New Functionality In Microsoft Dynamics 365 Business Central 2022 Wave 2: Better Bank Reconciliation for Checks and Improved Reporting

Microsoft Dynamics 365 Business CentralThis post is part of the New Functionality In Microsoft Dynamics 365 Business Central 2022 Wave 2 series in which I am taking a look at the new functionality introduced in Microsoft Dynamics 365 Business Central 2022 Wave 2.

The first of the new functionality in the application section is better bank reconciliation for checks and improved reporting.

Bank reconciliation is a key task in every company and performing the task efficiently is important to every finance department. Better matching rules improve the speed with which bank reconciliation is done.

Enabled for: users, automatically
General Availability: October 2022

In bank reconciliation, there is now a match for check entries from the bank based on information from the check ledger. This gives a much higher degree of match confidence than only using information from the bank ledger. The matching rules are also made more clear, and more rules are added to increase matching success rates.

The test report has been changed so the G/L Account Balance field now shows the balance on the real G/L account at the statement ending balance date. This lets you easily detect direct postings to the G/L account. Direct posting to G/L accounts often leads to errors in bank reconciliation.

The G/L Acc. Balance (LCY) field will be calculated if you’re using a bank denominated in currency. In some cases, this can lead to differences in actual bank balances due to rounding, but it still allows you to detect direct postings to the G/L account.

The Sum of Differences field is the same as the total in the Difference column for the reconciled entries. It’s convenient to also have the sum in the header.

The Bank Statement report now includes payments that were outstanding when the bank reconciliation was posted.

note Note

The report compares closing dates for bank ledger entries to the statement date to determine which entries were open when the bank reconciliation was posted. If you do bank reconciliation in reverse chronological order and you omit entries from a prior period (for example, and you also manipulate statement ending balances), entries might show as outstanding in the test report but not in the statement report. This is by design. If bank reconciliations are done consistently, both reports will show the correct entries.

The new features are available on the Bank Reconciliation page, where the test report is found, and on Bank Acc. Statement reports.

When you add a G/L account to a bank posting group on the Bank Account card, you will get a warning if the G/L account allows direct posting. This lets you decide whether to leave direct posting turned on, such as if you need to manage an opening balance.

Posting fasttab of the Bank Account card
Warning message

New Functionality In Microsoft Dynamics 365 Business Central 2022 Wave 2

New Functionality In Microsoft Dynamics 365 Business Central 2022 Wave 2
Better Bank Reconciliation for Checks and Improved Reporting
Extended Text Functionality for VAT Clauses
Financial Reporting Replaces Account Schedules
Find Posted and Non-Posted Document Lines in Search
Flexible Sorting in the Planning Worksheet Page
Make Entry of Variant Codes Required
Post Item Charges for Each Step of the Process
Service Management – minor improvements
Simpler Shopify Connection
Track Items That Are Used in Projects, Including Picks
New VAT Date Field on documents and Entries
Set Up Data Exchange More Easily
Use Multiple Remit-to Addresses for Vendors
Reverse Payment Reconciliation Journal Entries
Check the GL Journal Balance by Correction – Czechia
Configurable and Redesigned Intrastat Solution
Specify a Default Bank Account by Currency – Czechia
Word Layout Email Template for CZ Documents
IRS 1096 Form (United States)
Service Declarations F01DGS for Belgium and Intrastat for Italy and France
Get More, Better Communications as Admin
Use Service-to-Service Authentication with Admin API
Cloud Migration Data Upgrade for Extensions
Update Licensed Users from Microsoft 365 Faster
Migrate more data from Dynamics GP
Restore Deleted Environments
Get More Visibility Into Outages
Personalize and Design the Automate Actions in the Web Client
Rely on Personalization to Show or Hide Power BI Parts on Lists
Switch Power Automate Features On or Off
Use a Power Automate Flow to Notify Business Central of Dataverse Entity Changes
Add Media/Image Support for Business Central Connectors
Power Apps and Power Automate Support for Document Attachments
Easily Access Setup Pages for New Apps
Easily Find Apps to Connect to Core Services
Easily Install and Set Up New Apps
New Field Descriptions Improve Clarity
Configure OneDrive Integration
Delegated Admins Can Edit in Excel
Share to Teams Action Now Includes Link Preview
Embed Business Central in Teams Tabs
Access Business Central With Your Microsoft 365 License
Choose the Report Layout on Request Page
Use New Dedicated APIs for Financial Reporting
Performance – Faster Data Stack
Use Power BI App on Telemetry For Insights Into Environments
Compile Against Installed AppSource Apps
Auto-save as You Work
Experience Updated UI Elements
Switch Companies Across Environments
Legacy List Views Will be Hidden
Modern Action Bar
Search in Company Data

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