Bank Reconciliation

Finance and Operations/AX User Forum
1

Hi All

When doing bank reconciliation can i load bank statement file into Dynamics AX… means can export bank statement soft copy?

Thanks in advance

Girish

2

Hi All

What is the functionality of Generl Ledger-Lines-Function-Import account statement(transactions) . Can I load bank statemnt soft copy through this? & how… please reply

Thanks

Girish

3

Hi Girish,

The standard Dynamics AX functionality to import bank account statements does not really work - at least for companies in Germany. There are many problems with the correct recognition of the format of the import file that comes from your bank. What is more, there is no automatic recognition and reconciliation functionality available. So, what most partners do is to develop their own import tool that can import and - depending on the information provided in the bank file - reconcile the open customer / vendor transactions. Hope this information helps.

Cheers,

Ludwig

4

Thanks Ludwig

I can understand that you can’t load bank statement directly… but then when we use General ledger-lines-Functions, what is the result Import account statement(transaction) have? Please explain…

Thanks

Girish

5

Hi Girish,

Sorry for my late response. You can easily test what happens when you use the GL import account statement transactions functionality.

Do see this try the following:

  1. Go to the following website of a German banking institution and download the file MT940 Sepa Testdatei (http://www.sskm.de/sskmwww/sskmwww_prod/sskmwww/tipps_hilfe/downloads_forms/datenformate.jsp)

That’s basically a very simple bank statement file in the MT940 file format

  1. Go to GL/setup/journals/Methods of importing bank account statement and setup a method with the import format mt940. also setup a bank and transfer account

  2. Open a GL journal and select functions / import account statement transactions

  3. In the window that pops up select the method of import mt940 and press ok

  4. Select the file and press ok

  5. Dynamics ax imports all lines from the bank file into the journal and generates an import report.

I tested this in the CEE contoso demo application.

Just try to follow the steps 1 to 6.

Cheers,

Ludwig

6

Ok… Thanks Ludwig. Will definatley try this out.

Cheers

Girish