- [Instructor] Dynamics GP comes with
a full-featured bank reconciliation module,
and I encourage you to use this
rather than trying to reconcile your bank statements
outside the system using Excel spreadsheets.
Let's take a look at this module.
Under the Financial series, we have
Bank Deposits, Bank Transactions, Miscellaneous Checks,
Bank Transfers, and Reconcile Bank Statement.
Let's look at the Reconcile Bank Statement window,
this is where there is a culmination
of all of the work you've done before, and we are
going to make the bank statement agree to what's in GP.
So, you'd select your bank account
that's set up as bank checkbook,
if we look at the checkbook, we see
there's the account number that equates to this checkbook.
And, we put in the balance per bank,
we then set the date of the bank statement,
we have an additional cutoff date
if we needed to exclude certain transactions
from the future, that is not required,
we hit Transactions button, and now we see
all of the transactions that are in GP
affecting that checkbook, but have not yet
been marked as clearing the bank.
Now we could click these one by one,
and we also have a very nifty feature here,
where if we're clearing a long range of items
we can use the Select Range feature,
I check one of the items, and click Begin Range,
and you see it marked it there,
then I go to the end of the range,
and select End Range, and you see
all of these are now almost marked.
The last step is to click Mark,
and now they've all been checked,
and you can do that if you're trying
to check a very long series of items.
I want to mention that there's also
an e-banking feature that allows you to
get a file from your financial institution
and import that, so that it would automatically
check all of the items that match exactly,
so you wouldn't have to use this window
and be clicking a lot of items.
After you've made all of your selections,
you'll have to make this difference
go to absolutely zero before you can finalize the bank rec.
There is another adjustment button here,
where you can record other transactions,
such as Interest Income, Other Income,
Other Expense, and Service Charges.
However, I recommend that those transactions
had already been keyed in to the
bank transaction entry window,
because you can use this to do Decrease Adjustments
and record those bank fees here ahead of time,
so by the time you get to doing the actual reconcile,
all your items will already be in the system.