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Understanding CAMT files

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Posted on by PeterKRB 97

Good morning community,

I have a broader question around CAMT files, more specifically CAMT.053 & CAMT.054.

In summary, the CAMT.053 is the previous day bank statement and provides detailed information on all entries booked to the account for the previous day. On the other hand, the camt.054 – Bank to Customer Debit / Credit Notification, provides the customer with specific account debit and account credit transactions. My questions are:

  • Do you think that by importing only the bank statement (053), the information stored in it would be enough to register all customer/vendor transactions? I see that in the structure of the 053, there are XML tags to identify bank transaction codes, payment references etc.
  • Why would I need the CAMT.054 for? What additional information would it bring?
  • Are there cases where the 054 somehow "complements" the 053, e.g. a summary entry is registered in 053 but the details are stored in the 054?

Many thanks for your answers,

Peter

Categories:
Administration and Setup
Financial Management
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  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Understanding CAMT files

    Hi Peter,

    I think the camt.053 format should be ok to do that.

    This format is also supported by the MS standard ER file formats that we have available.

    Yet, I think the main issue is with your banking institutions and the file format they provide you with.

    Do you have a contact into your banking institution and can find out what file formats they usually deliver to you?

    Best regards,

    Ludwig

  • PeterKRB Profile Picture
    PeterKRB 97 on at
    RE: Understanding CAMT files

    Thank you Ludwig,

    By the first question I mean the following: is the import of CAMT.053 enough to record all the incoming/outgoing transactions of a bank account that I can later relate to open cust/vend transactions? If it is, why would I import the CAMT.054 for?

    I will have a look at your link, thanks!

    Peter

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Understanding CAMT files

    Hello Peter,

    For No1: Can you elaborate what you mean by saying that you want to register all customer/vendor transactions?

    For the other questions, I would recommend having a look at this website:

    www.hettwer-beratung.de/.../

    It's available in German language only but you can make use of online translation tools to get the information in your language.

    It provides a lot of details and background information.

    Best regards,

    Ludwig

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