associating multiple Bank accounts with a single GL main account will not allow proper bank reconciliation

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Posted on by Abdo Khoury

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Dear

if i associate multiple Bank accounts with a single GL main account will that stop me from being able to do bank reconciliation

correct ?

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Ludwig Reinhard Microsoft Employee on at

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Hi Patrick, I don't think so. Why shouldn't your GL Balance match your bank balances just because you use the same main account for different banks. With fixed assets you basically have the same issue where multiple fixed assets are recorded on the same main account. This fact alone does not result in reconciliation problems; it just makes it a bit more difficult. Best regards, Ludwig

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Abdo Khoury 14,855 on at

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Well

when i attach a create a bank account and attach to it a GL main account that has already been attached to other bank account i get the following warning message from AX itself

warning message

Main account 512000 is already used by bank account BANKAccount2. If you associate multiple bank accounts with a main account, the General Ledger Bank Reconciliation report will contain information from multiple bank accounts.

appreciate your feedback

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Abdo Khoury 14,855 on at

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my concern what that if AX is warning against multiple Bank Accounts linked to a single GL, then it must have repercussions on the bank reconciliation

appreciate your feedback

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Ludwig Reinhard Microsoft Employee on at

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Hello Patrick,

You are right, bank reconciliation will get more difficult in the sense that you have to add up the balance of your two bank accounts if you want to reconcile your GL account with your bank balances. Yet, I do not see that this fact results in a reconciliation issue.

A reconciliation problem can arise if you are e.g. doing a foreign currency revaluation in GL on the GL main accounts that are linked to your bank accounts. Yet this difference will arise irrespective of whether you link this GL account to one or several bank accounts.

If you are not sure whether you want to do that I suggest that you are testing your Business Transactions in a demo Environment and then try to run the bank reconciliation Report available in the GL Report section just to test whether or not you are able to reconcile GL and the Bank module.

All the best,

Ludwig

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Abdo Khoury 14,855 on at

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Thank you for the above Ludwig, a question which has come to mind and i didn't get the chance to test yet. when we are doing bank reconciliation are we reconciling the Bank Statement v/s the Module Bank Account or the Ledger Main Account.

if it is versus the Module Bank Account then this will not be an issue

but if it is reconciling against the Ledger Main account then having mutiple Bank Accounts associated to the same GL account will make it more complicated to reconcile. Complicated NOT Impossible

am i right ? please feel free to correct me if i am wrong

regards

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Ludwig Reinhard Microsoft Employee on at

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Hi Patrick,

Maybe an example helps clarify things :-)

I setup two bank accounts that I linked to the same GL account no. 283080

On bank account 1 (280400-Commerzbank) I recoreded 100$

On bank account 2 (C2) I recorded 200$

If you run the bank reconciliation report in GL and select "Show Details" you will be able to identify the balance per bank account individually. Please see the next screenprint.

Hope this helps,

Ludwig

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