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 systems and reconciled with the underlying ERP cash transactions.
India specifics
MT940, CAMT.053 and CAMT.054 are required for India.
How Infor meets the requirement
A FSM solution is used to load the bank statements that are received from the banks. MT940, and CAMT053 can be loaded using the FSM solution.
For information about bank statement posting and automatic reconciliation, the Cash User Guide.