D365 [Health] ERP | Electronic Banking for Multi-Location Healthcare Facilities

The second area of focus with D365 Health will be in electronic banking. Now standard Microsoft Dynamics 365 Business Central of course supports electronic banking. We want to leverage that and increase the efficiency of which we are communicating with the bank so we always know exactly what our current position is and to do that we’re going to leverage again standard Microsoft Dynamics 365 Business Central functionality from the cash management drop down.

The first thing we want to talk about are the bank accounts themselves and in Business Central you can create as many different banking accounts as you need all of which can then be connected electronically to that bank so that we can send payment instructions. We can download our bank statements to do reconciliations etc. From the list of bank accounts that have been created, I can simply drill back into my checking account and now I want to go and set up my bank statement service this is where I can link to my online bank account once I’ve linked to that online bank account I’ve established that communication.

Now I can pay my vendors electronically by sending them an instruction out of business central to do that eft transfer I can collect money from my customers via the same process withdraw funds directly from their account and of course once I have this connection established I can move into the world of electronic bank reconciliation, where we can download the statement directly from the bank we’ll do our best to match for you.

The activity that bank statement represents essentially leaving you in the position of having to handle all of the exceptions inside that process that works again for checking account. I can also do that with credit card accounts with savings accounts, investment accounts. All of your banking can be set up and handled electronically inside Business Central.