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How to work with the fields in the bank account posting groups in Business Central?
Let me explain how we can use the bank account posting groups to group together transactions on general ledger accounts without the need for lots of general ledger accounts.
This is what happens in the video
I go into the bank account posting groups.
Here, I get a list of the codes that I’ve already created.
You give the group that you want your bank account to come under a meaningful name.
In this case, for example, we have a bank code called BANK-FCY, which is for all our foreign currencies, which we want to group together under one ledger account in our Chart of Accounts.
We also have one that’s in BANK-LCY, which is for our accounting currency, which we want to keep together in one account.
So, you have the code, and next to it you have your general ledger account that you want your transactions posted under.
This way, Business Central keeps track of your ledger accounts in your accounting currency as set here, and the Bank module therefore keeps an eye on the actual currency fluctuations between the currency and whatever is in your accounting currency.