Bank statement processing in SAP Business One

Bank statement processing in SAP Business One enables the creation and management of incoming and outgoing payments as well as the execution of internal and external bank transfers. Votes. By automatically or manually entering bank statement details, previously unrecorded transactions such as customer payments or supplier notifications of payments made can be recorded. Bank statement processing supports various scenarios. This includes the creation, posting and internal reconciliation of incoming and outgoing payments to Business partnerthat were made by direct debit or bank transfer and have not yet been recorded in SAP Business One.

Setting up account statement processing

Bank statement processing SAP Business One

Setting up bank statement processing in SAP Business One involves several steps that need to be carried out carefully:

Store account statement formatSAP Business One supports the MT940 and Multicash formats. These formats must be requested by the house bank and stored in the table of house bank accounts.
Link house bank with G/L account and interim G/L account: In the house bank accounts window, each bank account is assigned a G/L account and an interim G/L account. These accounts should be determined in consultation with the tax consultant.
Define internal bank codesInternal bank codes help to distinguish the type of transactions. Each line in the account statement is identified by an external code defined by the bank. These external codes must be linked to corresponding internal codes.
Assign internal bank codes to external codesThis assignment takes place in the 'Bank statement processing' module under 'External bank codes'. External bank codes are assigned to internal codes to ensure correct transaction posting.
Assign external codes and posting date to house bank accountsIn the Banks window, the external bank codes must be defined and the posting date set.
Define matching criteriaMatching criteria are rules that SAP Business One uses to match transactions in the bank statement with existing transactions. These criteria can comprise up to three rounds in order to ensure an exact allocation.
Post the opening balance of the bank accountThe opening balance of the bank account is entered into the system in order to open the accounts correctly.

MT940 & Multicash

The MT940 format is a globally recognised standard for the electronic data exchange of bank transactions, in particular for sending account statements. It serves as a communication standard in the banking sector.

Advantages of MT940

StandardisationThanks to the standardised format, banks and companies worldwide can easily process account statements.
automationMT940 enables the automatic processing of account statements in ERP systems, which makes accounting more efficient.
Attention to detailThe comprehensive transaction details make it easier to track and reconcile payments and bookings.

Multicash

MultiCash is a proprietary data exchange format for electronic payment transactions and account statements.

Extension of the MT940 formatIt builds on the MT940 SWIFT format by adding additional fields and structures to provide enhanced functionality.

Future development of the MultiCash format

The XML-based CAMT (Cash Management) formats will replace the MultiCash format in future. This changeover is part of the ISO 20022 standards and aims to achieve global standardisation of financial data formats.

From November 2025, the previous MT940 and MT942 formats will no longer be supported.

Import and processing of bank transactions

Once bank statement processing has been set up, the first bank transactions can be imported. This is done via the menu ?bank processing > Account statements and external reconciliation > Account statement processing? The following steps are carried out:

Select house bank accountThe corresponding bank account is selected.
Import account transactionsTransactions are imported in the bank statement format of the house bank and visualised as parked receipts.
Display details of the account statement lines: Double-clicking on the line generates a detailed view.
Create booking proposalSAP Business One creates a booking proposal based on the defined internal codes and matching criteria.
Finalise booking and reconciliationAfter confirmation of the proposal, the booking and the internal and/or external coordination takes place.

Examples of typical transactions

SAP Business One offers various posting methods for different transaction types. Here are some examples:

Outgoing payment for incoming invoice: Here, software posts the payment of a incoming invoice and tunes them.
Outgoing payment for pension insuranceThis posting is made to a G/L account and reconciled externally.
Outgoing payment with G/L account and input tax postingIf a G/L account is defined in the internal code, the system automatically enters the corresponding VAT amount.
Incoming payment is reconciled with several outgoing invoicesSeveral outgoing invoices can be reconciled with one incoming payment.
Outgoing payment is posted as a payment on account: A payment can be recognised as payment on account and reconcile manually.
Outgoing payment to "Transitory items" accountPayments can be posted to a suspense account and reconciled later.

Internal and external coordination

Reconciliation in SAP Business One takes place both internally and externally:

Internal voteThis refers to the clearing of transactions within the company, such as business partner accounts or G/L accounts. Reconciliation can also be carried out automatically or manually.
External votingThis includes the reconciliation of transactions with external documents, such as bank statements.

SAP Business One makes it possible to reset previous reconciliations if errors have occurred. This is possible via the 'Internal reconciliation' and 'External reconciliation' modules.

Versino Financial Suite - Advanced bank statement processing

Experience the benefits of comprehensive automation with the Versino Financial SuiteOur improved solution for processing bank statements for SAP Business One revolutionises your accounting.

This function not only enables automatic posting based on the business partners involved, but also integrates effortlessly into SAP B1i. Experience the efficiency of capturing and processing account statements completely automatically, saving you valuable time and resources.

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