Dynamics 365 Business Central: Automatically Reconcile Payments

Dynamics 365 Business Central: Automatically Reconcile Payments

We're going to keep going on the bank reconciliations and payment reconciliations.I was actually clicking around the system and I went into some payment reconciliation form, I remember going in there a long time ago, but it's definitely been improved and now when you hook up the bank account or the credit card statement to the payment reconciliation form, it's really easy to reconcile your transactions and the system is sort of intelligent. It tries to find matches on the amounts on the customer and even on the text. For example, if the text contains: American Airlines, that should be coded to travel so look, it's short but it's really sweet.

Unprocessed payments
As we continue on bank reconciliations in business central, I was clicking around and I came upon this payments thing, here you can see we have something called unprocessed payments if I click on that, we get into this screen here which I find to be really nice, I really like this screen and you're going to see in a minute how that works. If I'm importing bank transactions, is similar from American Express, I'm just going to take one day the fourth, so we don't have too many transactions, I hit OK and that it's going to pull in all the transactions for the 4th from American Express. Here I can get all kinds of expenses which you know just have these descriptions and for example Uber should be categorized to an account. What I want to do is have all of the transactions for Uber, or that have Uber in it, to go to the same account.

All I have to do is come in here and hit map text to account. It gives me the entire text but I'm only going to take the first part, let me just delete this one because that's my test, first part like that. So, anything that starts with Uber, I want that to go to particular GL account called, let's just put it to office expense like so, and now when I hit close it processes all of the transactions that have Uber in the beginning and puts them to office supply expense and so I can just keep doing that with all kinds of transactions in here so that most of the things when I'm importing get automatically mapped and then when I'm done with that I can just go ahead and post and I can post these payments so they become payments on the bank account and they're also reconciled, so I don't have to do a whole bank reconciliation for this because it's already reconciled with the bank account.

This screen has taken care of all of that in one and I can of course map it to a customer, I can map it to a particular document for the customer, it tells me here whether the matching is high or not high, so it's a really good screen to do the imports of your bank account transactions and the credit card transactions and reconcile in one so it's even better than the one that I did before in previous video so I highly recommend using this screen.