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How I use the new GL Account Review functionality in Dynamics 365 Business Central

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#balancesheet

#credits

#debits

#paymentmethod

#reconciling

Dynamics 365 Business Central

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Dec 3, 2023

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AI Summary

  • The article discusses how to use the Review Entries feature in Microsoft Dynamics 365 Business Central to reconcile business credit card transactions.
  • The Review Entries feature allows users to match debits and credits to track the remaining account balance.
  • The author provides a setup process for using the feature, including creating a payment method and setting a balance G/L account.
  • Two scenarios are presented: invoices that have already been paid via a credit card and invoices that will be paid at a later date.
  • The article explains how to enter vendor invoices in both scenarios and shows the G/L entries for each.
  • To reconcile the liability account for the credit card, the author demonstrates how to use the AMEX monthly statement in Business Central.
  • The article provides step-by-step instructions for updating the balance account type and using the balance account number in the payment journal.
  • It is noted that a bank payment type is not needed for credit card payments recorded in this example.

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