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How to Use the Payment Reconciliation Journal

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Posted on by john.ellis

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Hi:

I have never understood how the Payment Reconciliaition Journal works.

Can you process only one record within the Payment Reconciliation Journal, or do all records in the Journal get processed?

What does "Apply" mean, when it comes to the Payment Reconciliation Journal?

When you "Post" does that mean that it's updating accounts in the G/L?

When you choose "Post and...", is it updating both the G/L and the Bank Reconciliation?

Are there any issues caused, by inserting a G/L account at the end of any of the records?

What is that "Match Confidence" all about? Can you still process a record even though is specifies no confidence?

Thanks!

John

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john.ellis 3,482 on at

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RE: How to Use the Payment Reconciliation Journal

Thank you, All, for the responses! I do look forward to reviewing others, as well.
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DAnny3211 9,274 Super User 2024 Season 1 on at

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RE: How to Use the Payment Reconciliation Journal

hi

look this

learn.microsoft.com/.../

DAniele
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Marco Mels on at

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RE: How to Use the Payment Reconciliation Journal

Hello,

You can create a data exchange definition file based on an exported Bank Transaction file from your bank. When done, you can import the file into the Payment Reconciliation Journal. This will list all open transactions from your bank and you need to map these to either bank, vendor, customer, general ledger, etc.

After accepting, you can either book the payments or also book them and reconcile bank accounts.

learn.microsoft.com/.../receivables-apply-payments-auto-reconcile-bank-accounts

To make this process more efficient, you can map text on recurring payments to accounts for automatic reconcilation:

learn.microsoft.com/.../receivables-how-map-text-recurring-payments-accounts-auto-reconcilliation

If you do not map texts, you have to do it manually which is also fine. Only mapped transactions can be posted.

Hope it helps.

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