Bank Reconciliation

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Posted on by PETERFL

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We have been using Dynamics 365 Business Central cloud-based subscription software from 1^st June 2020 to the present. However, we have not implemented the bank reconciliation module, and every month after we close the month we send to our external accountants the bank statement, the general ledger, and other reports.

They then prepare a manual bank reconciliation in Excel. Adjustments and errors are not posted in the current month because the month had been closed but are posted in the subsequent month. What are the steps needed to implement the bank reconciliation module based on the present scenario ?

The main Bank account value balances with the Bank account in the general ledger in Dynamics. What are the steps needed to implement the bank reconciliation module based on the present scenario?

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Dynamics 365 Business Central

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Valentin Castravet 31,262 Super User 2025 Season 2 on at

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Bank Reconciliation

Three things:

1. You need to reconcile all the transactions since 1st June 2020, as the system thinks they are unreconciled. To do this, I would do one giant bank rec., for example as of February 29th 2024 to reconcile everything until that date on the bank rec. I would ensure the ending balance of this bank rec. is correct. After this, starting with March 2024 you can do your regular monthly bank recs.

2. In terms of system setup, there is not a lot of setup to implement the bank reconciliation module. You need to ensure on the bank card the Last Statement No. field has a value, as this is used by the system to assign each bank rec. a number

3. You need to decide how you will import your bank statements in the system for bank reconciliations. If you're doing it manually, there is no setup. You can also setup the import of a csv file (preferred method), where in each bank rec. you would import a monthly csv statement from your bank with the bank statement information. Typically your partner will configure this.

If you're in NA, you can also use a service called Yodlee to connect BC to your bank account to import bank statement/transactions automatically, however, personally I've had a lot of issues with it and don't recommend it.

And lastly, this is a good guide for using bank recs. in BC: Perform a bank reconciliation in Dynamics 365 Business Central - Training | Microsoft Learn

Valentin Castravet

Zander ERP Services

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Jun Wang 8,200 Super User 2025 Season 2 on at

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Bank Reconciliation

here is a key piece to master : how to set up bank statement import.

https://youtu.be/HX_K1EpsoVs

hope it helps

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YUN ZHU 95,307 Super User 2025 Season 2 on at

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Bank Reconciliation

Hi, just to add some information, in BC23, Microsoft released the Copilot feature to assist with reconciliation. This is already available.

More details:

Introducing: Bank account reconciliation assistance with Copilot (2023 release wave 2)

https://www.youtube.com/watch?v=jhfwx1K0I7Y

Hope this helps as well.

Thanks.

ZHU

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