Automated Accounting Part 12, Bank to Bank Transfer Journals

By - September 10, 2021

D365 is to post bank transfers in a single journal without using a clearing account if you attempt to post a journal crediting one bank account and debiting another bank account.

Excerpt from Microsoft docs

Balance transfers from one account (vendor, customer, bank, and so on) to another account can be done through separate vouchers, and the offset can be posted to a clearing ledger account.

Microsoft recommends that you use two vouchers coded to an offset account. There is an easier way, as we will explain in this blog.

The setup is straightforward and requires a single setting in the General Ledger Parameters

1. General Ledger Parameters

Set the Allow multiple transactions within one voucher to YES, as exhibited.

This setting will allow a voucher to have Account Type = Bank to be used more than once within a voucher.

General ledger > Ledger setup > General ledger parameters > General (tab) > General section

2. Journal Entry

Now you can process General Journal with multiple Bank Transaction Types within a single voucher.

Create and post a General Journal like exhibited.

Use different Bank Accounts.

Note that a clearing account is not utilized.

General ledger > Journal entries > General journals > New

3. Journal Voucher

View the Posted Voucher.

General ledger > Journal entries > General journals > [select your poste journal] > Lines > Voucher

We have successfully posted a General Journal to multiple Bank accounts, synchronously updating the related Bank sub-ledgers and General Ledger in a balanced manner.
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