In the new version of Dynamics 365 Finance 10.0.37 available this November 2023 there is an interesting new feature, in preview, called "Generate customer and vendor payments from bank statement and reconciliation". it sounds very helpful to generate, directly from the bank reconciliation form the customer or vendor transactions included in the bank statement of the bank that have not been posted in the system yet.
Once you activate the feature, the first step is to setup, for each of the bank accounts, the payment journals where you want the postings to be done. Complete the setup in the path Cash and bank management > Bank accounts > Bank accounts, and select the journals in the tab Reconciliation:
Once the setup is done, go to Cash and bank management > bank statement reconciliation > Bank reconciliation. Create a new bank statement for one of your bank accounts and click Worksheet. In this screen is where you will see the new functionality, the option Generate payment journal:
This option opens a form where you should choose:
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Payment type: select between "Customer payment" or "Vendor payment".
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Select the customer or vendor account.
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Select the related "Method of payment"
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Select one of the options for the date between "Booking date" or "Specific date".
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If you are using it, select the "Bank transaction type" related to the bank account.
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It's possible to select the "Sales tax group" and "Item sales tax group" if required.
Once the info is completed, click OK.
This will create and post the payment journal directly, so, for that, it's important to use a payment method were the status doesn't require to Sent or Approve the payment once is created because if not the journal will not be created.
The selected transaction will be automatically moved to the Matched transactions section of the worksheet.
Helpful and easy to use!! I like it and I hope you find this functionality interesting. If you want to send us your feedback please don't hesitate to contact us, we are more than happy to share our tips and knowledge with our readers.
