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Hi D365 community
I'm working with a client to implement D365, they have ~ 70 bank accounts across ~ 40 legal entities (~ 5 banks and ~ 7 currencies). We're working to design a shared chart of accounts. I know best practice is to create one main account per bank account, but I'm wondering about your experience implementing and sustaining at clients which have a 1:* relationship between main accounts and bank accounts. We're considering one main account per currency instead of per account, and linking each currency-specific main account to multiple bank accounts (of that currency). I'm aware of the warning "Associating more than one bank account with a single main account can result in unexpected or inaccurate results when reconciling that bank account or when generating cash flow reports." when configuring Bank accounts, looking for something beyond that from folks in the implementation side, but especially sustainment.
Impacts to:
Thanks very much!
Hi Aaron,
I would like to add a 5th bullet point and call it 'effects on financial audits'.
Before using this 1-to-many relationship, show your auditors an example and ask them if this would be ok for them.
In general:
Why do you worry about setting up many bank accounts?
Is it the time needed to set them up?
If this is your only major concern then I would personally setup those accounts rather than running the risk of getting stuck somewhere in the future because of some time saved with the system configuration.
Best regards,
Ludwig
I did discuss this approach with a few customers in the past before. They did not want to do it as they did not feel comfortable that it would have the correct visibility on the ledger accounts from financial reporting. To be able to separate it, you should then implement a new financial dimension which is more cumbersome to just have a GL account directly with the balance.
Yes, it is a bit more setup time to created and control which LE's will use which ledger accounts for the bank accounts, but probably it is the best solution to have a ledger account per bank.
Sorry for the late reply and thank you for your thoughts on this André and Ludwig!
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