Dynamics Banking

An automated process, ensuring a smooth throughput from bank statements to settled invoices allows companies to focus on the exceptions. Companies that are successful in this area reap the benefits of reduced costs and resource efficiency. This, in turn, makes a significant difference to the bottom-line.

In a rapidly changing environment, agility is vital. To achieve agility, you need the support of a solution you can trust. We have over a decade of experience in delivering solutions that results in customer success. With our flexible solutions, we can support your business to transform your distributional capabilities, enhance your productivity, optimize your business processes and drive business growth.

Dynamics Banking is available for Microsoft Dynamics 365 Finance and Microsoft Dynamics AX 2012.

Benefits

Streamlines banking process
Avoid entry errors
Automatic settlement of open invoice
Automatic assignment to ledger accounts

Importing & Settling

Usually, banks give customers an electronic copy of their statements. It is quicker to import these statements, which include payment information that can be used to settle open invoices. Major Dutch banks' standard MT940 import classes and European banks' standard CAMT053 import classes are both supported. Other banks can readily be added to Dynamics Banking if necessary. Both the structured and non-structured MT940 formats are supported.

Ledger Accounts and Payment Specification

If a transaction should not be related to a customer or vendor, it can be registered automatically against a ledger account. This could be the case with for example payment terminals or bank costs. When performing a vendor payment, which relates to many invoices, a bank transaction cannot hold all related invoice numbers or added specifications. An e-mail with an added payment specification can be sent to the vendor, assuring they apply the payment correctly.

More features

Standard import classes for major Dutch Banks
Easy extension to other banks
Use of bank accounts to identify customers and vendors
Additional identifiers can be configured by users
Settlement to open invoices, based on invoice numbers and amounts
Default ledger accounts, for example, Payment Terminals, Bank Costs
E-mail payment specification for more substantial payments
…and much more

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Streamlines banking process

Avoid entry errors