Hi all,
Hope that your summer is going well.
First of all, i am sorry for taking from your time because i am an IT person and not a "Cash and Bank" or "Accounting" specialist.
I have been doing some reviews on internal processes, and 1 particular thing got me.
"Advanced bank reconciliation".
What i have seen is not something i like based on the fact that Microsoft offers so much more in this space.
What we are doing basically is the following - we import the bank statement and match manually like click on the bank statement and afterwards find the corresponding line in d365 books.
No matching rules, no matching sets, no anything.
Of course, for small legal entities this is fine, but for LE with 1k transactions a month this is nightmare.
Today i have been reviewing one "Bank Reconciliation" statement and i noticed the following.
Basically, besides amount and date there is nothing else i can create a rule and match automatically on.
All the videos and documentation i have gone through almost every time uses the Reference No. that most of the time = the Payment reference...
My question is.
The payment reference is something that accountants are putting in the journal, correct?
If they leave it blank it will be blank during reconciliation?
Can you please advise me on the best basic matching rules we can implement initially?
In your experience does a rule based only on amount and date working properly or it opens the door for mistakes ?
I will appreciate any advice and proven working practise in this area as it is brand new to me.
From configuration perspective i don't have questions right now, because everything else will require the matching rules/sets to be working in the first place.
Thank you.
