Journal Entries

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Posted on by DZ-03051452-0

Hi, we're switching from using Quickbook to Business Central these weeks and I'd like to get ready to use the new software and I'm trying to figure out how to enter journal entries showing expenses made by employees from their company credit cards. On QB it was very simple, I record the cost in debit and in credit I use the bank account linked to the employee's card. I've done some tests on Cronus Uk ltd but it's not so straightforward, could someone direct me to a thread where these types of topics are covered (I think this has been covered already?).

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Dynamics 365 Business Central

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Bilal Haider 248 on at

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Hi,

I will try to explain it from start as it will help me in reminding this process again.

If there is no bank account then create a new bank account. To create a new bank account follow these steps:

Choose the icon, enter Bank Accounts, then choose the related link.

On the Bank Accounts page, choose the New action.

Fill in the fields as necessary. Most important is Bank Acc. Posting Group field which connects the bank account to the underlying G/L account in the balance sheet.

You can see below I have just created a new bank account for this example and put Bank Acc. Posting Group. So anything posted against this bank account will actually go to the G/L account linked to this Bank Acc. Posting Group which is 18100 in this case.

Now we have bank account so let's go to general journal, here we put the G/L account in account type and Account No that we want to debit. In business central if amount is positive then it means debit to the account mentioned in account no and credit to the account given in balance account no, which is B010 in our example.

After lines are posted we can see following entries in our general ledger, a debit entry to cost account and credit entry to the account linked to bank.
Gerardo Rentería Ga... 19,937 Most Valuable Professional on at

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Hi

I hope this can help you.

https://www.youtube.com/watch?v=-QfbeUHov4o

https://usedynamics.com/continia-expense-management/

BR

GR
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Jun Wang 7,761 Super User 2025 Season 1 on at

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credit card could be set up either as a bank card and the process is as previous response suggested. The credit card would be assigned a bank account posting groups to separate from the rest of the banks.

credit card could also be set up as a vendor, the process is more complicated than previous one.

Jun Wang
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Valentin Castravet 28,279 Super User 2025 Season 1 on at

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How are you setting up your credit cards in Business Central? Are they setup as Bank Accounts? If yes, then it would work the same way as in Quickbooks. You would debit the expense account and credit the bank account in a general journal.

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