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  13. Processing electronic banking (Germany)

Processing electronic banking (Germany)

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The bank reconciliation process is performed in the following fashion:

  • The bank sends the statement in the form of a flat file (or a long string of data) in a standard and predefined SWIFT format (MT940). See section SWIFT for more information.
  • The flat file data is parsed and each of the field/value is loaded against their corresponding fields in the workfile, i.e., the values from the flat file are picked on the basis of the values found as per the MT940 standards.
  • The workfile now has all the data; the records are matched (based on the length of debtor number/length of invoice number) with the invoices and unmatched records are shown differently.
  • The matching records in the workfile can now be moved to a batch for uploading them into the A/R transactions.
  • The unmatched records can be manually corrected and attached against the debtor or document type for settlement. After correction, these records can be uploaded into the A/R transactions file.

Process overview

  • The data from the flat file (MT940) is copied to the DEOMT940 file on the iSeries, the program picks the data from this file, identifies the fields defined in the string of data as per the MT940 standards and stores the individual fields in the workfile.
  • The data retrieved in the workfile in the previous step needs to be validated. The data received from the bank may not all be correct or it could even be incomplete in which case the data needs to be corrected and/or completed. However, there are certain fields such as bank identity, transaction currency, outstanding amount, etc., which are read-only and cannot be edited since those fields define the integrity of the bank’s data. This validation of the workfile data is performed in the Maintain workfile electronic banking routine.
  • Once the data is validated, it is moved to the workfile and subsequently moved to A/R batch payment update. The transactions are then bridged to the system when the regular batch update process takes place. This is done by clicking Copy workfile on A/R batch payment update and then clicking Proceed copy on Copy workfile electronic banking after entering the workfile ID.

Flowchart

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