How-ToFinance & Operations

How to Configure Bank Accounts in Business Central

Set up bank accounts and perform bank reconciliation in Business Central to keep your cash balances accurate.

Stein Sæstad
7 min read

Bank accounts in Business Central track cash movements and tie each bank account to a G/L account through a posting group. Once a bank account is set up, you can import bank statements and reconcile them against posted ledger entries to verify that your books match the actual bank balance.

Create a Bank Account

  1. Search for Bank Accounts using Alt + Q.
  2. Select New.
  3. On the Bank Account Card, fill in the following fields:
FieldDescription
No.A code to identify this bank account (e.g. MAIN-USD)
NameDescriptive name, such as the bank name and account type
Bank Account No.The account number at the bank
Currency CodeLeave blank for the local currency, or enter a currency code for foreign currency accounts
Bank Account Posting GroupLinks this bank account to a G/L account (required for posting)
  1. Under the Communication section, you can optionally enter the bank’s name, address, and contact details for reference.

Set Up a Bank Account Posting Group

The Bank Account Posting Group tells Business Central which G/L account to post cash movements to.

  1. Search for Bank Account Posting Groups using Alt + Q.
  2. Select New.
  3. Enter a Code (e.g. DOMESTIC).
  4. Set the G/L Account No. to the bank account in your chart of accounts, for example, the G/L account for your current account with the bank.
  1. Return to the Bank Account Card and assign this posting group in the Bank Account Posting Group field.

Import a Bank Statement

Business Central can import bank statement files in supported formats (such as CAMT.053 or OFX), or you can enter lines manually.

  1. Search for Bank Account Reconciliations using Alt + Q.
  2. Select New.
  3. Set the Bank Account No. to the account you want to reconcile.
  4. Enter the Statement No. and Statement Date.
  5. To import from a file, select Import Bank Statement from the action bar and choose the statement file.
    • If your bank format is not set up, you may need to configure a data exchange definition under Bank Export/Import Setup first.
  6. To enter lines manually, add rows directly in the Bank Statement Lines section with the transaction date, description, and amount.

Match Statement Lines to Ledger Entries

After importing, you need to match each bank statement line to the corresponding posted entry in Business Central.

  1. On the Bank Account Reconciliation page, select Match Automatically from the action bar. Business Central will attempt to match lines based on amount, date, and document number.
  2. Review the matched lines. Matched pairs appear highlighted. The Statement Amount and Applied Amount columns should agree for each matched line.
  3. For lines that were not matched automatically, select the statement line and choose Match Manually. In the panel that opens, select the corresponding ledger entry and confirm.
  1. The Difference field at the bottom of the page should reach zero once all lines are matched.

Post the Reconciliation

  1. Verify that the Statement Ending Balance matches your bank statement.
  2. Confirm that Difference shows 0.00.
  3. Select Post from the action bar. Business Central closes the reconciliation and updates the bank account’s last reconciled balance.

After posting, you can review the reconciliation history by opening the Bank Account card and selecting Ledger Entries or Reconciliations.

Payment Reconciliation Journal

For high-volume payment processing, the Payment Reconciliation Journal is an alternative to the bank account reconciliation page. It imports a bank statement and applies payments to open customer and vendor ledger entries in one step, posting both the bank entry and the application simultaneously. Search for Payment Reconciliation Journals to access it.

For setting up the G/L accounts that support bank posting, see How to Set Up Posting Groups in Business Central.