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Bank Reconciliation on G/L Account

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Posted on by MW-10101355-0

Is it possible to do bank reconciliation on G/L Account rather doing on a bank account. We missed to create the bank account and team posted directly into G/L account. is there any way to do reconciliation on G/L account?

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Dynamics 365 Business Central

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Valentin Castravet 24,925 Super User 2024 Season 2 on at

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Bank Reconciliation on G/L Account

No, it’s not possible to perform bank reconciliation against the G/L account directly. If you have a lot of transactions, you can manually reconcile the G/L transactions outside the system, such as in Excel, and then transfer the balance to the bank account card at the end of the month.

Valentin Castravet
Work: Zander ERP Services
Blog: Dynamics 365 Business Central Insights
LinkedIn: www.linkedin.com/in/valentin-c-0500a247/
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Nyakinyua 55 on at

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Bank Reconciliation on G/L Account

Since you won’t be able to use the standard bank reconciliation functionality on the G/L account, I would suggest you post a reversal entry to the G/L account where the transactions were initially posted then create a new entry that posts the same amounts to the Bank Account.
INITMAN007 96 on at

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Bank Reconciliation on G/L Account

Hi,

Yi Long is correct in his answer.

Depending on how many transactions there are you could do the following:

1 Match the transaction in the G/L account until they both match i.e balance per G/L would equal balance per bank statements.

2 Once everything matches, create a bank account and carry on from there as normal.
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Yi Yong 1,491 Super User 2024 Season 2 on at

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Bank Reconciliation on G/L Account

Hello,

Bank Reconcilation can only be done on entries posted into Bank Account Ledger Entries.

Entries posted into the G/L Account directly are not taken into account for.

It is important to set the Direct Posting to False for the Bank's G/L Account in order to avoid this.

Your best bet now is to pass manual journal of all the entries into the subledger.