For each transaction made in Microsoft Dynamics 365 Business Central that uses a bank account, the system will post an entry in the bank account ledger. The bank account posting group that is assigned to each bank account is used to post the related general ledger entries with the transaction.

Additionally, if the user makes a manual or computer check payment, the system posts an entry to the check ledger to record the check transaction and the current status of the check. Each bank account has its own card that contains different kinds of information. On the bank account card, you enter information that is specific to the individual bank account, and you can change this information, if this is necessary.

Create Bank Account in the Business Central:

Click on Cash Management option shows on ribbon, then click on Bank Accounts, system will open the bank account list.

Click on new button and create new bank account master.

General Tab:

On General Tab, Enter No., Bank Name, Bank Sort Code and Bank Account No.

Communication Tab:

On Communication tab, we can enter bank’s Contact and Address details.

Posting Tab:

On Posting Tab, we need to fill below details.

Last Check No. –> If you are using checks, specify the last check number that is used. The program updates this number every time that a new check is printed.
Transit No. –> An alphanumeric code used to represent the bank where the account is held.
Last Statement No –> The statement number of the last Bank Account Statement reconciled in the program.
Balance Last Statement –> The statement ending balance of the last Bank Account Statement reconciled in the programBank Acc. Posting Group –> The posting group assigned to this bank account. Microsoft Dynamics 365 Business Central uses this to post the related G/L entries for each transaction by using the bank account.

State Code –> Select State Code and GST Details.

Transfer Tab:

On Transfer tab, we can enter Transit No, SWIFT Code and IBAN Code.

In the Bank Statement Import Format field we can define Statement file format of Bank Account Reconciliation, by using this setup we can import the bank statement in the Bank Account Reconciliation.

Bank Account Ribbon

On Bank Account Ribbon, We get the various functionalities and reports related to Bank Accounts.

Report Tab:

On Report tab, We get Detail Trial Balance and Cheque details report, we also get the various reports in the Reports tab show on last option.

Bank Account Tab:

On Bank Account Tab, we get details like, Posted Bank Statements, Bank ledger entries, cheque ledger entries and Statistics.

If you’re considering Microsoft Dynamics 365 Business Central, or just want more information, I’m happy to answer all your questions.