Electronic Banking is an extension of the standard electronic banking functionality in Dynamics 365 Business Central, which facilitates the handling of transfers to bank accounts and the import of bank statements.
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:
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.
Electronic Banking is a solution that includes the Electronic Banking Base App and extensions designed for banks in individual countries (Electronic Banking Extension).
The Electronic Banking Base App includes full functionality and an interface for the SEPA standard format. Country specific applications i.e. Electronic Banking Extensions support specific local requirements and offer local bank interfaces per country.
The Electronic Banking concept allows for flexible addition of interfaces for all banks with which companies cooperate in different countries. This means that Electronic Banking can significantly speed up settlements with local and international contractors.
Electronic Banking Extension PL is an application with interfaces for banks in Poland, including BNP Paribas, Citi Handlowy, mBank, Millenium, Pekao S.A., PKO BP, ING, Santander (more interfaces to be added). The application is fully integrated with another solution developed by IT.integro: Polish Localization for Dynamics 365 Business Central.
ERP system Dynamics 365 Business Central together with Electronic Banking and Polish Localization are an excellent and complementary solution package for companies operating in Poland, as they meet all the requirements related to legal, tax and accounting regulations as well as integration with banks.
Electronic Banking provides a number of enhancements that facilitate payment processing and data exchange with banks. The application allows users to prepare automatic or manual bank transfers for vendors and customers without leaving Dynamics 365 Business Central. The bank transfers selected can be approved and viewed in the electronic banking register and then, sent to the banking system. It is also possible to reconcile bank statements with the customer and vendor ledger entries on the basis of which bank transfers were created.
The payment proposal template is a link between the banking interface and a specific bank account defined in Dynamics 365 Business Central. For each bank interface, you can define more than one template. Payment Proposal Templates allow the user to predefine many transfer patterns for a given bank account.
Electronic Banking reduces the time needed to generate transfer orders to the necessary minimum. The process can be fully automated by defining a payment proposal template and using the Suggest Payment function. Suggesting payments allows you to automatically create payment lines for unapplied vendor or customer entries. Thanks to these functions, the role of the user is reduced to indicating the items to be paid and transferring the generated transfer orders to banks in the form of payment proposals. System-suggested transfers can be confirmed, edited or deleted. Bank transfers can be entered automatically or manually.
One mouse click is all you need to generate and send bank transfers to the bank. The file can be sent to the banking system by the user or transferred fully automatically using WebService; then the file is authorized within the banking system.
Electronic Banking allows you to import bank statements from files downloaded from the banking system or download such files by using WebService. The imported bank statement data is further processed within the dedicated data structure in the app. Electronic Banking automatically finds a vendor, customer, or employee account for each respective bank statement item.
With the bank statement import feature, the processes of registering and reconciling bank reports run faster and they are error-free. After defining a bank statement template for a given bank, data exchange between Dynamics 365 Business Central and a given bank becomes easy and fast.
The application also allows you to define priorities and indicate the maximum amount allowed, thus ensuring the automation of the payment process and flexibility in settlements with your employees and contractors. Thus, it enables more effective management of the company’s finances.
Completed payment proposals are stored as read-only archived payment proposals. Archived payment proposals are the source of data for the interfaces (they are used as a basis to generate new files with transfer orders). They are also used in the automatic settlement of bank statements.
All operations related to a bank transfer made within Electronic Banking can be viewed on the Electronic Banking Register page.
The application enables process-flow modelling for electronic banking users. Within the process-flow, you can assign roles to users depending on the process step. Depending on the role, the user can create, accept and book bank statements payment proposals.
MT 100 files (for bank transfers) and MT 940 files (for bank statements) are the standard formats for data exchange between the bank and external systems. Each bank, to a certain extent, is able to adjust the above mentioned standards to their own requirements, which means that final data formats differ between banks. Electronic Banking allows for flexible definition of the format of exported and imported files. Supported formats include MT, XML, CSV and SEPA.
The Electronic Banking Base App and the Electronics Banking Extension PL application (and other local extensions) will be made available in subsequent versions on the dedicated AppSource offer pages. Applications can be purchased by entering an ID of a Microsoft partner (IT.integro or your partner) in the application form during installation.
