ORDAT 365elba

When processing daily bank account statements, there are many business transactions that needed to be mapped. These individual business transactions require corresponding preliminary account assignments and analyses as well as allocation of the open items to be cleared. Special adjustments such as bank charges and contractually agreed incoming or outgoing payments must also be taken into account. This requires time-consuming processing in the accounting department.

With the electronic banking app developed by ORDAT, the daily processing and posting of bank account statements from various bank accounts in your company can be largely automated in Microsoft Dynamics 365 Finance/SCM. Master data and parameters support the implemented search algorithms to generate a pre-assigned posting record. A connection to subledgers Accounts Receivable & Accounts Payable is available.

Rough procedure

You receive your bank account statements from an online banking system such as MultiCash, Profi cash, SFIRM or similar from your bank. The delivered bank account statements are automatically transferred to a data entry journal with the help of ORDAT 365elba and supplemented with account assignment information. The allocation of open items for debtors and creditors is carried out using the information specified in the purpose of the bank statement lines.

Advantages of ORDAT 365elba

• Automated and secure processing of data exchange between banks and companies
• Automated OP reconciliation, saving a considerable amount of time
• Central control and management of all your payment transactions
• One import of bank account statements over serveral companies
• Fulfillment of current security standards and compliance requirements
• Reporting functions via imported bank account statements
• Seamless integration into the existing system environment

This application is also available in German: (https://www.ordat.com/loesungen/teilloesungen/microsoft-ergaenzungen/electronic-banking.html)