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Dynamics 365 Community / Forums / Microsoft Dynamics AX (Archived) / Payments and bank stat...
Microsoft Dynamics AX (Archived)

Payments and bank statement

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Posted on by Maxim_msk

Hi Colleagues,

i previously has experience only with russian bank payments and now i am trying to understand how this process handled for USA in AX.

I found some manual https://community.dynamics.com/ax/b/axsupport/archive/2017/01/11/dynamics-365-for-operations-import-bank-statement-using-bai2-format

I'm not fully understand such thing: how i imaging process we have payments to vendors so we create payment journal and then generate payments and get payment file and send file to bank. Later bank send as statement which includes both payments to vendors and payments to customer.

On last step in the manual we should see statement here Cash and bank management > Bank statement reconciliation > Bank statements

So i wonder what are next steps to proceed statement? How we or system will separate existent payments to vendors and new payments from customers?

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  • Suggested answer
    Nagendra Varma K Profile Picture
    Nagendra Varma K on at

    HI Maxim_msk,

    By right when you generate payments for Vendor, You will generate File where you will have vendor bank details, amount to be processed. Than Bank would send a response file.

    Where you will find whether payment is approved or rejected. When it comes to customer  unless customer uses the futures Like GIRO or auto-deduction functionalities than only customer will send payments to bank and get an acknowledgment whether transaction is approved or received. This is how normally electronic payments works. The point you are mentioning here that you will get both payments of vendor and customer in file ?

    Is this customer current practice?

    Please throw few more points on what exactly you are looking for.

    Thanks

    Nagendra Varma K

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Maxim_msk,

    In my home country we commonly have this issue that we receive customer and vendor payments in one single file from the bank. The problem with the standard application is that the advanced bank reconciliation functionality expects posted payment transactions. That is, on the one-hand side you typically have your vendor payments that are posted against your bank account. On the other hand side you also have to ensure that your customer payments are already settled for example by posting a customer payment journal. If this is done, then the advanced bank reconciliation functionality just compares the bank transactions from the bank statement file with those that have been posted in AX.

    As most customers are not used to this process, we commonly use add-ons or make adjustments to import and settle bank statements automatically. There are a couple of ISV solutions available for that purpose. Probably take a look at the app source or the MS Partner channel for more details.

    Hope this helps.

    Best regards,

    Ludwig

  • Maxim_msk Profile Picture
    Maxim_msk on at

    Hi Negendra,

    You say bank gives back response file - so there usually included info only on outgoing payments?

    I supposes what, like in Russia, bank gives daily statement in which bank includes both outgoing/incoming payments. Unfortunately i don't have examples for my current American bank as all operations processed inside bank.

  • Maxim_msk Profile Picture
    Maxim_msk on at

    Hi Ludwig,

    have a question, How customer payments come into AX and you have it in customer payment journal?

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Maxim_msk,

    The customer payment journal has an Import functionality that can be found under functions-import payments. To get your payments imported a special file format is required and depending on the file you got from your bank, some modifications might be necessary.

    Best regards,

    Ludwig

  • Suggested answer
    Nagendra Varma K Profile Picture
    Nagendra Varma K on at

    Hi Maxim_msk

    Like Ludwig suggested, If your bank provides with consolidated vendor and customer payments it would be better to find ISV providers, Where AX has different approach. For vendor payments you need import response file from bank separably and for customers separately once payments are posted you automatic bank reconciliation would work.

    Thanks

    Nagendra Varma K

  • Maxim_msk Profile Picture
    Maxim_msk on at

    Hi Ludwig, in method of payment on tab Import i see very poor list of formats

    JBA

    Bankgirot MAX

    - it's correct or something missing in my AX configuration?

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at

    Hi Maxim_msk,

    If I select functions-import payments, then I can select from the available methods of payments. Those methods are linked to the file formats that you mentioned for JP and SE. However, if you activate the Generic electronic reporting (GER) parameter and provided that you have imported the GER file formats from LCS you can make use of other formats or even create your own. Please have a look at the following and related sites to get an overview of GER (docs.microsoft.com/.../general-electronic-reporting)

    Best regards,

    Ludwig

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