Click Bank> Common Forms> Bank accounts , and select the bank account for which you want to reconcile the bank account statement.

Note

You cannot reconcile a bank account statement with a bank account if any of the checks or deposit slip payments that are listed on the statement currently have a status of Pending cancellation. After a reviewer posts or rejects a check reversal or deposit slip payment cancellation, the status is no longer Pending cancellation, and you can reconcile the bank account. For more information, see Cancel a deposit slip payment.

Click Functions> Account reconciliation, and enter values in three fields.

Two fields are mandatory: Bank account statement dateand Bank statement. In the Ending balancefield (optional), enter the balance of the bank account as it appears on the bank account statement. For more information, see Bank account statement (form).

Click Transactions. In the upper pane, you can view all the bank account transactions that have not yet been reconciled with a bank account statement.

Note
To maintain an overview of transactions as you proceed, limit or expand your view of the account transactions by changing the value in the Show transactionsdrop-down list.

For each transaction that is included in the bank account statement – if the amount in Microsoft Dynamics AX corresponds to the amount on the bank account statement – select the Clearedcheck box. As you do this, you can, if necessary, enter or revise the value in the Bank transaction typefield. This is important for your bank transaction statistics and for some reports.

Note

Do not select the Clearedcheck box on transactions that are not on the bank account statement. These transactions continue to appear in this form until they are reconciled with a future bank account statement. The Clearedcheck box is not available if the transaction has a status of Pending cancellation. Transactions might have this status if your system is set up to require that reversals or cancellations be sent to review before they are posted. After a reviewer posts or rejects the reversal or cancellation, the status is no longer Pending cancellation, and you can reconcile the bank account. For more information, see Set up a review process for reversals and cancellations.

The bank account records may contain an interval of checks that are all present on the bank account statement. To select the Clearedcheck box for all the check lines, click Mark check intervaland indicate the interval.

A bank account transaction amount might not correspond to the amount on the bank account statement transaction. To make an appropriate correction in the Correction amountfield, enter an appropriate offset ledger account for the correction amount in the Ledger accountlookup field, and enter an explanatory text for the correction (or transaction) in the Transaction texttext box.

Note
If the accounting period of the transaction to be corrected is closed, the Correction amountfield cannot be used. Instead, create a new line with a transaction date in an open accounting period for the correction. In this case, you must add the dimensions that were attached to the original transaction, as well as the offset ledger account and the transaction text.

Create transactions for entries (such as fees and interest) that are on the bank account statement, but that are not recorded in Microsoft Dynamics AX. Enter the offset account, the transaction text, and appropriate dimensions.

As the transactions on the bank account statement are marked as included, the amount in the Unreconciledfield (which is recalculated continuously as you make changes) approaches zero. When it reaches zero, click Transactionsto post the reconciliation and the transactions and corrections that you have created.

After the reconciliation is posted, the transactions that have been included cannot be revised or corrected any further, and they do not appear in any future account reconciliation.

To view bank transactions that have not yet been reconciled, use the Unreconciled bank transactions report; to view the bank statement for a bank account, use the Bank account statement report.