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Dynamics 365 Community / Forums / Business Central forum / Payment Reconciliation...
Business Central forum

Payment Reconciliations and Bank Reconciliations

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Posted on by Colin Pich

Hello,

I am working with a new client on their bank reconciliations in Business Central. I have found that there is a Posted Payment Reconciliation already in the system for the time period of July 1, 2017 - March 31, 2018. However it appears as though this Payment Reconciliation was not transferred to a Bank Reconciliation. When I try to start a new bank reconciliation for the period of July 1, 2017 - March 31, 2018 it is only importing two transactions from July 2017, and these transactions are not on the Posted Payment Reconciliation. When I attempt to start a new Payment Reconciliation for the period of April 01 - April 30, 2018, it pulls in transactions without issue.

So:

How can I pull in the transactions from the July 1 2017 - March 31 2018 Posted Payment Reconciliation to do the bank reconciliations for that time period? 

And why are these 2 new transactions from July 2017 now appearing? Were they perhaps deleted off the original Posted Payment Reconciliation?

Thanks,

Colin

Categories:
Financial Management
I have the same question (0)
  • Dave Boehm Profile Picture
    Dave Boehm 645 on at

    Colin,

    A lot of this depends on the bank you are interacting with.  As an example, I have a client who uses TD Ameritrade.  Every time they pull in transactions for a given time period, they get everything.  This happens regardless of whether they've already pulled data in, previously.

    Chase Bank does it the exact opposite way.  Once you've brought a transaction into a prior Payment Reconciliation, Chase won't re-import it again even when you are working in a different Payment Reconciliation batch, and you specify the same dates.

    I know this doesn't completely answer your question, but it is something to bear in mind.

  • Colin Pich Profile Picture
    Colin Pich on at

    Hi David,

    Thanks, that could explain why I'm not able to pull in the transactions again.

    I was working with this client yesterday afternoon and I was able to train them on the Payment Reconciliation function. We were able to pull in transactions (6 out of 10 were automatically matched) and reconcile all of the differences on the Payment Reconciliation. Then we clicked on Post Payments and Reconcile Bank Account button. So this means that the Bank Account is already reconciled and we do not have to a Bank Reconciliation now in Business Central? Is there a report that I can run for the Posted Payment Reconciliation?

    Thanks

  • Suggested answer
    Dave Boehm Profile Picture
    Dave Boehm 645 on at

    Hi Colin,

    The short answer to your first question would be "yes".  Of course, you should look at the bottom line totals on the screen to see whether your bank account in BC is actually in balance with your bank.

    For your second question, I would suggest navigating to the "Posted Payment Reconciliation" page.  Once you get there, you'll snap to what is going on pretty quickly.  Needless to say, the BC "Help" does a good job of explaining how to use the Payment Reconciliation approach vs. the traditional monthly reconciliation approach.

    Good luck!

    --Dave--

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