Reconcile Bank in Dynamics 365 Business Central

Dynamics 365 Business Central provides an efficient, automated process for reconciling bank accounts. By integrating bank account links, importing bank statements, matching transactions, and completing reconciliations in one system, Business Central helps organizations reduce manual effort and stay on top of their finances. Here’s a step-by-step breakdown of how Business Central makes bank reconciliation easier.

1. Linking Bank Accounts for Real-Time Integration

The first step in reconciling bank accounts is linking the account within Business Central. This is done by navigating to the bank accounts section and setting up a bank statement service. Using the search feature, you can find your bank, input your login credentials, and connect the account. Once linked, Business Central will seamlessly integrate with your bank account, allowing for future automated statement imports.

2. Enabling and Importing Bank Statements Automatically

Once the bank account is linked, you can set up automatic statement imports. By enabling the bank feed service, Business Central will regularly pull in new transactions, saving time and ensuring the payment reconciliation journal is kept up-to-date. You can set up the bank feed under the bank statement service, and upon activation, the latest balances and transactions will automatically populate in Business Central, streamlining the reconciliation process.

3. Matching Transactions and Performing Reconciliation

With transactions imported, the next step is to match bank entries with corresponding entries in Business Central. Within the payment reconciliation journal, Business Central’s confidence level system shows high, medium, and low matches based on transaction date, amount, and description, helping to identify matches quickly. Project managers can review these matches and approve or adjust as needed. Once all transactions are matched, Business Central provides a single location to process payments and finalize the reconciliation.

Key Benefits of Automated Bank Reconciliation in Business Central

The integration and automation features of Business Central help organizations streamline bank reconciliation by reducing manual data entry and enhancing accuracy. By linking bank accounts, automating bank feed imports, and matching transactions directly within the system, Business Central allows users to reconcile accounts frequently, keeping financial records up-to-date and maintaining a clear view of cash flow.