Kristen Hosman’s Dynamics 365 Business Central Blog

Sometimes you need to undo an entire posted journal. Whether it was posted in error, or the wrong dimensions or dates were used you can reverse all the entries in a G/L Register at once.  Key Points Only registers created from posting journals can be reversed this way. You cannon reverse registers that result from other modules like sales or purchasing. If the register includes entries linked to other documents or modules, you may need to handle those separately.  The reversal will automatically balance all entries. Reversals post on the original posting date of the entries. How to Reverse a G/L Register Go to the G/L Resters page. Find the register and click to select the line. Choose Reverse > Reverse Register from the action bar. Confirm that the reverse was completed by looking at the General Ledger Entries page. You will also see a new line in the G/L Registers page that shows the Source Code as REVERSAL. ------ Kristen Hosman is a Microsoft MVP in Denver. She works wi...

When you select an account as a Reconciliation Account on the Account Card it allows you to “preview” the account balance before you post the entry you are previewing. For example, in the General Journal you can select Home > Reconcile and then the Reconciliation window will open. You will see I have several accounts marked as a Reconciliation Account and that is why there are many records showing.  This is a great feature for bank account and other accounts where you want to see what the balances will be after posting.  ------ Kristen Hosman is a Microsoft MVP in Denver. She works with Dynamics 365 Business Central and related technologies. You can also connect with her through this link:  Kristen Hosman | Linktree

Reversing a posted general journal entry is possible through the general ledger entries page in Microsoft Dynamics 365 Business Central.  Considerations before reversing: Are you allowed to post on the posting date? Is this a prior year entry? Have you already filed taxes for the year the entry will be reversed? Navigate to the General Ledger Entries page and search for the transaction you'd like to reverse Select the transaction you'd like to reverse Click on Home > Reverse Transaction Review and then click on Reverse ------ Kristen Hosman is a Microsoft MVP in Denver. She works with Dynamics 365 Business Central and related technologies. You can also connect with her through this link:  Kristen Hosman | Linktree

If you're using Purchase Orders (PO) in Business Central and have a receiving process that requires a warehouse team to receive items off a PO then this tip is for you. Within the Purchase Orders list you can personalize to add the column Amount Received Not Invoiced. This will all Accounts Payable and the Purchasing team to know what PO's have been received but not invoiced yet. To learn how to personalize Business Central check out this blog:  Personalizing Screens In Dynamics 365 Business Central (kristenhosman.com) Reconcile AP to GL There is also a report in Business Central called Reconcile AP to GL that can be useful. The name doesn't make sense but the data it provides does.  Search for  Reconcile AP to GL and make sure to bookmark it since it's hard to remember. Filter if needed or just select Print or Preview. Review the two pages. “The AP to GL Reconcile report is a 'point in time' report. It cannot be run for prior days as it gets its data from the ...

It's standard practice in accounting to "lock" down closed or future periods to prevent users from posting. Within Dynamics 365 Business Central you have what I call a company setting and a user setting. The company setting affects all users within the company, I refer to this as the "rule" and the user setup allows you to make an exception to the rule.  General Ledger Setup Within the General Ledger Setup window, you have the Allow Posting From and Allow Posting To fields. I often recommend to users that you want to populate these fields with the current account period to restrict users from posting in the wrong period. You also have the option to set dates for the Deferral Postings as well. Keep in mind that the deferral dates may be different than the standard posting dates because you're more than likely posting into the future for the deferrals.  The General Ledger Setup is what I refer to as the "rule." User Setup If you need an exception to ...

Scenario: you have a vendor that offers a 2% discount on the net amount if they pay the invoice in full within the first ten (10) days of the invoice date. Otherwise, the full invoice amount is due in 30 days without the discount.  System Configuration Within Business Central you will want to set up a new Payment Terms Code for this specific payment term.  Search for Payment Terms Click New to add a new line Update to reflect the information below Once the Payment Term is set up you can assign this to a specific vendor by opening up the Vendor Card and assigning. Open Vendor Card Add Payment Terms Code to the Payments section of the Vendor Card Verify that the Vendor Posting Group has the correct G/L Account listed for the Payment Discounts.  Open the Vendor Posting Groups Review or update the Payment Disc. Debit Acc. and Payment Disc. Credit Acc. fields with the correct Payment Discounts G/L Account. In my system account 68290 is set up for Purchase Discounts.  Proc...

The purpose of this blog is to discuss how I use the Review Entries feature in Microsoft Dynamics 365 Business Central to reconcile my business credit card. This feature is great for reconciling balance sheet accounts because you can match debits and credits together to track what the remaining account balance is made up of.  Process and Setup As vendor invoices are received and entered into Business Central, I follow the workflow below. I will go through two scenarios in this blog.  Invoice is received and already paid via credit card. Invoice is received and will be paid via credit card at a later date. Let's take a moment to review my setup in the system. In order for this to work as expected I set up a payment method named AMEX and add a balance G/L account of 20108.   Account 20108 is my liability account for AMEX Payable.  Make sure the Review Policy is set to 'Allow Review and match Balance' on the G/L Account Card. Examples of entering vendor invoices No...

This blog is inspired by something I just learned from James Bowles .  Scenario: I have a General Journal with multiple lines and only want to post certain transactions/lines.  In my example I am going to filter on the Posting Date field so only the 04/30 transaction is posted. Once the posting is completed you will see the remaining lines in the journal.  Review the General Ledger Entries and you see only entry posted was the 04/30. Written by: Kristen Hosman, Microsoft MVP