Payment Journal Posting Date

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Posted on by ahmed.kimo

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Hi,

One of my customers using payment journal to record a transaction on particular date lets say 27th of Jan then it is sent for approval and takes around from 4 to 6 (or more) days to get it approved and submitted to the bank and can be on 2nd of Feb.

The question , How we can record the exact transaction date in our books (vendor & bank) which is in my case 2nd of Feb, in order to perform the bank reconciliation and verify the statement while reconciling with the vendor.

Hint : in case of considering the transaction date there will be a gab which make difference while performing the bank reconciliation also we can not verify our books with the vendor since our dates different than the dates recorded in his books since this will be recorded based on actual transaction recorded in his bank account.

i tried to use bridging accounting but this will resolve the bank statement issue but the vendor statement will remain the same.

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Dynamics 365 Finance

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Giorgio Bonacorsi 1,087 on at

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Hello,

Good question. You should delay posting the journal until you know the exact transaction date (when the transaction appears on the bank statement).

You can proceed with creation and approval earlier, but the actual posting should be done only at that confirmation point.

For added security, consider:

- Setting the journal as private (limits visibility/editing): https://dax365fo.org/2024/06/01/blocking-journal/
- Restricting posting rights to specific users: https://dax365fo.org/2024/05/28/posting-restriction/

Thank you,
Giorgio

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