There has got to be a way to select all the checks (select several boxes on Bank Deposit Entry window) for a single date/checkbook ID but have each check post separately on the GL for reconciliation purposes? I want to be able to check all of the boxes for a day/checkbook, but my boss asks me to check each one and post separately, I assume it’s for easier reconciliation?
Hi Brenda. I would expect you are exactly correct. When you are in the Bank Deposit entry, the checks have already hit the GL. you are creating the deposit to match what hit your bank. So alot of customers deposit them one at a time to match how their bank shows them on the statement. And that is really the end goal, show the amounts in the reconciliation the same way the bank statement shows them.
I hope that helps, if not let me know if you have more information from you team regarding this to help find the right process for you!
My question was more – is there a setting somewhere that can be changed so that I can select several check boxes on the bank deposit entry window, but have them post separately for bank reconciliation purposes?
In Microsoft Dynamics 365 Business Central, there isn’t a built-in feature that allows you to select multiple checks for a single date/checkbook ID and have each check post separately on the General Ledger (GL) for reconciliation purposes directly from the Bank Deposit Entry window. However, you can achieve this functionality through customization or by using existing functionalities in Business Central.
Here’s how you can achieve this:
- Customization: You can work with a developer or a Business Central partner to customize the Bank Deposit Entry window to add a feature that allows you to select multiple checks for a single date/checkbook ID and have each check post separately on the GL. This customization may involve creating a new process or modifying existing functionalities within Business Central.
- Manual Posting: Instead of selecting all checks and posting them together, you can manually select and post each check separately from the Bank Deposit Entry window. This approach allows you to have control over which checks are posted individually to the GL for reconciliation purposes.
- Use Journal Entries: Another approach is to use journal entries to post individual checks to the GL. You can create separate journal entries for each check and specify the necessary details such as date, checkbook ID, and GL accounts. This method provides more flexibility and control over the posting process but requires manual entry of data.
In comparison to Microsoft Dynamics GP (formerly Great Plains), Microsoft Dynamics 365 Business Central offers a more modern and customizable platform that can be tailored to specific business needs. While Dynamics GP also provides similar functionalities for financial management, Business Central’s cloud-based architecture and integrated features make it more adaptable and scalable for businesses of all sizes. Additionally, Business Central offers seamless integration with other Microsoft products such as Office 365, Power BI, and Dynamics 365 CRM, providing a more comprehensive solution for financial management and reconciliation.
Creating customizations or automating user actions within Microsoft Dynamics GP is super fast and easy. This could probably be achieved for you.
However, I agree with @Melissa_Dobkins, that reconciliation is much simpler if the transactions listed on the bank statement have a one to one relationship with the bank deposit transactions.
There is no need to consider a reimplementation to a completely different accounting system as also suggested on this thread.