EM Bank Account Reconciliation

  • 01/09/2022
  • 4 minutes to read

The main purpose for using the EM Bank Account Reconciliation feature is to find missing transactions and secondly to reconcile transactions with a statement.

The EM Bank Account Reconciliation feature is very similar to the standard bank reconciliation feature in Dynamics 365 Business Central, but EM Bank Account Reconciliation comes with a few advantages:

  • You can reconcile a bank account, G/L account, or vendor.
  • You can see the status of expenses.

Monthly reconciliations can be carried out by suggesting lines, importing statement transactions, or entering the information from a statement manually while comparing paper statements from the bank to transactions in Expense Management.

Using EM Bank Account Reconciliation

You can choose to match either automatically or manually.

Automatic matching

  1. Choose the Search icon, enter EM Bank Account Reconciliation, and then choose the related link.
  2. On the action bar, select New.
  3. In the General FastTab, select a bank account type.
  4. In the General FastTab, select a bank account number. After selecting a bank account number, any bank transaction entries connected to this account will be displayed automatically.
  5. There are two ways of getting bank statement lines:
    1. On the action bar, select Bank > Import Bank Statement.
      1. Select either Import a new Bank Statement File or Find existing statement transactions in the system, and select OK.
    2. On the action bar, select Process > Suggest Lines.
      1. In the Options FastTab, fill out the fields according to your preferences, and select OK.
  6. In the action bar, select Matching > Match Automatically.
  7. When you have matched both sides, copy the amount from Total Balance and insert it into Statement Ending Balance.
  8. In the action bar, select Process > Post to post the reconciliation.

If you want to view posted reconciliations, choose the Search icon, enter EM Bank Account Statements, and then choose the related link.

Manual matching

  1. Choose the Search icon, enter EM Bank Account Reconciliation, and then choose the related link.
  2. On the action bar, select New.
  3. In the General FastTab, select a bank account type.
  4. In the General FastTab, select a bank account number. After selecting a bank account number, any bank transaction entries connected to this account will be displayed automatically.
  5. There are two ways of getting bank statement lines:
    1. On the action bar, select Bank > Import Bank Statement.
      1. Select either Import a new Bank Statement File or Find existing statement transactions in the system, and select OK.
    2. Referring to your bank statement, enter the information into the Transaction Date, Type, Description, and Statement Amount fields.
  6. Select the bank statement line and the bank transaction entry you want to match, and then select Matching > Match Manually on the action bar. Repeat the process for each bank statement line.
  7. In the action bar, select Process > Post to post the reconciliation.

If you want to view posted reconciliations, choose the Search icon, enter EM Bank Account Statements, and then choose the related link.