Struggling with manual payment reconciliation in Microsoft Dynamics 365 Business Central? Learn how to automate the process with the ‘Automatic Application’ feature and bank account integration to streamline your workflow and reduce errors.
Table of Contents
Question
Your company is experiencing issues with their current manual method of reconciling payments, which is time-consuming and error prone.
You need to automate the payment reconciliation process in Microsoft Dynamics 365 Business Central.
What should you do? Each correct answer presents part of the solution. Choose 2.
A. Enable the ‘Automatic Application’ feature to reconcile payments with related posted sales invoices.
B. Set up bank account integration to automatically import and match payment transactions.
C. Continue to manually reconcile payments at the end of each month.
D. Use the ‘Merge Duplicate Records’ feature to consolidate payment entries.
E. Implement a third-party payment processing system to handle reconciliation.
Answer
A. Enable the ‘Automatic Application’ feature to reconcile payments with related posted sales invoices.
B. Set up bank account integration to automatically import and match payment transactions.
Explanation
The are A and B because enabling the ‘Automatic Application’ feature automates the matching of payments to invoices, and setting up bank account integration further stratifies the reconciliation process by importing and matching transactions. Option C is incorrect as it does not improve efficiency. Option D is incorrect because the ‘Merge Duplicate Records’ feature is not used for payment reconciliation. Option E is incorrect as it suggests adding complexity with a third-party system when Business Central can handle the process internally.
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