Dynamics 365 Finance
Category
Mar 19, 2024
Published date
Text
Article Type
AI Summary
- The blog article discusses the pain points of bank reconciliation during Dynamics 365 Finance and Operations (D365FO) implementation projects for medium and large organizations.
- Microsoft introduced a new feature called Modern bank reconciliation in the 10.0.39 update to streamline the bank reconciliation task within D365FO.
- The Modern bank reconciliation feature enhances usability and performance, and provides new capabilities such as clearing reversal company transactions, generating vouchers and payment journals, and settling open customer invoices.
- The feature needs to be enabled from the feature management workspace and requires some system setup, including bank account setup and reconciliation matching rules setup.
- The bank statement import and reconciliation process is explained step-by-step, including the validation and confirmation of imported bank statements, creation of reconciliation worksheets, running matching rules, and settling open customer invoices.
- The bank statement status after the matching process is shown, indicating the successful matching of transactions.
- The author considers Modern bank reconciliation a game-changer within D365FO ERP, highlighting its quick setup and positive experience.
- The author suggests extending the reconciliation matching rules with more criteria and improving the "Reconciliation matching rules" data entity for ease of bulk matching rules creation/update.
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