Uploading Daily Bank Deposit files into AX/AR?

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I'd love to get any information from other users about experience or processes for uploading bank files from customer deposits into AX to help automate cash application?

If you currently do this, how did you set-up rules for the cash application?

Thanks!

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Ludwig Reinhard Microsoft Employee on at

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Hi GSU_MSAX,

For which country do you need this upload?

Do you have some additional information about the file format that is provided by your bank?

Are you using an ISV extension for the upload of the bank files?

etc.

Would be great if you could answer those questions and provide some additional information about your system / system version.

Many thanks and best regards,

Ludwig

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Hello Ludwig,

This is for a US based operation.

I believe we have multiple file type options from our bank or can customize an output report.

We currently use Dynamics AX - I have to admit my overall knowledge in this area is fairly limited, but unfortunately it's not a subject our IT team is well-versed on.

Best

Scott

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Ludwig Reinhard Microsoft Employee on at

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Hello Scott,

For ax2009 I would probably go for an isv solution. Ax2012 has an advanced bank reconciliation functionality build in, which is however not available for ax2009.

Depending on how many bank statements and transactions that you have to process, an isv solution might be the mist efficient solution compared to building something yourself. This is probably something you can discuss with your finance team.

Best regards,

Ludwig

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Thank you for your response Ludwig,

Related to the Ax2012 functionality, I see the concepts about importing bank statements for reconciliation, but is the functionality also just as easy for payment deposits with cash application rules?

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Ludwig Reinhard Microsoft Employee on at

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Hi GSU_MSAX,

The AR payment journal actually has an import functionality that allows you importing electronic payments. You can find this in the payment journal under functions-import payments. The problem with this import is that you need a file that contains your customer payments only. Another issue is how to settle the imported transactions. The AX2009 standard only offers an automatic historical settlement where the oldest open amount is settled first, etc. In AX2012 you can define some automatic settlement methods, which are however not ideal and so far I had no customer using them because they always want to have an individual invoice settlement. That is why we regularly use self-created or ISV bank reconciliation solutions.

Please have a look at the following site to see the AX2012 Features technet.microsoft.com/.../hh545528.aspx They might be useful for a discussion with your finance people and deciding how to overcome this issue (gap).

Best regards,

Ludwig

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