Dynamics Community Forum Thread Details

Posting multiple vendor payments as 1 bank account entry (for bank recs)

We have always had a problem with vendor payments in that each vendor payment posts as a separate bank ledger line. This makes it difficult to do bank recs, as the bank posts the entire payment run as a single entry that we then have to match against many individual entries in our books.

What we would like to do is post the entire payment run as 1 bank entry. This solution was suggested to us by the BC/NAV medics at the recent Community Summit - not putting a balancing bank account entry for each line, but then adding a new bank account entry for the whole payment run. Sounded good, but it didn't work. At all.

If there is no balancing account then you can't export a payment file. If you try using a GL account as the balancing entry type, it won't generate a payment file. How can I get this to work - multiple payments generating an export file for my bank that then results in 1 bank ledger entry.

We are currently on BC 14 On-prem

Any help would be appreciated - and if you solve it and are in Toronto we might be able to throw in tickets to one of our Mirvish shows!!

Thanks

Categories:

Financial Management

If you're using the EFT/ACH functionality, as far as I know achieving what you want with standard functionality isn't possible. When you run the Suggest Vendor Payments function, you have the option to create one line per vendor, which I assume you're already utilizing since a single bank ledger entry is created for each vendor. However, there's no option to post all payment lines as a single bank ledger entry without some customization. As you pointed out, the journal needs to be formatted in a specific way for the function that exports the payment lines to an EFT/ACH file, which is where the customization comes into play.