Dynamics Community Forum Thread Details

Bank Reconciliation

Hello,

I have been trying to get everyone on Nav 2018 to start bank reconciliation but i am experiencing a probelm.

After creating a new bank card, i entered the required information and clicked saved. I then discovered that the balance (LCY) is 0.00. I expected that when i entered all required information on the card, the card will automatically link with the bank GL and then displays the bank GL balance but this was not so. Please i need help

Also, i guess because of this, when i go to bank reconciliation and try to reconcile the new bank statement (i mean for the new bank card i created), no transaction came up at the bank GL side so i was not able to do the reconciliation. Please help, this is urgent!

Hello,

Unfortunately, getting the bank reconciliation to work after the fact is little more complicated than just creating a card for the bank account. That is a good start however. Now you need to create a posting group for the bank account that points to the G/L Account of the bank account. Then you need to get all the entries from the G/L account to the bank ledger for them to show as transactions against to the bank account and then you can run the bank account reconciliation.

Whenever you post anything to the bank account, the bank account needs to be either the Account or the counter account of the transaction. The only way to fix the current data is to build a journal of all the entries against the Bank GL Account. In this journal you must use the bank account as the Account and use the Bank G/L Account as the counter account.

This way, you will reproduce the entries to the bank ledger, but the G/L account entries go in and out, leaving the G/L account showing correct balance. I guess this sounds complicated, but it really isn't. Please let me know if you need further assistance.

Tero

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