Electronic Banking Improvements

Business Central Accelerator has added three improvements to electronic banking procedures in NAV.

First, some extra checks were added to the payment file generation procedure, in order to avoid rejection of the xml file by Isabel. More specifically, additional controls have been put in place to check if the bank account name of the vendor bank account as well as the company bank account is filled in the payment journal batch.

Next, an extra parameter has been added to the company bank account card to send grouped payments. If this parameter is not flagged (standard NAV), the bank will list every vendor payment as a single payment on the bank statement, instead of putting one grouped payment (per payment file) on the bank statement. This would mean that the user needs to add up all these single payments again to reconcile it to the payment in transit account.

Third, the vendor name has been added to the payment journal. This enables users to have a better overview of the suggested payments.

Setup

No setup required.

Execution

1. Choose the search icon, enter Vendor
2. Choose the Related action, select Vendor and select Bank Accounts
3. Choose the New action to create a Bank Account Card. Don't fill in a Name
4. Choose the Payments fastTab, fill in the Preferred Bank Account Code
5. Choose the search icon, enter EB Payment Journals
6. Choose Suggest Vendor Payments action, to have NAV suggest invoices you want to pay.
7. After you have all the necessary payment lines, click the Check Payment Lines button.
8. You will receive the following error:

  • The Name of Vendor bank account cannot be blank for the vendor xxxxxx in payment journal line number xxxxxx_
  • The Name field cannot be blank in payment journal line number xxxxxx

9. Fill in the Name in the Vendor Bank Account card that is used in the Payment Line.
10. Click the Check Payment Lines function again. You will then get the following message:Payment lines have been validated successfuly

Note

The same principle applies to the companies own bank account name.

The second improvement, namely the Batch Booking flag, will take effect in the Bank Statements you receive from your bank. To verify the third improvement, do the following:

1. Choose the search icon, enter Payment Journal
2. Choose the Suggest Vendor Payments action to have some payment lines proposed.

Note

Invoices can be automatically matched with a Credit memo and vice versa, with one remark. "Posting Date" of the Credit Memo is older than the "Posting date" of the Invoice.