Creating Bank Deposits in Business Central

As of April 1, 2022, there was a Microsoft Dynamics 365 Business Central update that took the existing ability to enter bank deposits and made a page exclusively for bank deposits.

Why is this useful?  One can now make bank reconciliation easier to do by posting a lump sum and all transactions that make up this single bank deposit. This page also allows you to use deposits instead of general journal entries in the chance that you find a need to register deposits that cover more than one business transaction.

On the Bank Deposit page, you can specify the bank account you are depositing into, the document date and posting date, the total deposit amount, and all the deposit lines that make up the total.  To be able to post, the deposit lines must equal the total deposit amount.  You can add dimensions to the bank deposit transactions allowing for more precise labeling and record keeping.

Create Bank Deposits in Business Central 1

You can also do a test report (by going to Post, Test Report, Show Applications) to review all of the information you put in the bank deposit screen, and this test report will let you know if there are any errors and that they need to be corrected.

Create Bank Deposits in Business Central 2

When this is posted, all the related ledgers are updated.  This includes the bank ledger, general ledger, or even the customer ledger depending on the transactions in the deposit lines. One can see the results after the bank deposit is posted through the bank reconciliation screen or the Posted Bank Deposits page in Business Central.

After posting, you can also click on Print/Send and print a report showing the Bank Deposit and all the information about the bank deposit that was included.

Create Bank Deposits in Business Central 3

In the happenstance that a mistake was made after posting, there is also now an option to undo the posting and fix your mistake before resubmitting the bank deposit.

Create Bank Deposits in Business Central 4

Have any questions about creating bank deposits in Business Central? Reach out to our skilled Dynamics team at Opal Business Solutions, a Microsoft Gold Partner, for assistance. We’re always happy to help!

Source: Create bank deposits – Dynamics 365 Release Plan | Microsoft Docs


    I'm interested in...

    Related News