payment reconciliation journal - post payments and reconcile bank account

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Posted on by AD-22040756-1

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I'm wondering how others are using the 'post payments and reconcile bank account' function in the payment reconciliation journal. If you reconcile as well does that mean you would only post once per month and the journal would contain lines for the whole month?

I was thinking the payment reconciliation journal is good to bring daily vendor/customer payments from your bank not yet registered in the system, but unless i am missing something the reconciling function only works if you're doing this once a month? If you're reconciling the daily transactions, that creates a posted bank statement for each day and that doesnt really work

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Financial Management

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AD-22040756-1 622 on at

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RE: payment reconciliation journal - post payments and reconcile bank account

I am aware what I wrote is right - my question was to ask how others in the community are using the functionality.

As far as I can see using the 'post payments and reconcile bank account' function only works if you are doing this once a month so you can reconcile with your monthly bank statement. But I wanted to see if there are use cases outside of that that the community found?
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Amit Baru 3,025 on at

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RE: payment reconciliation journal - post payments and reconcile bank account

Hi,

I have checked and you have written right.

Regards

Amit Sharma

www.erpconsultors.com
AD-22040756-1 622 on at

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RE: payment reconciliation journal - post payments and reconcile bank account

bump