You’re offline. This is a read only version of the page.
Currently when a payment journal is created from the payment proposal you can select the offset account (a bank account in this case) in either the payment proposal or attach a default offset bank account to a method of payment in this case I am talking EFTs.
The issue this causes is that when you reconcile your bank statement you see a transaction line posted for every vendor payment, however an EFT will leave your bank all in one lump sum so you can reconcile at times 1000 payment to one lump sum needlessly. One workaround I found was to just leave the offset accounts blank and then manually settle the journal to the bank in one line at the bottom of the journal and post.
This does leave some room for human error and rounding issues though and I was hoping AX 2012 had a simpler function where you could default the bank account you want to use but have it hit as one lump sum so it matches what will appear on your bank statement.
If anyone can point me in the right direction that would be great.
Thank you,
Curtis Mah, CMA
*This post is locked for comments
I have the same question (0)I've not tested this for AX2012, but as a business case scenario I'd assign a check number to the EFT which reflects for all the lines of payment in the journal as well as the EFT. This would reduce the probability of human errors.
In case this helps, please let us know as well. :-)
Share
Report
All responses (
Answers (
191
