When a bank account is first used in ABR. You need to perform an initial reconcile, and enter the Banks Statement Balance, this is call setting the Opening Position for the bank. Once this process is complete the bank becomes active, and can be reconciled using the normal process.
Several scenarios existing for this process depending on how you have been reconciling up to this point
Scenario 1: You are new to business Central, and are starting by importing balances and outstanding (unreconciled) transactions
The example below assumes you are going live with Business Central on 30/09/22
You will need the following figures
- You Bank Account's Statement, with the Balance for 30/09/22
- A list of your outstanding unreconciled transactions, eg. Unpresented Checks, or transaction not yet cleared by the Bank
- Your Reconciled G/L balance from your previous finance system.
- Example Bank Ledger (GL) Transactions
Enter Business Central Transactions for your Unreconciled Bank transactions
and add a transaction which represents the reconciled transactions, to bring the Bank Ledger balance to the correct value
| Posting Date | Description | Amount | Balance | |
| 02/09/2022 | Check 11 | -1000.00 | -1000.00 | |
| 10/09/2022 | Check 22 | -2000.00 | -3000.00 | |
| 21/09/2022 | Check 23 | -4000.00 | -7000.00 | |
| 30/09/2022 | OPENING BALANCE | 20000.00 | 13000.00 |
Next setup the Opening Position within ABR.
Goto Admin ->Bank Accounts
Open your Bank Account record, and click the 'Set Opening Position' button
On Page 1 of the wizard
Enter the 'Starting Date' this date is the cut-off date for ABR, no statement or Bank Ledger transactions will be imported before this date. In the above example this is 01/09/2022
Enter the 'Opening Position Reconcile Date' this is the date when you plan to switch over is using ABR, This will be the date of the first reconcile. In the above example this is 30/09/2022
Enter the 'Ending Balance' this is your Bank Accounts Statement Balance as at 30/09/2022, in our example this will be 20,000.00.
On Page 2 of the wizard
As you have no Reconcile transactions in BC yet, this page iisn't need for this Scenario.
Accept the default option, and click next
On Page 3 of the wizard
Use the reconcile page, to mark ALL READY reconciled transactions, the aim here is to mark off everything leaving just the UNRECONCILED transactions.
The window will allow unbalanced matches to achieve this.
In the above example the 30/09/2022 OPENING BALANCE transaction would be marked as this represents the previously reconciled transactions from the previous finance system
Next look at your statement transactions, these will have been imported from your automated Bank Feed in Nolan Bank Feeds. All statement transaction before the cut off (01/09/2022) will be ignored, you will only see statement transaction between 01/09/2022 and 30/09/2022 (Inclusive)
You must match off the transaction which were previously reconciled, leaving those still outstanding.
Once complete click Actions -> Reconcile, you will be warned this is a onetime only process, agree and complete the reconcile.
The bank is now active and ready for normal reconcile processing.
Scenario 2: You are an existing Business Central
You already have transactions in Business Central and have been using the Business Central reconcile process to reconcile.
The example below assumes you are going live with ABR on 30/09/22
You will need the following figures
- You Bank Account's Statement, with the Balance for 30/09/22
- A list of your outstanding unreconciled transactions, eg. Unpresented Checks, or transaction not yet cleared by the Bank
Goto Admin ->Bank Accounts
Open your Bank Account record, and click the 'Set Opening Position' button
On Page 1 of the wizard
Enter the 'Starting Date' this date is the cut-off date for ABR, no statement or Bank Ledger transactions will be imported before this date. In the above example this is 01/09/2022
Enter the 'Opening Position Reconcile Date' this is the date when you plan to switch over is using ABR, This will be the date of the first reconcile. In the above example this is 30/09/2022
Enter the 'Ending Balance' this is your Bank Account's Statement Balance as at 30/09/2022,
On Page 2 of the wizard
As you have reconciled transactions in BC already, for 'Default Position From' 'Business Central Bank Reconcile'
ABR will attempt to match your Reconcile Statements Data from BC with the new Bank Feed data coming from your automatic bank feed in ABR
Click next
On Page 3 of the wizard
Only unreconciled BC transactions will be pulled into ABR, therefore the BC Bank Ledger should be correct.
On the Statement side, ABR will have to automatically matched statement lines it could find in your BC reconciled Statement History
Check that all the existing reconciled statements have correctly been marked as matched.
Once complete click Actions -> Reconcile, you will be warned this is a onetime only process, agree and complete the reconcile.
The bank is now active and ready for normal reconcile processing.
