank transaction entry you want to match, and then select Matching > Match Manually on the action bar. Repeat the process for each bank statement line.
- In the action bar, select Process > Post to post the reconciliation.
If you want to view posted reconciliations, choose the icon, enter EM Bank Account Statements, and then choose the related link.