How to set up bank account reconciliation on a bank card
By using the Reconciliation Setup at your bank card, you can set up the information required to make an account reconciliation.
Follow the guide to set up the reconciliation:
- Select the icon or press Ctrl-F3, enter Banks, and then select the related link.
- To get to Bank card, either select the action New, if you want to create a new bank, or select an existing bank and select the action Edit. If you have not already created your bank accounts, you can read more in the section Create a bank card.
- This opens the Bank Card.
- Select the action Recon. Setup.
- This opens Bank Recon. Setup.
- Below you will find descriptions of the individual fields and functions in the window, and what consequences this has for the use of Continia Payment Management.
- Select OK to complete the setup.
|Account Stmnt. Format||Specifies the file format in which the electronic bank statement is imported if it differs from the format defined in the bank setup. You only need to fill in the field if you want to use a file format other than the one defined in Payment Management.|
For most banks, you can also choose the file format: MT940. This format is very common and can be provided by most banks.
See more about banks and formats in the section Bank information.
If you choose Special format, your Microsoft Partner can help you design the integration completely individually and at the same time make use of Statement Intelligence i Payment Management.
Contact your Microsoft Partner if you need to load an account statement that is not supported by Payment Management.
|Custom Acc. Fmt. Codeunit||Field that indicates which Codeunit to execute if you select Special format, in the field Account Stmnt. Format above.|
|Recon. Method Debit||Specifies how the reconciliation should handle bank entries in Dynamics NAV or Business Central on-premises, which has the same date and amount. You have the following options:|
Manual ensures that it is the right bank account that is closed. That is, the reconciliation will not automatically designate a bank entry if there are two bank entries with the same date and amount. You must choose the right bank entry yourself.
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The reconciliation selects the first bank entry that meets the conditions (same date and amount). The reconciliation is thus automatically closed with one bank entry, even if there are several bank entries that meet the same conditions.
You should be aware that it can cause some unfortunate situations if you mix Manual reconciliation and indication of Tolerance days.
|Recon. Method Credit||Same as with Recon. Method Debit, described above, but for credit entries.|
|Skip Date/Amount Search||A check mark in this box will disable all bank entry searches while importing an account statement. This means that you have to choose which items to close.|
|Skip Search for Customer||A check mark in this field will disable the search for the customer while importing the account statement, unless there is a unique invoice number or Payment ID on the account statement. This means that you have to choose which items to close.|
When you import an account statement, Payment Management tries to find a match on all payments by searching through the customers who have overdue entries. If a unique invoice number or Payment ID cannot be found, Payment Management will try to find a customer name or number in the posting text on the account statement, and for each of these possible entries, a search is made across all customers and overdue customer ledger entries.
The search can, if you e.g. have many customers and / or customer entries, be time consuming and therefore make the importing of account statements slow, so you have the option to turn off the feature.
|Tolerance Days – Before/After||Normally, the automatic account reconciliation will find bank entries while importing the electronic account statement, based on the same date and amount. By entering a number of days in this field, you can make the system search for entries that are before and after the date stated on the bank statement from the bank, respectively.|
Payment Management sends important information in the payment files and on invoices with FIK / GIK payment slips. Only when the banks and your customers use this information will it have value for you and your account reconciliations.
Before an optimal automatic reconciliation can be achieved, Payment Management must be used for a while. The account statement lines refer to payments and payment IDs created by Payment Management.
It is important that Sender reference definition code has been entered on the bank account, and that the Payment ID is structured in the same way as in the invoices and bank account statements. Read more about setting up your bank accounts in section Setting up account reconciliation on bank accounts.