Business Central: Payment Reconciliation Journal

The Payment Reconciliation Journal is a journal where you can apply payments from customers and/or to vendors to their related open entries. When you post this journal, the transactions will be recorded in the related bank account ledger entries.

One of the advantages of using the Payment Rec. Journal is that, it is possible to import an electronic bank file that reflects the transactions on your online bank account.

It saves time and automates the payment reconciliation process.

To find this journal, click on search button and type Payment Reconciliation Journals

Click on Payment Reconciliation Journals

Click on Process / Import from Bank

Click on the bank account

Click on Choose and select the bank file

The system will show the payment lines which reflects the content of the bank file.

The import type shows Bank Statement, Credit Advice* or both (depending of the bank file).

*Credit Advice file shows payments with detailed specification.

One of the facilities in the Payment Rec. Journal when using AMC BANKING 365 Business is the possibility to post payments as lump sum.

To the able to post payment lines as lump sum, the payment lines must have the same Transaction ID.

The transaction ID comes from the bank file, however if the bank does not provide this unique transaction ID, you can assign a transaction ID manually (Manual Application / Set to next Transaction ID)

To post as lump sum, click on Process / Post Payments and Reconcile Bank Account

To see the result, go to the bank account and click on Bank Account / Ledger Entries

Select a journal template, a journal batch and the options of how you want to post the journal:

To see the result, go to the bank account and click on Bank Account / Ledger Entries

All 5 payment lines (7810,43 + 6654,88 + 5726,70 + 7938.28 + 46.50) were posted as a lump sum 28.176,79