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ADVANCED BANK RECONCILIATION

In Microsoft Dynamics AX 2012 R2, you can import electronic bank statements and reconcile the imported bank statements with bank documents. The imported bank statement can then be automatically reconciled from within bank transactions.

Bank Statements and Companies

Microsoft Dynamics AX Application Integration Framework (AIF) is not company-specific and works across companies. Because of this, if the inbound port that is set up for the bank statement import is not restricted to a specific company (in the Restrict to company field on the Security FastTab), the bank statement is imported into the default company from your user profile.

For example, you are logged on to Company B, but your user profile’s default company is Company A. In this case, if you are using an inbound port that is not restricted to a specific company, the bank statement is imported into Company A. However, if the inbound port is restricted to Company B, the bank statement is imported into that company, regardless of the default company assigned to your user profile.

Therefore, you might want to set up a separate inbound port for each company that you must import bank statements into.

Preparing the list of payments in Microsoft Dynamics AX

You need payments to be posted in Microsoft Dynamics AX which will later be reconciled with the statement. The number and the kind of payments that must be created depend on the scenarios you would like to test. This paper lists the transactions required for some of the key variants for scenarios 1, 4, and 5. The key attribute that gives rise to variants in this context is the method of payment. The following table lists the variants based on method of payment.

Bank transaction types affect bank reconciliation in the following ways:

  • The transactions in the bank statement are summarized by means of "transaction codes mapping".
  • The payment transactions (also known as the bank documents) in Microsoft Dynamics AX are summarized by mapping them to payment methods.

Important Steps for Bank Reconciliation

  • Set up a bank statement import.
  • Set up a number sequence to use for advanced bank reconciliation, and define the bank reconciliation matching rules.
  • Reconcile bank statements with Finance and Operations bank transactions.

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