How to Set up Electronic Reconcile in Dynamics GP

Posted on: August 26, 2016 | By: Craig Thompson | Microsoft Dynamics GP

What is Electronic Bank Reconcile?

Electronic Bank Reconcile is a module that allows companies to track transactions and balances for all checkbooks in order to reconcile electronically while saving time on data entry. Setting up Electronic Bank Reconcile in Microsoft Dynamics GP is incredibly useful to using the software, but can be rather confusing and difficult. Today, I will share with you a step by step guide on how to set up Electronic Bank Reconcile in Dynamics GP.

How to Set up Electronic Reconcile in Dynamics GP:

First, confirm that the Bank Account field is populated. Navigate to Cards –> Financial–>  Checkbook. Select one of your checkbooks and make sure that there is a bank account number in the Bank Account field.

Checkbook Maintenance in Dynamics GP

Next, set up the upload configuration in Configurator. Navigate to Financial –> Routines –> Electronic Reconcile –> Configurator. You should be able to get a text file from your bank that has the configuration necessary. Save that file on your computer. Click Import at the top of the screen. Find the configuration you just saved. Enter the Checkbook ID as the Bank Format ID and enter a description. Once you are done, click Save. 

Bank Format in Dynamics GP

Now you are ready to upload transactions into Microsoft Dynamics GP. Your bank should give you the ability to download transactions in the same exact format that was created in the Configurator. If you have any questions, contact your bank and work with them to get this set up.

Microsoft Dynamics GP is an excellent ERP software to help elevate your business and simplify many common accounting pain points that businesses can face. For more information on Dynamics GP's ERP software and if GP is the next best step for your business, contact Logan Consulting your Chicago based Microsoft Dynamics Partners for a quote or consultation. Just looking to learn more about GP and your other ERP options? Check out our Reference Library.



2020 Nucleus Research Report on ERP Technology

Free Download:

2020 Nucleus Research Report on ERP Technology

Download the guide ›