Part 2: New Cash Management features in Microsoft Dynamics NAV 2013 R2

In my last blog, New Cash Management features in Microsoft Dynamics NAV 2013 R2, I demonstrated the new Payment Registration feature, which lets you apply incoming customer payments to outstanding invoices in a simple easy to use screen.

This is classed as the “manual” method because you still need to find the customer and tick each invoice.

There is an even easier approach. The “automatic” approach allows you to use the bank statement as a starting point. By importing your bank statement into NAV, you can send any unreconciled entries to a general journal, where you can run the new Apply Automatically function.

You can specify rules that map payments to Customers, Vendors and GL Accounts according to text found in the description from the bank statement.

Here’s how it works.

Firstly you import your bank statement into the bank reconciliation window. Then by selecting Match Automatically this will find any bank ledger entries to apply against (based on date and value).

You can see in image 1 below, that all the green lines are reconciled. This is great, but it relies on the entries existing in NAV.

Image 1: Bank reconciliation screen

Cash Management im1 Microsoft Dynamics NAV 2013

Looking at image 1, the screen on the left are lines that have been imported, the last few lines have not found a match, i.e. the payments/receipts have not been created as entries in NAV.

Instead of just manually creating the entries in a journal, we can use the Transfer to General Journal function to send the un-matched entries to journal batch of your choice.

Image 2: Journal Selections

Cash Management im2 Microsoft Dynamics NAV 2013

 

 

 

 

 

 

 

 

 

 

Once transferred into a general journal, you can select the Map Text to Account where you can link the description text to a customer, vendor or GL Account.

Image 3: Account Mapping

 

Cash Management im3 Microsoft Dynamics NAV 2013Once this account mapping is setup, see image 3, you can choose the Apply Automatically function.  See image 4 for an example of what is sent to the journal, BEFORE running the process.

Image 4: General journal BEFORE

Cash Management im4 Microsoft Dynamics NAV 2013

Image 5: Select to Apply Automatically:

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Image 6 below shows what it looks like AFTER:

Cash Management im6 Microsoft Dynamics NAV 2013

 

Looking at image 6 above, the system has found the matching vendor/customer and GL account and updated the entries accordingly. It will even apply the amount to any outstanding invoices. Posting this journal will create the bank entries necessary to complete the bank statement.

By Daniel ArgusSenior ERP Consultant at EBS. For more information contact Daniel Argus on 1300 303 973 or email info@ebsys.com.au

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