Learn the best practices for configuring a bank account to automatically handle both local and foreign transactions in Microsoft Dynamics 365 Business Central. Ensure smooth reconciliation by linking the account to the chart of accounts with the right posting group.
Table of Contents
Question
Your company operates with multiple currencies and requires a bank account setup that can handle both local and foreign transactions efficiently.
You need to ensure that the bank account is configured to automatically handle transactions in the correct currency and facilitate easy reconciliation.
What should you do?
A. Link the bank account to an account in the chart of accounts through the assigned bank account posting group.
B. Set the bank account to handle all transactions in local currency by leaving the currency code blank.
C. Create a general journal template with no number series for each currency used by the company.
D. Implement recurring journals for each foreign currency to automate the currency exchange process.
Answer
A. Link the bank account to an account in the chart of accounts through the assigned bank account posting group.
Explanation
Linking the bank account to the chart of accounts through the bank account posting group is essential for automatic transaction handling and reconciliation. The other options are incorrect because they do not meet the requirement for handling foreign transactions.
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