Clearing accounts in the general posting setup
This page describes the receivables and payables clearing accounts that 365 business Banking uses when posting in the payment reconciliation journal.
If a payment reconciliation journal line posts to a G/L account and has posting setup (for example, a bank fee with input VAT), 365 business Banking can post payment and expense separately. The payment is posted against a clearing account, and the expense or income is posted separately and clears the clearing account again. The clearing account is defined in the general posting setup of Microsoft Dynamics 365 Business Central.
Standard functionality in Business Central
The General Posting Setup defines, per combination of general business posting group and general product posting group, which G/L accounts sales and purchases are posted to. For more information, see Set up posting groups on Microsoft Learn.
What 365 business Banking adds
365 business Banking adds two fields to the list and the card of the general posting setup:
| Field | On the card, FastTab | Used for lines with posting type |
|---|---|---|
| AP Clearing Account | Purchases | Purchase |
| AR Clearing Account | Sales | Sale |
When the clearing accounts are needed
The clearing accounts are only used for payment reconciliation journal lines that
- have account type G/L Account,
- carry posting setup (Posting Type, posting groups), entered manually or from a reconciliation rule, and
- are either posted with Bank Account Reconciliation Line Posting = Use Clearing Account or have a Deferral Code.
With Direct Posting and no deferral code, no clearing account is used. Lines of account type Customer or Vendor with posting setup do not need a clearing account either. For these lines, the additional posting clears the customer or vendor directly.
The setting and its effect are described in Banking Setup, and the posting setup on the line in Posting setup.
Set up
- Choose the Search icon, enter General Posting Setup and open the page.
- For every combination that occurs in your reconciliation rules or payment reconciliation journal lines, enter a G/L account:
- AP Clearing Account for expenses (posting type Purchase),
- AR Clearing Account for income (posting type Sale).
One clearing account is often enough
You can use the same G/L account in every combination. After each posting, the balance is zero because the additional posting clears the amount completely. A remaining balance indicates a posting that was not completed.
When accounts are missing
| Message | Cause and remedy |
|---|---|
| Posting error for the missing AP Clearing Account or AR Clearing Account | The account is empty in the line's combination. Business Central collects all missing accounts of a posting run and shows them together, each with a link to the affected line of the general posting setup. Enter the accounts and post again. |
| "General Posting Setup is missing for Gen. Bus. Posting Group …, Gen. Prod. Posting Group …." | The line's combination does not exist in the general posting setup. Create it or correct the posting groups of the line or of the reconciliation rule. |