#BANK ACCOUNT GENERAL LEDGER CODE#

That gives sales people, accountants, and other employees access to the most relevant and up-to-date information so they avoid making unnecessary calls to the customer regarding overdue invoices or delays in shipments.Īnother task is to import vendor currency payments with the realized currency rates to make sure that the actual status of the vendors is up-to-date. This helps ensure a customer's actual status is reflected in Business Central. You can see that creating a bank account makes it available in all the places shown above, as well as being mirrored in the relevant G/L account and on the Company Information page.Ī bank account is usually monitored daily to make sure any new payments from customers are registered as quickly as possible. The following illustration shows the most important relations: If needed, you can choose a different account when you're working on a document.Ī bank account is an integral part of Business Central and plays a role in many other capabilities. To make the account the default for sales and service documents, on the Bank Account Card page, turn on the Use as Default for Currency toggle. If you do, the account is assigned to sales and service documents that use the currency. You can save time on data entry by making a bank account the default account to use for the currency specified for the account. If the bank account is used in a journal, the journal line will automatically inherit the blank currency code.Īll transactions made to and checks issued from this account must be in the same currency as specified on the account. Any checks issued from this account must be issued in LCY. If a transaction is made to the account in another currency, the amounts are posted to the account in LCY based on the relevant currency exchange rate.

#BANK ACCOUNT GENERAL LEDGER CODE#

Using a bank account in a payment transaction will automatically create an entry in both the bank account and the connected general ledger (G/L) account.īank accounts work differently depending on whether a currency code is specified:Īll transactions in the bank account are in the local currency (LCY) for the current company. Each bank account is linked to an account in the chart of accounts through the assigned bank account posting group. The bank accounts can also be included in transactions in the general journals. The bank accounts include extra functionality for payment reconciliation, bank reconciliation, and the import and export of bank files. After you have set up bank accounts, you can also use the check printing option. Accounts can be denominated in your local currency or a foreign currency. You use bank accounts in Business Central to keep track of your banking transactions.

Bank account general ledger