Bank statement messaging

ERPs are required to support bank statement messages in formats that are provided by banks. Typically, the message data is imported by bank customers to their cash management or general ledger system sand reconciled with the underlying ERP cash transactions.

Brazil specifics

Bank reconciliation is a comparison between the existing movements in a bank account and those in the financial control.

There are electronic statements that facilitate bank reconciliation and reduce the chance of errors when used by financial software. The most used formats for electronic extract are FEBRABAN CNAB 400 and CNAB 240, OFC or OFX. Despite the FEBRABAN standard, each bank in Brazil can have its own particularities.