Payment Journal With One Entry To Bank Account (BACS)

Hi,

I want to setup a payment journal that will allow me to pay vendors via BACS but rather than having a balancing account for every journal line I just want one line at the end of the batch for the bank account containing the total value being paid. This would give me one entry in the bank account to match against the one BACS entry on my bank statement during reconciliation.

When I flag a payment line as type ‘BACS’ so that I can create my export file, it seems to demand a balancing account of type bank account.

I’m not sure how to set this journal up in Navision, if it is possible? I’m using Navision 4.00 SP1 SQL.

Any help appreciated,

Jonathan

Hi Jonathan

You do not have to fill in the balancing account, leave it blank, you will need to manually add the single bank line. I would however not recommend it. You will need to have every vendor payment to have the same document number, as the journal needs to balance by it. Also when you come to reconcilling the bank you will have one entry, whilst the statement will show the separate outgoings to the separate vendors, making the reconciliation difficult.

Hi Steve,

Thanks for the reply. The whole idea is that the bank reconciliation is made easier - because the vendors are all being paid by BACS the statement will only show one outgoing entry for the total value paid in the batch, so we only want to show one outgoing entry in the Navision bank account.

I found as you say that I can leave the balancing account code blank and post the journal, however it does not let me create the BACS export file - it always errors with the message that the balancing account number is missing.

Any other ideas? I’m feeling that I need to do some bespoke here around the ‘Suggest Vendor Payments’ routine and the ‘BACS Export File’ creation. But I want to make absolutely sure that this can’t be done using standard routines first.

Thanks,

Jonathan

Hi Jonathan

You are correct, I will presume that this means the export file for BACS requires the bank account to be the balancing account to pull in the bank informaiton, theoretically there is nothing preventing you from breaking this link, except you will leave a big possible processing hole, and you may have to re-write the BACs posting routines [:D]. I am not a developer so I do not understand the code, but it seems each entry creates a BACs ledger entry which is linked to the individual payments of the suppliers, so you would need to re-write the way Navision posts and handles BACs payments, apologies if I mis-lead you, not an area I have anything really to do with I am afraid, so solve the first issue then move onto the next one I create!

Steve