Bank Reconciliation

I have a client who has been using Navision for more than three years. They would like to begin using the Bank Reconciliation. What is the best way to start using the Bank Rec at this time? There will obviously be several hundred cheques that exist in the system that would have cleared by now?

First the client needs to get a manual reconciliation prepared. Next you will begin your first reconciliation for the bank account. You need to suggest the lines for all activity from the beginning of their data through the month end that they are closing. Once the information is in there they need to delete the lines on the navision bank recon that are still outstanding from the manual recon. Once they have accounted for all uncleared items they will need to do a general journal entry to debit or credit the Bank account and the offset would be the G/L Account that is linked to the bank account. The entry will be for the outstanding difference between the bank account and the G/L Account. Once this is processed and the bank rec posted the Balance on the Bank Account Card should match the G/L Account balance for the Bank Account. Once in line you should make sure that they uncheck the direct posting box on the account card. Bill McCorkle

While I agree with your comment that direct posting should be removed, the moment I remove it and later do a bank reconciliation, the system gives an error stating that direct posting is not open. Only when i go and untick the direct posting bank reconciliation gets done.

Also, it is possible that some chqs received in bank, but not entered in books is there. The system forces (through difference) to create a journal to post that. Why can’t it print out in the Recon. report (provision exists but it is always 0) Chqs in bank, but not in books – xyz amt.