Direct Posting -- Checking Account

(0) Share

Report

Posted on by john.ellis

3,480

Hi:

Regardless of whether the account is going to be used in a Bank Account Posting Group, is there a good reason to have "Direct Posting" turned on for a Checking Account?

Thanks!

John

Categories:

Financial Management

Reports and Business Intelligence

Data Migrations

Other

All responses (5)

Answers (0)

Suggested answer

Inge M. Bruvik 32,744 Moderator on at

Like (0)

Report

RE: Direct Posting -- Checking Account

I fully support Kim's view here.

Way to often we see examples of direct postings to G/L Accounts that should never had any direct postings in them and that cause trouble while reconciling the accounting.
Suggested answer

S.Kawamura 1,520 on at

Like (0)

Report

RE: Direct Posting -- Checking Account

Hi,

When using the Bank Account Posting Group, it is not recommended to turn "Direct Posting" On.

Even if the Bank Account Posting Group is not used, it is better not to turn "Direct Posting" of CheckingAccount ON, but the system cannot determine if the account is a bank account or not.

I hope this helps you.

S.Kawamura
Suggested answer

Manan_Shah 1,457 on at

Like (0)

Report

RE: Direct Posting -- Checking Account

Hi John,

I suggest turn off the Direct Posting to Inventory, COGS and Purchase Account to avoid unnecessary posting by users.

Hope this will help.

Many Thanks,
Manan
Suggested answer

Dynamics 365 on at

Like (0)

Report

RE: Direct Posting -- Checking Account

Hello John,

Hence it's not suggestable to make Direct Posting Boolean Turn ON instead of using Bank Account Posting Group.

Because, While doing the transaction if you select the Balancing Account as a G/L Account then your Bank Account Ledger Entries not going to Impact and It will come issue while doing Bank Account Reconciliation.

In Bank Account Reconciliation, For Balancing the statement system take form Bank Account Ledger Entries itself.

Bank Account Reconciliation

Hope It will Help You,

Please Verify my answer so that it will help others community also.

Thanks
Suggested answer

Dallefeld 11,423 User Group Leader on at

Like (2)

Report

RE: Direct Posting -- Checking Account

Any general ledger account with a subsidiary (and that includes the Bank Accounts) should have direct posting turned OFF