When performing a bank reconciliation in Business Central I tend to only ever reference a few of the fields on the reconciliation page however I’m often asked what others are used for and how they are calculated.
As a consequence I’ve created the cheat sheet below which highlights what most of the fields are and therefore how they can be used.
I’ve noticed that when you reverse a bank account ledger entry its removed from the “Bank Account Ledger Entries” (right hand pane) in the Bank Account Reconciliation window however the entries remain “Open”.
To close the bank account ledger entries I’ve found you have to run the “Suggest Lines” function to populate the “Bank Statement Lines” (left hand pane) with the entries and reconcile them.
In this article I’ll walk through this whole process
Below I’ve posted a payment journal entry for £50.00 which is correctly appearing on the “Bank Account Ledger Entries” side for reconciliation.
However I realised I’ve posted this incorrectly and therefore I navigate to G/L Registers, find the register, and select to reverse it:
Once this has all been reversed I return to the bank account reconciliation and the entry has disappeared, which is correct, as there won’t be a reconciling entry on the imported bank statement:
However when I check the “Bank Account Ledger Entries” both entries are showing as “Open”
So the question is, as these items will never be reconciled to a genuine imported bank statement entry, how do we close the bank account ledger entries?
In order to close the bank account ledger entries I found I had to pull them into the “Bank Statement Lines” pane using the “Suggest Lines” function.
**Please note you would normally use the “Suggest Lines” function for your reconciliation if you don’t import a bank statement downloaded from your bank
To do this, from within the “Bank Account Reconciliation” page, I selected “Suggest Lines” as per below:
I then selected my date range and clicked OK which pulls all open bank account ledger entries into the “Bank Statement Lines” pane.
Now, along with other open bank account ledger entries which were also pulled through, I can see the incorrect payment and the corresponding reversal in the “Bank Statement Lines” pane.
So, in order to close these entries I need to reconcile them. To do this I first delete all other entries from the “Bank Statement Lines” pane. To do this I multi select them and click “Bank Statement Lines > Delete Line”
I’m now left with the two entries I wish to close in the “Bank Statement Lines” pane (and no other reconciled items):
Next I populate the “Bank Ending Balance” which is identical to the “Bank Last Statement” as nothing has changed with the balance, and post the reconciliation
Now, when I check the “Bank Account Ledger Entries” I can see both entries have been closed.
This does seem like a fairly long winded way of closing the bank account ledger entries that have been reversed. If anyone knows of a quicker way please let me know 🙂