Question

Template from MT940 to be imported as Bank statement ?

  • 24 September 2021
  • 6 replies
  • 80 views

Userlevel 1
Badge +1

Hello,

 

Has any one build a template from MT940 to be imported as Bank statement in Ifs for bank reconciliation ?

 

Thank you.

Xavier

 


6 replies

Userlevel 7
Badge +11

HI @XAIVFR ,

Hope this will help you :)

 


Best Regards,
Thanushi​​​​​​​

Userlevel 6
Badge +10

Hi @XAIVFR ,

You can do it via external file template. But, this is consulting task which is normally billable 🙂

But if this is only for internal IFS testing purpose, please drop me a message. 

Best Regards

Eranda

Userlevel 1
Badge +1

Hello Eranda,

 

Thank you for your quick answer.

 

I found an example of MT940 on internet : pages 6 & 7 & 8

https://www.bankmillennium.pl/documents/10184/128700/File_format_description_of_MT940_v20120309_1216901.pdf/d56bc65f-fa84-4d6c-b07c-9ca60381016b

 

So because it's bank statement format, I was wondering how import in Ifs.

 

On line beginning with Tag :61: we find : Date, Debit or Credit, Currency and transaction amount.

But to get some description of the transaction it's on another lines with Tag :86: split in numerous lines :-(

 

So I don't understand how it's possible group lines in an external file to get one Bank Statement line.

Any idea ? Have you an example ?

 

Thank you

Xavier

 

Userlevel 3
Badge +3

Since there are slight changes in MT940 file templates and it is depending on the bank and country, we need to get the customer's requirement first. This is mainly to determine whether customer want to use MT940 for Bank Reconciliation or AR/AP Reconciliation.

However, IFS Standard solution contains two MT940 formats and those can be used for AbnAmro bank Netherland and German banking communities. But below MT940 file formats that is currently available in the ‘APP10 Test CMB/ External File Template’ window. I hope you will be able to duplicate one of that Template and modify the details as per your requirement.

  • MXP_MT940DE
  • MT940 DB DK
  • CUP_MT940NLABN

I hope this information will help you.

 

Kind regards,

Shanuka.

Userlevel 6
Badge +10

@XAIVFR @Shanuka Lashan 

 If you are using MT940 file for bank reconciliation purpose, you have to create the external file template based on the standard bank reconciliation template. That means once the file is loaded the data should be extracted for TransactionInfoX columns (You can get an idea through automatic transaction matching window). IFS standard MT940 templates are used for AR/AP reconciliation and it does not help for the IFS bank reconciliation process.

@XAIVFR , if the requirement is for the EU client, please double check whether they really need IFS bank reconciliation process. Because they are moving to the CAMT file and it is hard to map it for IFS Bank reconciliation purpose. This is quite debatable topic. Because, if your customer is not using documentary payments such as Checks and BOEs and if they always follow automatic bank transfers, their cash book is concurrently synched with the bank. If they can load the MT940 (or CAMT.53 or .54)) daily, they can easily use AR/AP reconciliation process. As you know the bank fee is automatically captured in this process. But, some regions still prefer to live with the traditional cash book based bank reconciliation specially for the control purpose.

If the requirement is certain, you can process with the following option. But, you have to think a way to set the matching attributes, for an example, if your customer is using automatic supplier payment flow for vendor payments, you don’t have a unique reference in the cash transaction to match with the MT940 file reference.

There is a MT940 Bank Statement file template which I have developed sometimes back in IFS internal environment. I will message you the details.

 

Userlevel 1
Badge +1

Since there are slight changes in MT940 file templates and it is depending on the bank and country, we need to get the customer's requirement first. This is mainly to determine whether customer want to use MT940 for Bank Reconciliation or AR/AP Reconciliation.

However, IFS Standard solution contains two MT940 formats and those can be used for AbnAmro bank Netherland and German banking communities. But below MT940 file formats that is currently available in the ‘APP10 Test CMB/ External File Template’ window. I hope you will be able to duplicate one of that Template and modify the details as per your requirement.

  • MXP_MT940DE
  • MT940 DB DK
  • CUP_MT940NLABN

I hope this information will help you.

 

Kind regards,

Shanuka.

 

Thank you, but those external file templates are related to External customer or Mixed Payment :

 

and We are looking for BankStatement :

 

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