Bank Reconciliation is a key process that, when done without the right tools, might give you a headache. Fortunately, Business Central makes this process easier whenever it is done manually, automatically, or both.

In this blog, I am going to briefly explain the different options Microsoft Dynamics 365 Business Central has to offer to reconcile your bank accounts efficiently, without setbacks and which one better fits your company

1. Integration with your Bank Accounts

There are two ways of integrating your back accounts to Business Central:

1. Automate the out of the box integration with Envestnet Yodlee, which allows you to connect your bank accounts directly to Business Central, thus improving efficiency and reducing errors.
2. Or, for a more manual approach, Business Central offers you two other options:
   1. Bank Reconciliation Worksheet: more suited for companies that handle large amounts of checks and deposits since it gives you more control over these two variables
   1. Bank Account Reconciliation: gives you a simpler approach that might come handy when you don’t have large volumes of transactions.

The right one for your company must be decided before going live on General Ledger to avoid setbacks.

Learn more functionalities Business Central has to offer by downloading the eBook

• Bank Reconciliation

On the  General Ledger Setup, to tell the system that you don’t intend to do your reconciliation with auto-match functionalities, you unmark it, and the system will use Bank Reconciliation Worksheet. When you are working with the previous option, Business Central suggests the lines to make the process easier but, in essence, is purely manual.

On the other hand, Bank Account Reconciliation lists each line of the bank subledger and suggests lines to match.

You only have to enter the statement ending date and ending balance. The left column displays the amounts from your bank statement, can be added/deleted manually, and populated with the Suggest Lines functionality on the main tab. The right column shows the values posted in Business Central.

As you could see, Microsoft Dynamics 365 Business Central core functionality: Bank Reconciliation is designed out of the box to adapt to your business-specific needs to ease a load of a repetitive, manual task helping you to focus that energy into other valuable tasks.

Business Central financial management module has many more core functionalities that can help you facilitate your daily operations, such as fixed asset management, monthly/year-end closings, and more.

Thank you for reading this blog! I hope it was useful and helped you understand better the strong capabilities of Microsoft Dynamics 365 Business Central