How to use Advanced Bank Reconciliation Matching Rule Sets in AX 2012

by | Jul 2, 2014 | Accounts Payable, Dynamics AX, Financials

With Dynamics AX 2012 R2, you now have the ability to utilize Advanced Bank Reconciliation functionality. In the Bank accounts form, you have the ability to flag a Bank account as being designed for ‘Advanced bank reconciliation’. By marking a Bank account as ‘Advanced bank reconciliation’ in the Bank accounts form, you will be able:
1. Import Bank statement files directly from the Banking institution to create Imported Bank Statements into AX 2012 where the detailed transactions from the imported statement reside in AX 2012 as Open statement lines.
2. Create a Bank Reconciliation journal which shows you the imported Open Statement Lines on one side and Open Bank Documents on the other side. In this created Bank reconciliation journal, you can then use Reconciliation matching rules to tell AX to match the Open Statement Lines against the Open Bank Documents. The Reconciliation matching rules are typically aligned to one of these two actions:
a. Match with Bank document – This should be used for attempting to match Open Statement Lines imported from Bank statements against existing Open Bank Documents already residing in AX 2012.
b. Mark new transactions – This should be used to create New adjustments in AX 2012 for Open Statement Lines that would not inherently already exist in AX 2012.

NOTE: Prior to effectively using Advanced bank reconciliation functionality, it is important that you have the following Microsoft Hot Fixes installed: 2934962, 2964064.

The process of matching Open Statement Lines against Open Bank Documents using Reconciliation matching rules is largely dependent upon the setup of your Reconciliation Matching Rules. There is some general confusion in the channel around the appropriate setup/configuration needed for Reconciliation Matching Rules to take advantage of this functionality, so I wanted to take a moment to put together a couple of examples via this blog.

ASSUMPTION:
– Bank Account ABC has Accounts Payable Checks. These flow through the Bank Account with Bank Transaction Codes of either 469 or 475.
– Bank Account ABC has Accounts Payable ACHs. These flow through the Bank Account with Bank Transaction codes of either 469 or 475.
– Bank Account ABC has Accounts Receivable Deposits. These flow through the Bank Account with Bank Transaction codes of either 169 or 301.
– Bank Account ABC has a Daily Bank Transfer that transfers funds to a different Bank Account. These flow through the Bank Account with Bank Transaction codes of 575.

Based on this scenario, we would want to configure Reconciliation matching rules that accomplish the following:
– Automatically try to match 469 Open Bank Statement lines against Open Bank Documents from AX 2012.
– Automatically try to match 475 Open Bank Statement lines against Open Bank Documents from AX 2012.
– Automatically try to match 169 Open Bank Statement lines against Open Bank Documents from AX 2012.
– Automatically try to match 301 Open Bank Statement lines against Open Bank Documents from AX 2012.
– Automatically create New adjustments that were imported with 575 Open Bank Statement Lines.

SETUP/CONFIGURATION OF RECONCILIATION MATCHING RULES:
1. A Reconciliation matching rule should be created for the 469 Bank Transaction code that resembles the following.

Reconciliation Matching Rule

2. A Reconciliation matching rule should be created for the 475 Bank Transaction code that resembles the following:

Reconciliation Matching Rule

3. A Reconciliation matching rule should be created for the 169 Bank Transaction code that resembles the following:

Reconciliation Matching Rule

4. A Reconciliation matching rule should be created for the 301 Bank Transaction code that resembles the following:

Reconciliation Matching Rule

5. A Reconciliation matching rule should be created for the 575 Bank Transaction code that resembles the following:

Reconciliation Matching Rule

6. Activate the reconciliation matching rules so that the Reconciliation matching rules have the Active flag marked.
7. Assign the Reconciliation matching rules to a Reconciliation matching rule set. The Reconciliation matching rule set would them resemble the following:

Reconciliation Matching Rule

After the Setup/Configuration of these Reconciliation matching rules that are now included in the single Reconciliation matching rule set, you can select this Reconciliation matching rule set on the Bank reconciliation journal after the Bank statements have been imported. By using the simple Setup/Configuration of the Reconciliation matching rules, you can use these Reconciliation matching rules in a manner that allows you to automatically match/create new adjustments for imported bank statements in AX 2012.

Thanks, Ryan

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