Advanced bank reconciliation has been designed but no bank statement report provides clear information.
Bank statement report is required base on cutoff date. This report should have option to detail
* reconciled transactions
* Un-reconciled transactions
Customer should be able to have a statement at date of what is in his bank account for Audit, cash management, management decision.
Comments
In addition to the comments the report needs following improvements:
- In the new transactions section print mapped GL and GL name. When finance manager reviews the report before approving a journal they need to see to which GL the amount will be posted.
- Also all the subsections need their subtotals
- Currently the report has only unreconciled transaction section so when printing the report for an audit it does not show any transactions if we have a complete match. It needs a section for reconciled transactions as well so you can match your totals from the header section of the report to the subtotals for new, unreconciled and reconciled transactions. That provide a complete view on what is happening inside of the journal.
- Add description field from a bank transaction in addition to the reference field. Some banks will put valuable description in different fields on the same format like BAI2 so it is good to see Reference field and Description field on this report.
Category: Cash and bank management
Rather it should have an option also to select the financial dimension level such as None, Table or Posting same like the AP and AR module.
We have huge entries after the bank reconcilaition and we are struggling just to give a clarification for the same to the auditors.
Category: Cash and bank management
Some great comments on cutoff date etc. Our big request is that the prior bank reconciliation numbers are what they should be. We find that they are not stored fields, but calculated fields.
So whenever we generate a prior bank reconciliation report, the prior balances change.
Only workaround is to store as a PDF at the time of doing the bank reconciliation. Being an ERP system, thought that the bank rec module would be fairly robust.
Looking forward to see what comes out in future releases.
Category: Cash and bank management
This is needed in my company as well. Thank you for the road map consideration.
Category: Cash and bank management
This kind of statement at cutoff date is just mandatory, asked by advisors.
Also the current report version is false, as "bank end balance" - "company end balance" might be different from presented "unreconciled amout".
Category: Cash and bank management
Hey,
Just an add, yes the current bank reconciliation form is wrong, if a transaction is backdated, the displayed report makes no sense anymore (it could display something we don't like, but here it's just wrong). Hope it will be developped soon :)
Thank you @Annaick
Category: Cash and bank management
Yes there are many customers with multiple bank accounts and high volume of bank transactions in each.
A second problem is that many banks provide limited details and daily reconciliation is the only way to stay on top,
We expect to see inventory on hand and to view trransactions - that is ultimately just another way of holding value i.e. like a bank currency
Category: Cash and bank management
This is the only report using advance bank rec that allows us to show the auditors that the bank reconciles with general ledger.
It has everything, but unfortunately it hasn't a cut off day which is what we need.
I've checked other reports but they don't have enough information for the auditors.
For now, it looks like our customer will need to do a modification to be able to pass the audit on this point.
So, I would really recommend to have this available with a cut-off date as more customers are using the advance bank reconciliation functionality.
Category: Cash and bank management
Great Idea, this will be very helpful to retail organizations.
Category: Cash and bank management
I agree with comment from Djuro. This enhancement is important for daily bank reconciliation tasks for mid size organizations using standard out of box functionality in AX 2012 R2
Category: Cash and bank management
Sara Schilke (administrator) on 2/2/2024 3:20:22 AM
Bank reconciliation report will be redesigned in 2024 wave 1. Enhanced bank reconciliation statement report | Microsoft Learn