Electronic Banking for Dynamics 365 Business Central – Integration with local banks in multiple countries

Thanks to Electronic Banking, ERP system Dynamics 365 Business Central users can settle payments much faster and more correctly by using the functions such as:

• • defining the templates for payment proposals and bank statements for a given bank,
  • generating payment proposals for customer, vendor and employee entries to be sent electronically to a bank,
  • manual or automatic selection of documents for payment with the Suggest Payments function,
  • defining transfer priorities for specific customers, vendors and employees,
  • managing process flows by defining user roles and payment priorities,
  • importing bank statements from the bank and their automatic settlement with open receivables and payables entries using advanced mapping features,
  • the ability to generate the necessary reports.

Electronic Banking is a solution designed both for companies operating locally and globally. By facilitating the exchange of data with multiple banks in different countries, Electronic Banking provides business worldwide with better opportunities to manage their cooperation with international contractors.

Payment Proposal Templates

The payment proposal template allows you to set up a connection between the banking interface available within the Electronic Banking Extension application for a given country and a bank account specified in Dynamics 365 Business Central. For each bank interface, you can define more than one template.

Payment proposal templates allow the user to predefine and handle multiple transfer scenarios for a selected bank account.

Generating Payment Proposals

Electronic Banking reduces the time required to create transfer orders to a necessary minimum. The process can be fully automated by defining a payment proposal template and using the Suggest Payment function.

Suggesting payments enables you to automatically create payment lines for unapplied vendor or customer entries. Thanks to these functions, the user’s role comes down to indicating the entries for which payment is to be made and sending the generated transfer orders to banks in the form of payment proposals.

Payments suggested by the system can be changed or deleted. You can also enter transfer orders manually.

Payment Proposal Export

You can generate and send transfer orders to the bank with just one click. Payment data can be exported to banking systems as files or be automatically transferred by using the web service or host-to-host technology.

Importing Bank Statements

Electronic Banking allows you to import bank statements from files downloaded from a bank’s system or download them by the using web service or host-to-host technology. Imported bank statement data is processed within a dedicated data structure in the application in order to settle payments it with invoice entries. The settlement process uses advanced settlement suggestion and data mapping features to automatically search for vendor, customer, and employee accounts for each bank statement line.

Based on archived payment proposal data, relevant transfer files are generated and sent within individual banking interfaces.

As part of the extended import functionality, the processes of bank statement recording and reconciliation (settlement) in Business Central are much more efficient and error-free.

Electronic Banking allows for defining payment priorities and payment amount limits. The application raises the efficiency of managing your financial assets thanks to the automated payment processes and flexibility in handling payment settlements for employees and contractors.

Completed payment proposals are stored as read-only archived payment proposals. They are a source of historical data about transfers made to banks. Archived payment proposals contain data on the basis of which new transfers are generated within different bank interfaces offered in Electronic Banking Extensions. They are also used to automatically suggest the settlement of bank statements.

Electronic Banking Register

The Electronic Banking Register page displays all transfer operations performed in Electronic Banking.

The application allows you to set up the workflow for electronic banking users and manage their permissions. You can assign appropriate roles to users to handle each step of the payment process. Depending on the role, the user can create, accept, and post bank statements or payment proposals.

Files in the MT 100 (for transfer orders), SEPA (EUR) and MT 940 (for bank statements) formats are commonly used as standard formats for data exchange between the bank and external systems. To some extent, each bank can adapt these standard formats to its own requirements, which means that the final data formats differ between banks.

Electronic Banking enables flexible selection of formats for exported and imported files. All required formats are supported in bank interfaces available within Electronic Banking Extension applications. The Electronic Banking Base App supports only the pain.001.001.03 format – that is also used in the standard Business Central application.

Communication with bank systems within Electronic Banking can be performed based on file exchange and direct data exchange with the use of web service and host-to-host technologies. Interfaces that support communication and data format types specific for particular banks are delivered within the Electronic Banking Extensions application.