Microsoft Dynamics 365 Business Central: Reconcile Bank Accounts
Updated: Aug 4, 2021
In this demonstration we'll show you how to reconcile bank accounts with Microsoft Dynamics 365 Business Central.
YouTube Transcript
in this demonstration we'll show you how
00:04
to reconcile bank accounts you can
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import electronic bank statements from
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your bank to quickly fill in the payment
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reconciliation journal so that you can
00:13
then apply payments and reconcile the
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bank account will use the yodel II Bank
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feed service which is installed and is
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included with the license it's setup as
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an extension to business central and is
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typically ready and enabled or it can be
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configured through the assisted setup in
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the scenario we will link a bank account
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will establish the automatic bank import
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match the transactions and then
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reconcile so first let's go ahead and
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link the bank account so I'm logged in
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to business central hard coded on the
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home page is the bank are the bank
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accounts and so first I'll do is I'll
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select on the bank statement service I
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want to create a new linked bank so in
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the online bank account linking window
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you can search that you can choose your
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current bank or if you don't see it in
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the list you can select on the search
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this happens to be our our sample bank
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account and then I'd enter in the
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username the password that you'd use to
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log onto the online bank and then choose
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the next button right and then click
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Next and then I could say ok we've got
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some accounts that are linked so I
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brought in a couple of counts from my
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online bank feed and then I can next
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step is to establish the import so I've
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made the link and now I need to
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establish that automatic import if I
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want to import my bank statements as
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that feed so here in the link you see in
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the ribbon I have the automatic bank
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import setup so with the bank feed setup
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you're all ready to import this is just
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scheduling though so I'll select the
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schedule I'll enable it and then sit in
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the number of days so when the bank feed
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is enabled you could set up to
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automatically import that into the
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payment journals and now you see that's
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that
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is linked now the next step around
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manage or match transactions you have to
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regularly reconcile your bank your
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receivables and payables by applying
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payments that are recorded in the bank
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to their unpaid invoices and credit
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memos or open entries in Business
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Central's so you're going to perform
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that task in the payment reconciliation
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journal window so here is the payment
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reconciliation journal I'll select on
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the checking and from this window you
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immediately see the level of confidence
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meaning low medium and high the
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application has for those matching
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entries right the confidence level is
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driven by the transaction amount the
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date this description or text and then
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from the actions I can go ahead and
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enable the additional options from the
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drop-down menu so go ahead and I'll
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select the test report and I just want
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to sake make sure with this PDF it shows
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me the potential impact so I can preview
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this before I do the the posting of the
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reconciling and then the goal here is to
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provide you guys again with a single
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location next I'll go ahead and perform
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it so month then close it's time to
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reconcile all the banks with the ledgers
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I can go in and open the transactions
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make the necessary adjustments or
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reconciliations and then move on to the
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next task
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so the goal that scenario was to show
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you how the ability of automating and
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linking banking to Dynamics 365 business
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central the benefits clearly to help
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improve efficiency and accuracy and
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remove the need for manual entry while
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staying current with your bank accounts
