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Payment Journal - Bank Payment Type

  • 1.  Payment Journal - Bank Payment Type

    SILVER CONTRIBUTOR
    Posted 29 days ago
    Client is on latest Business Central.   When preparing a payment journal for manual check client did not fill in bank payment type field - left blank.  They posted the payment journal.  Of course,  this caused issues with bank reconciliation process later and I was able to reverse the payment journals and had client fill in bank payment type field with manual check.   Client asked a great question...why is this not a mandatory field.  We are considering making an extension to ensure this is a mandatory field.

    Anyone else have a better solution?

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    David Cameron
    Microsoft Financial Consultant
    Templer Group
    ANCASTER ON
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  • 2.  RE: Payment Journal - Bank Payment Type

    Posted 28 days ago
    Make sure that the Payment Journal Batch is setup for the Bal. Account Type = Bank Account and you can even assign the Bal. Account No. to be the exact bank that is used.  Create different batch for different setups and banks.
    Therefore, when the records are created in the journal, this auto inputs for each line.  Albeit it can be changed, but it avoids the human error of forgetting it all together

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    Jamie Constantine
    Columbus
    Scranton
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  • 3.  RE: Payment Journal - Bank Payment Type

    SILVER CONTRIBUTOR
    Posted 28 days ago
    Hi Jamie,   the payment journal batches are setup correctly with the Balance Account Type & Balance Account No however when the payment journal is open (edited)   the bank payment type field does not default with a value.   Client created a Manual Cheque for a payment made outside the Business Central system, did not fill in the Bank Payment Type field with a value, posted the payment journal, and the posted ledger entry was not retrieved into the Bank Reconciliation function.   I am having an extension created to make the Bank Payment Type field mandatory entry

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    David Cameron
    Microsoft Financial Consultant
    Templer Group
    ANCASTER ON
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  • 4.  RE: Payment Journal - Bank Payment Type

    SILVER CONTRIBUTOR
    Posted 22 days ago
    We are on NAV 2018 and do not use the Bank Reconciliation function.  In our situation, there was an advantage to NOT having the Bank Payment Type field mandatory.  We use the Positive Pay feature to export our check information to PNC Bank, but didn't want to send them Payment Journal entries with which we record ACH payments.  Leaving the field blank allowed us to easily exclude the ACH payments from the check data export.

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    Alan Hyde
    Controller
    National Azon
    Troy MI
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  • 5.  RE: Payment Journal - Bank Payment Type

    TOP CONTRIBUTOR
    Posted 22 days ago
    I like having a default, good idea.

    However, I just wanted to point out that you didn't have to review things to do your bank reconciliation. You could just clear those payments under the deposits section,

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    Kim Dallefeld
    Kim@Dallefeld.com
    Dallefeld Consulting, LLC
    Member of Dynamics Consulting Group
    Ft. Worth, TX
    2019 NAVUG Board of Advisors
    Past NAVUG Board Chairman
    NAVUG Programming Committee
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