Working with Payment Reconciliation Journals

You must regularly reconcile your bank, receivables and payables accounts by applying payments recorded in the bank to their related open (unpaid) invoices and credit memos or other open entries in Garage Hive. You can do this on the Payment Reconciliation Journal page, for example, by importing a bank statement file to register the payments quickly.

The following are the supported bank statement formats:

Bank Statements Bank Statements (Cont’d)
- AIB Business - HSBC
- AIB Personal - ICON
- American Express - Lloyds
- Bank of Ireland - NatWest Bankline
- Barclaycard - NatWest Online Banking
- Barclays - PLEO
- HBOS - Santander
- starling - DEXT
- Generic - Metro
- Monzo - NetBank

You can also reconcile bank accounts without simultaneously applying payments on the Bank Acc. Reconciliation page.
The following is a list of tasks involved in working with payment reconciliation journals, alongside links to topics that describe them:

  1. Reconcile payments using the automatic application.
  2. Review or apply payments after automatic application.
  3. Reconcile payments that cannot be applied automatically.
  4. Map text on recurring payments to accounts for automatic reconciliation.

See Also

Video: How to perform a Payment Reconciliation Journal in Microsoft Dynamics Business Central