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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / How to reconcile a ban...
Finance | Project Operations, Human Resources, ...
Answered

How to reconcile a bank statement with date differences

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Posted on by M Anas Khan 1,418

Hi Community!

I need your help in a bank statement reconciliation scenario. A company uses wire transfers (funds transfer from company bank account to vendor bank account via banking portal) to pay its vendors. They follow a business process where a vendor payment journal is posted in AX 2012 for example on 07/04/2020 however the actual funds transfer happens after a couple of days i.e. on 09/04/2020 via banking portal. Now when they match bank statement transaction dates with payment journal voucher posting date in GL, they find discrepancies because of the difference between posting date and funds release date.

Please suggest how can we mitigate this discrepancy in Dynamics AX 2012.

  • M Anas Khan Profile Picture
    M Anas Khan 1,418 on at
    RE: How to reconcile a bank statement with date differences

    Thanks Ludwig!

    Your suggestion was really helpful!

  • Verified answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: How to reconcile a bank statement with date differences

    Hi,

    Its in the bank parameters form in the 'bank reconciliation' tab. Just check the date difference parameter and enter a number for the days that represents your difference. Based on the data shared above, this should be 2.

    Can you try whether this parameter setting makes a difference?

    Best regards,

    Ludwig

  • M Anas Khan Profile Picture
    M Anas Khan 1,418 on at
    RE: How to reconcile a bank statement with date differences

    Hi Ludwig,

    The client uses ordinary bank reconciliation. No I am not aware of this parameter. Can you please elaborate the purpose and use of this parameter?

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: How to reconcile a bank statement with date differences

    Hi,

    Do you use the ordinary or the advanced bank reconciliation functionality?

    Have you checked the bank parameter 'validate difference' where you can specify an allowed date difference?

    Best regards,

    Ludwig

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