Handling payment reconciliation journal postings
To optimize payment reconciliation, you can configure specific settings that control how journal entries are posted. These settings help simplify reconciliation, ensure accuracy, and provide flexibility in posting options.
This article describes the key posting settings.
Post Sum per Posting Date
Location: Banking Import Setup, Payment Reconciliation FastTab.
- When enabled, this option consolidates bank statement entries into a single bank account entry for the entire statement.
- If the statement includes multiple posting dates, the system creates a sum posting for each date to maintain consistency.
- The system also posts a total amount for the entire statement.
Use Case: Simplifies reconciliation by reducing the number of entries.
Post Payments Options
Location: Payment Reconciliation Journal page, on the action bar, click Home >
Choose from the following options to control how payments are posted:
| Option | Description |
|---|---|
| Post Payments Only | Posts payments while leaving all bank account entries open. |
| Post Payments and Reconcile Bank Account | Posts payments and automatically closes all bank account entries. |
| Preview Postings | Displays a preview of the postings, including related entries and the number of entries. |
Use Case: Provides flexibility in managing open entries and reconciliation status.
Journal Template and Batch Name Requirement
Location: General Ledger Setup
To enforce the use of a template and batch name for posting, the user must enable the following setting using the standard design page feature:
- Enable: Journal Templ. Name Mandatory
This setting ensures that users must specify both a Journal Template Name and a Batch Name when posting.
Required fields:
- Bank Acc. Recon. Template Name
- Bank Acc. Recon. Batch Name
Use Case: Ensures consistency and traceability in posting processes.
Force Document Balance
Location: General Journal Templates
- Enabled by default, this setting ensures that the document is balanced before posting.
- If the document is not balanced, an error occurs unless you disable Force Doc. Balance.
Use Case: Prevents posting errors by enforcing balanced entries.
Best Practices
- Use Post Sum per Posting Date to simplify reconciliation for large statements.
- Select Post Payments and Reconcile Bank Account to automatically close entries after posting.
- Always verify the Preview Postings before finalizing to ensure accuracy.
- Enable Force Doc. Balance to avoid posting unbalanced documents.