Implementing Cloud Financials: From Empty Pod to Go-Live · Module 6 · Banks, Branches and Cash Management
Bank statement formats and transaction codes
Lesson 60 of 153 · 2 min
Three formats: the North American batch format, the SWIFT message format, and the ISO XML standard. What each looks like, which banks use which, and which is most common in your region. Then a real statement file, open in a text editor. Most learners have never seen one, and looking at one demystifies the whole process in about a minute. Transaction codes are the bank's own codes for "this was a wire in", "this was a cheque out", "this was a fee". Every bank uses different codes. You map the bank's codes to system transaction types, that mapping is both bank-specific and account-specific, and it is manual work — and it is the first thing to check when nothing reconciles. Then parsing rules: how the file gets read in, and where you would customise. Get three months of real statement files from the client's bank before you configure anything. Not…
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Cloud Financials: From Empty Pod to Go-Live, with a certificate on completion and a fourteen-day refund window.