Question

Separate expenses and income to different accounts from CAMT

  • 28 December 2021
  • 4 replies
  • 94 views

Userlevel 7
Badge +20

Hi Team,

Customer receive a CAMT file with following values. 
 

Could you please advice on how to distinguish the above three values to 3 different accounts in the system

( Bank does not wish to provide unique proprietary value for each transaction type and customer does not wish to mix interest expense with bank charge as well ) 


4 replies

Userlevel 6
Badge +11

@Xavier Fernando I believe we can achieve this requirement via Pseudo code mapping in external payment parameters. Have you tried? 

Userlevel 7
Badge +20

@Xavier Fernando I believe we can achieve this requirement via Pseudo code mapping in external payment parameters. Have you tried? 

Thanks for your reply,  Here bank use ‘proprietary’ value INT for both interest income and interest expense, if i setup ‘INT’ as Pseudo code, It will fetch both transactions for same account. I believe in order to use Pseudo code functinlaity, bank should send unique proprietary values. Please correct me if im wrong. 

Userlevel 3
Badge +6

Hi @Xavier Fernando,

Based on the prevailing functionality, to overcome the reported issue, you can use the following basic data setup. This setup is suggested because the subfamily code is not considered in the current logic, when reading the bank transaction code.

For Interest Income (Message code MCOP), connect the required account in the message code tab of the External Payment Parameters window.

As the “Interest Expense” and “Bank Charge” shares the same message code MDOP, create two Pseudo codes for INT and CHG.

Create a Definition of Identifier for the Pseudo code identifier type and check the “Use prepared Reference checkbox”

Makesure allow automatic matching checkbox is unchecked in the External Payment Parameters window.

Once the file is loaded to the system, you can use Match and check selected items functionality and proceed creating the mixed payment.

Hope this will help to solve the reported issue. Kindly get back to me if there is any concern.

Regards,

Lihini.

Userlevel 7
Badge +20

Hi @Xavier Fernando,

Based on the prevailing functionality, to overcome the reported issue, you can use the following basic data setup. This setup is suggested because the subfamily code is not considered in the current logic, when reading the bank transaction code.

For Interest Income (Message code MCOP), connect the required account in the message code tab of the External Payment Parameters window.

As the “Interest Expense” and “Bank Charge” shares the same message code MDOP, create two Pseudo codes for INT and CHG.

Create a Definition of Identifier for the Pseudo code identifier type and check the “Use prepared Reference checkbox”

Makesure allow automatic matching checkbox is unchecked in the External Payment Parameters window.

Once the file is loaded to the system, you can use Match and check selected items functionality and proceed creating the mixed payment.

Hope this will help to solve the reported issue. Kindly get back to me if there is any concern.

Regards,

Lihini.


@EntLihinP ,

Thanks for this feedback and i have suggested the same approach towards customer. Only concern whether they would like to loose the Allow Automatic matching functionality.  I will keep you updated.

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