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.
Netherlands specifics
The XML Bank to Customer statement message ISO20022 camt.053.001.02 and the SWIFT MT940 structured formats are used in the Netherlands.
The SWIFT MT940 format is similar to the standard MT940, but has additional SEPA-specific information in the remittance, such as using structured code words.
How Infor meets this requirement
The LoadBankStatement_Inbound BOD is processed in FSM and the respective bank account statement records are created. These records are also used for reconciliation.
The LoadBankStatement_In GEMS must be imported into ION and an SFTP connection must be established in the document flow. This process is used by FSM to process the BODs and to create the bank account statement records. See Infor Localization Services GEMS User Guide.
The MT940, CAMT.053, and CAMT.054 formats are only available in FSM. See the Financials Setup and Administration Guide.