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How to summarise vendor payments to one line for bank reconciliation?

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Posted on by Grace Valentine

Is there a way to summarise all vendor payments in a payment journal into 1 line for bank reconciliation purposes?

The scenario is a vendor payment file for several hundred vendors. However the entry for this payment is a single line in the bank statement (which is imported in). It will be very difficult to match several hundred lines in the system to the single bank statement line. So we need the payment journal to create a single, summarised line in the bank account transactions.

Similar is required for DD collections. We collect 1000 DD for customers in one batch, it would be incredibly difficult and time consuming to match these against one line in the statement.

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Amit 2,559 on at

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Hi,

Refer the below links

https://erpconsultors.com/auto-vendor-payment-creation-from-vendor-ledger-entries/

Regards

Amit Sharma

www.erpconsultors.com

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Gavin 2,508 on at

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Hi,

I wrote on a blog post on how to do this. You can view it here

https://thedynamicsexplorer.com/2020/10/30/dynamics-365-business-central-how-to-post-one-bank-account-ledger-entry-for-multiple-payment-entries-in-the-payment-journal/

Essentially you don't enter a balancing account on each vendor payment line. Instead, you balance to one bank account line as per below:

So, the entries are below:

Hope this helps

Thanks

Gavin

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Grace Valentine on at

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Thank you for the response. If I don't have a balancing account in the line I cannot export the file for the bank. Is there some way of identifying the bank that the payments should be made from without the balancing account?

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Grace Valentine on at

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Hi Amit

This method still shows as multiple lines on the bank reconciliation i.e. 1 per vendor payment. Is there something else I need to do so that only 1 line, summarising all vendor payments, appears on the bank rec?

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Gavin 2,508 on at

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Hi,

What error message do you get? I've never had issues with this however we tend to use a bespoke export routine based on a predefined data definition format for exporting. (I'm not part of development so I dont know much how this works I'm afraid)

Thanks

Gavin

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