This is what happens in the video
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You reconcile your bank accounts against the general ledger in Business Central by comparing the bank account balance to the corresponding G/L account balance on the same date. Both figures must match.
You find your bank accounts in the chart of accounts and open the individual bank account to see its balance on a specific date. Use that same date when you check the G/L account.
For foreign currency bank accounts, you reconcile the local currency net change against the local currency balance on the G/L account, not the foreign currency amount. Business Central distinguishes between the net change in the bank’s own currency and the net change in local currency.
How bank reconciliation against the general ledger works in Business Central
When you reconcile your bank against your general ledger, you are comparing the balance on your bank account with the balance on the corresponding G/L account. The two figures should be the same for a given date.
Start by opening the chart of accounts so you can see your bank-related G/L accounts. In this example there are two accounts: one in local currency and one in foreign currency. Both need to be reconciled.
Checking the bank account balance on a specific date
Open your bank accounts and navigate to the balance for each account. You can view the balance on a specific date, and that date has to match the date you are looking at in the chart of accounts.
For the local currency account in this scenario, the balance is 2,296,000, which equals what is shown on the G/L account in the chart of accounts. When the two match, that account is reconciled.
Reconciling a foreign currency bank account
A foreign currency account requires an extra step. You have to distinguish between the net change in the foreign currency and the net change in local currency.
For reconciliation against the general ledger, you use the local currency figure. In this example the local currency amount is 135,274, and that is the figure you reconcile against the matching G/L account. As long as the local currency balance on the bank account equals the balance on the G/L account, the account is reconciled.
Q&A
How do you reconcile a bank account against the general ledger in Business Central?
Open the bank account and view its balance on a specific date, then compare that balance to the corresponding G/L account in the chart of accounts on the same date. The two figures must be equal.
Which figure do you use when reconciling a foreign currency bank account?
You use the net change in local currency, not the amount in the foreign currency. Business Central shows both, and you reconcile the local currency balance against the local currency balance on the G/L account.
Why must the dates match during reconciliation?
The bank account balance and the G/L account balance only match when measured on the same date. If you compare balances from different dates, the figures will not align even when everything is correct.
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