My customer, who is based in the EU, wants to automate the settlement of their customer payments. As far as I know, the most common way to settle payments is by using CAMT.054 files. However, my customer would prefer to use CAMT.053 files. From what I understand, CAMT.053 is primarily used for bank reconciliation in the cash and bank management module. I would like to know if it is possible to settle customer payments using CAMT.053 or if CAMT.054 is the applicable standard.
Tks a lot for input!
An additional question to your answer. You are writing following: "Once the files are imported, you can match the transactions against customer payments using the bank reconciliation function in Cash and Bank Management"
Does the reconciliation trigger the posting of customer payments? NAd therefore trigger the settlment? Or is it the other way around?
hi
While CAMT.054 is the most commonly used standard for payment settlement, it is possible to use CAMT.053 files for this purpose as well. CAMT.053 files contain information about cash transactions, including incoming and outgoing payments, which can be used to reconcile bank accounts and settle customer payments.
In Dynamics 365 Finance, you can configure the Cash and Bank Management module to import CAMT.053 files and reconcile them against customer payments. To do so, you will need to set up bank accounts and import the CAMT.053 files into the system. Once the files are imported, you can match the transactions against customer payments using the bank reconciliation function in Cash and Bank Management.
Keep in mind that not all banks support CAMT.053 files for payment settlement, so it is important to check with your customer's bank to ensure that this format is supported. If CAMT.053 files are not supported, CAMT.054 may be the only option for payment settlement.
DAniele
Hi Elin,
Since many structures in the three SEPA message types SEPA CAMT.052, SEPA CAMT.053 and SEPA CAMT.054 are almost identical. The CAMT.054 file is applicable for customer payment, you can check the link below for how to import the file.
Import ISO20022 files - Finance | Dynamics 365 | Microsoft Learn
The link below provides details on the differences between the SEPA CAMT.053 file and the SEPA CAMT.054 file.
SEPA XML Format - SEPA CAMT.053 Bank To Customer Statement - Hettwer UnternehmensBeratung GmbH (hettwer-beratung.de)
The Difference Between a camt.052, camt.053 and camt.054 (sepaforcorporates.com)
Best Regards,
Hana
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