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Bank Reconciliation Many to Many Matching

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Posted on by KC-23051329-0 4
Does anybody have a work around for matching multiple Bank Statement items with multiple Bank postings as there is a Error warning that this is not possible. We are trying to bring previously manual reconciled Bank accounts upto date for a closed year so do not want any GL postings. 
 
Many thanks
Kevin
Categories:
Financial Management
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 8,311 Super User on at
    Bank Reconciliation Many to Many Matching
    Got it, thanks for the explanation. Your solution is a good one.
     
     
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    KC-23051329-0 Profile Picture
    KC-23051329-0 4 on at
    Bank Reconciliation Many to Many Matching
    Hi Valentin.
     
    When we have paid our employees monthly salary (net of taxes and other deductions) on the Bank Statement they were paid individually, along with Vendor Account Expenses payments or deductions but the posting the Bank Account Ledger entries were a consolidated Net Payroll payment plus the individual Vendor Account Payments - hence there are many to many entries.
     
    We have tried posting the difference to the GL even though it was in a closed year, but it did not post the reconciliation. The solution we are going for is to delete the individual lines in the imported bank statement and replace with a combined single Payroll Statement which we can then match to the Bank Account Payroll Journal and the Vendor Expense Payments i.e. the 1 to Many match. 
     
    Thanks for your interest   
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    YUN ZHU Profile Picture
    YUN ZHU 64,622 Super User on at
    Bank Reconciliation Many to Many Matching
    Unfortunately, this cannot be done.
    Unless you split Bank Account Ledger Entries and Bank Statement Lines before.
     
    PS: Missing a feature? Post or vote for ideas on: aka.ms/BCIdeas
     
     
    Thanks.
    ZHU
     
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 8,311 Super User on at
    Bank Reconciliation Many to Many Matching
    As far as I know the system only allows many to one matching. So unfortunately, its not possible. Also, posting a bank rec. will not create GL entries, or do you mean that you might have to create GL entries to overcome the system not allowing many to many matching?
     
    But can i confirm why you need many to many matching, even if its for previously manually reconciled bank recs, what transactions do you have, or how were they entered that need many to many? Usually its many to 1, either 1 bank statement entry to many GL entries, or the other way around - one GL entry to many bank statement entries. 
     

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