If you have recently upgraded to NAV 2015 and above and your Bank Reconciliation screen looks different, it’s because there are now two types of the Bank Reconciliations you can use: General Bank Reconciliation and North American Bank Rec. (NA Bank Rec.).
If you are new to NAV, the default is the Generic Bank Rec.. If you upgraded, it is likely that the NA Bank Rec., which is the same as your old bank reconciliation, is still in place.
What is the same?
Both types of bank reconciliations compare your open NAV Bank Ledger Entries to the actual entries on your Bank Statement from the bank.
You can either use the NA Bank Rec. or the Generic Bank Reconciliation to manually match all entries similar to the traditional NA Bank Rec. Use the Suggest Lines in the Generic Bank Rec. to populate the Bank Statement lines. If you import your bank statement, you will not use this function but instead will use the ‘Import Bank Statement’ function to populate the Bank Statement lines.
What is the BIG difference?
Mostly, it’s that in the new Generic Bank Reconciliation, you can import your bank statement you download from your bank and automatically match to your bank ledger entries, match entries manually, or remove matches. This can save you TONS of time matching lines so you can focus only on the entries that don’t match.
In the Generic Bank Reconciliation, you are Matching Lines. In the NA Bank Rec., you are marking lines to Yes in the ‘Cleared’ field.
The NA Bank Rec. is a manual process only and is focused more on Checks and Deposits.
When you go to the Bank Account card and the Navigate tab to review your completed bank reconciliations, choose ‘Statements’ if you are using the Generic Bank Reconciliation and ‘Posted Reconciliations’ if you are using the NA Bank Rec..
The General Ledger Setup field ‘Bank Recon. with Auto. Match’ controls which version you see.
If the box is unchecked, the NA Bank Rec. is in use. If the box is checked, you are using the Generic Bank Reconciliation.
If the field is unchecked, you will see traditional Bank Reconciliation you are used to in older versions:
NA BANK REC.
If you try to change the setting in the Genera Ledger Setup, you will see the message below.
It’s just telling you that it has changed the reports used for viewing and printing the Bank Statement and Bank Rec. Test report to use reports that work with the type of bank reconciliation you are using. Nothing to worry about, just click OK.
This is what the Bank Reconciliation window will look like with the field set to’ Yes’ in the General Ledger Setup.
This screen is typically used for a scenario where you are importing the file from the bank to automatch to your bank entries in NAV. You need to match each entry on the’ Bank Statement Lines’ window to an entry on the ‘Bank Account Ledger Entries’ window and/or make adjustments (Transfer to Journal) to post the bank reconciliation.
GENERIC BANK RECONCILIATION