New Functionality In Microsoft Dynamics 365 Business Central 2022 Wave 2: Reverse Payment Reconciliation Journal Entries

This 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 fourteenth of the new functionality in the application section is reverse payment reconciliation journal entries.

You can use different number series for payment reconciliation journals. You can also reverse any posting done through the journal.

Enabled for: users, automatically
General Availability: December 2022

If you use the Payment Reconciliation Journal page to register and apply customer payments, you can set up the journal to use a specific number series so that it’s easy to identify the entries that were posted through the journal. You set up the number series in the Bank Account page in the Posting FastTab.

When you use automatic application, Business Central skips bank ledger entries that have already been posted, which helps prevent double-posting.

If you’re also doing bank reconciliation, we’ve added the following to the test report:

• The statement date is added as the most recent date of entries in the journal.
• The statement ending balance is added as the sum of amounts in the journal.
• Outstanding payments and checks are calculated based on the bank ledger entries within the statement ending date that isn’t applied, and therefore won’t be closed during a bank reconciliation.

Similar to other journals, when you correct posted entries you can reverse entries that were posted through the payment reconciliation journal from the G/L Register page. For example, it might be helpful to reverse entries if you applied a payment to the wrong customer. After you unapply the posted customer ledger entries you can use the Reverse Register action on the G/L Register page to reverse the journal that posted the payments. Alternatively, on the Posted General Journals page, you can use the Copy Selected Lines to Journal action to reverse specific lines from the posted payment reconciliation journal.