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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Bank Reconciliation fo...
Finance | Project Operations, Human Resources, ...
Suggested Answer

Bank Reconciliation for bulk transactions

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Posted on by AbdallahYousef 25

Dears,

I'm looking for method to make bank reconciliation for huge transactions manually, looking to make clear all, or mark all then clear, or I prefer to make reconciliation by Excel.

FYI: I'm using

MS Dynamics365 F&O 

product version : 10.0.8 (10.0.319.30016)

platform version : Update32 (7.0.5493.46018)

I have the same question (0)
  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hello AbdallahYousef,

    When you say bank reconciliation do you also refer to settling the payments e.g. of your customers with the open customer positions?

    Can you explain your payment process in more detail especially how you handle and settle customer payments?

    Many thanks and best regards,

    Ludwig

  • AbdallahYousef Profile Picture
    AbdallahYousef 25 on at

    Hi Ludwig Reinhard,

    Actually the transaction of payment process is simple but monthly around 1 Million records:

    Customer invoice, from general journal in General ledger module --> then payment from customer payment in account receivable module (The payment reference field is mandatory to filled)

    Vendor Invoice Journal, from Account Payable --> then payment from Vendor payment in account payable module (The payment reference field is mandatory to filled)

    This transactions recorded in Dynamics system through integration with other system (Cash Control system)

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi AbdallahYousef,

    Many thanks for the update.

    If customer and vendor payments are made in AR / AP payment journals then you can use the advanced bank reconciliation to match those payments with the records that you can find on your bank statements.

    Yet, I am not sure how good and exact the standard matching rules can handle your on average 50000+ transactions per day.

    For such volumes of payments to be reconciled, most companies I am aware of worked with some specialized software; either self-developed or from ISV vendors.

    This does not mean that the standard advanced bank reconciliation process is not able to handle such volumes. It is just that I have not seen that personally in practice but feel free to put it to the test.

    If you are not already aware of the following MS docs site (docs.microsoft.com/.../configure-advanced-bank-reconciliation) have a look at it.

    Best regards,

    Ludwig

  • AbdallahYousef Profile Picture
    AbdallahYousef 25 on at

    Thanks for your reply, did you know if there any entity from DMF can reconcile the transaction ?

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Good morning AbdallahYousef,

    DMF might certainly be able to help here to some extend.

    The main issue is in my opinion how the settlements are made based on the payments made or received.

    As an example, do your customers make over/underpayments, withhold money, deduct cash discounts, summarize payments, send summarized payment advices, etc.

    Depending on how those payments and settlements are planned to make, DMF might work or might need a modification.

    I would personally expect that you might need some modifications for handling that large volume of data.

    Best regards,

    Ludwig

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