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General Ledger - Account Reconciliations

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Is it possible to set up a general ledger account so reconciled items are flagged in some way?

We have a suspense account with many entries and we need to work through them as a team to rectify and post corrections. It would make life so much easier if we could see see has been corrected.

I have just started at the company and I am introducing best practice. We need to fix some old problems along the way.

I am a qualified accountant to 30+ years experiences in companies from £6m to £10b t/o.

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Ludwig Reinhard Microsoft Employee on at

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Hi Charity Joe,

What I have seen in the past is that people used a separate item findim that was posted with each item transaction and that helped people to reconcile GL and inventory easily.

Would that be an option for you?

Best regards,

Ludwig

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Junaid Idrees on at

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Hi Charity Joe,

I totally agree with Ludwig, even in couple of implementations specially in manufacturing, distribution and logistics based model i always suggest to keep not only "Item" financial dimension but also "item group" as well for smooth reconciliation.

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Community Member on at

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Hi Ludwig,

Many thanks.

I don't understand what you mean by "separate item findim". Is this a NAV terminology?

I'm more a SAP/Oracle/Essbase guy.

Best,

Simon

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Ludwig Reinhard Microsoft Employee on at

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Hello Simon,

Do you operate D365FO or Nav or another system?

Would be great if you could clarify.

Many thanks,

Ludwig

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Community Member on at

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Hi Ludwig,

Dynamics 365 Business Central

Version GB Dynamics Nav 13.3

Ver. 13.0.27183.0

I hope that helps,

Simon

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Ludwig Reinhard Microsoft Employee on at

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Many thanks.

You ended up in the wrong forum.

Will move this thread to the BC one.

Best regards,

Ludwig

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Marco Mels on at

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Hello,

Maybe this helps.

How to Mark General Ledger Accounts for Reconciliation - Dynamics 365 Business Central Community

Thanks.

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Community Member on at

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Hi Marco,

Many thanks but that isn't what I need. I am looking for a function like the Apply Entries function you have in the Customer Ledger but in the General Ledger. So items can be checked off as matched.

There may be a confusion caused by terminology differences between the US and here in the UK.

Simon

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Marco Mels on at

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Hello,

No problem, I am from EMEA and work with UK customers / partners. Feel free to raise it via your CSP / Dynamics NAV.

Thanks.

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Yvonne_Klomp 15 on at

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Hi Simon,

The function Apply Entries on the General Ledger Entries is available in the BC LocalFunctionality of some European countries (France, Netherlands, Denmark). However, unfortunately this functionality is (apparently) not available in US, UK and HK.

Does anyone know if this functionality will be made available in US, UK and HK? Or is it already and can I just not find it?

Kind regards,

Yvonne

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