Import Bank Statements

Import Bank Statements

By using this function you are able to import messages on crediting and debiting bank account on a specific date. Export it as text file by using for example ProKlik or any other means for electronically transferring funds.

How is the Procedure Preformed?

1. First export text file containing a statement following instructions for electronic funds transfer. (The function supports responding to all those EFT users using the same file structure).

2. Set a file path and name of the file in the Financials | Transactions | Import Bank Statements menu.

3. Click Import. Data are entered in Bank Statement panel. If you have not selected the correct file to be imported, the following error is returned (see Error in file path for file structure of xx!).

4. The appropriate number of document type for reconciling bank statements is found, as long as it was entered in the Import Bank Statements to Document Type field in transactions document type. It is filled with data from line containing general information. According to the number of bank account from which data are imported, the default document type used for reconciling bank statements is found. The following can be found:

• the number of bank account for which you enter data (it is displayed in statement and can be observed from the first field in header)
• the number of the corresponding bank account is found among the default values in document types used in transactions.

The Posting panel displays incomplete data which are in turn displayed in red color.

5. Select a document type from the Financials module (that is, of it were not filled-in automatically in the previous step), using which you can post the imported bank statement.

Having selected the type of document for reconciling bank statements set the parameters used in selecting account for posting, according to the selected criteria. You must have entered the criteria in the Document Type settings of the Financials module. Here you can find criteria using which it is set to which account will the transactions from the statement be posted and under what conditions. Most of the data required for posting are already preset when selecting a document from the Financials module. Lines containing incomplete data are displayed in red. They can be completed in the following way:

• by completing the Document Types settings of Financials module and run import procedure once again,
• by completing data directly in the panel for posting in the Import Bank Statements window.

	Based on the found link document will Pantheon automatically enter subject to close outstanding items. Subject on bank statement lines will be same as the one on source linked document.
	Based on the found link document will Pantheon enter account to close outstanding items. Each source document has three postings. That is why the right choice is customer/supplier account between three of them. Subject account on bank statement lines will be same as the one on source linked document.
	At bank statement import will Pantheon based on found subject (found by subject code or by bank account of subject) enter account from subjects financial details (subjects register). The account number at bank statement import for payment transactions can also be set in Subject type (subject register).

Until you complete all missing data in the statement you will not be able to post it, that is, transfer it to a journal entry! Trying to post a bank statement to journal entry returns the following error (see Posting not possible! Supply missing data in line: XX!).

All checks for basic entries, as set when creating chart of accounts (see Chart of Accounts), are used in transferring data to journal entry in order to reconcile bank statements, just like in posting manually or automatically. The data which must be entered due to settings of Chart of Accounts is colored red. Any missing data cause the above-mentioned error to occur.

Bank accounts of payers and payment beneficiaries are checked in the import procedure for bank statements, according to the data entered in the Subjects register (see LCY accounts). If the name of the subject from the imported file is incomplete or incorrect, the inflow or outflow is added to the same ID (name) of the subject as entered in the Subjects register in order to ensure correct closing. Because of this data on subject in the Bank Statements panel can differ from the ones in the Posting panel.

6. Complete the data in the Posting panel. After all the required data have been entered, just select the function Post from the wizards menu. This way a journal entry for reconciling bank statement is created.

SUBJECT's OUTSTANDING ITEMS ARE NOT checked during import procedure for bank statements. Data from imported statements will be imported regardless of whether the linked document the customer referenced exists, or not. Because of this it is wise that you promptly check in journal entry taskbar all outstanding items, and if necessary close lines containing an incorrect or non corresponding reference whenever importing bank statements.

7. Should you decide to cancel the procedure before creating the journal entry, data might get lost. You are warned about this with the following message: Bank statement not posted! All entries will be discarded! Close the window anyway?.

Data Overview

Data Overview (right mouse button on posting tab of import bank statements) enables us to review how was data from bank statement connected with data from Pantheon.

Custom procedure at bank statement import

We can choose custom Ares procedure at bank statement import. We just need to select Custom procedure option in the Structure field. New field will appear: Procedure No..  Select ARES procedure number in Procedure no. field.  Custom procedure can be used to fill data in Bank Statement field.

Custom procedure can be used for import data shown on Bank Statement tab. Filling the data in the  tab posting is still running through the procedures in the program.

 You can also use custom procedure at bank statements import (not Ares). Right click on button Import enables you this option. Filling the data on tab posting is now rounning trough your custom procedure

Fill  In Departments and Fill In Cost Centers at bank statement import

Departments and cost centers will be filled by default only if settings are turned on in Administration panel. The other way is also to turned on settings "Fill In Departments" and "Fill In Cost Centers" at bank statement import. We found those options on right mouse click as shown bellow:

 Pantheon will remember this settings and fill department and cost centers at next bank statement import. Setting force so that re-click selection (check mark is no longer displayed).

Can we import more than one bank statement in one day? YES.

Pantheon will check if bank statement for the day already exists. If yes, the message appears. By confirming the message, new bank statement can be imported.

If we have only one bank statement per day, click No. Else, same bank statement will be posted again. Option is useful for companies that get more than one bank statement per one day.

Mark Lines if More than One Subject Fits Criteria

Pantheon can find more results (subjects) at bank statement import with same data (TRR for example). If we want such  subjects marked with different color, we should set option Mark Lines if More than One Subject Fits Criteria. That option can be found on right mouse click.

Having switch on setup, Pantheon will colored that records. That means, we have option to change subject on posting with another. Right mouse click will offer us options. We choose correct subject.

Split Payment based on  Merged Payment Order

We can prepare merged payment orders. Such payments are imported from bank statement. Option "Split Payment based on Merged Payment Order" will split payment that previously formed merged payment order. Condition for distributions is: same subject, reference number, purpose code. If the condition match , the program will split the payment into several positions with respect to individual payment orders.

The case presented on picture above has the payment in total amount 924,00 EUR. Pantheon found merged  payment order on the base of subject, same purpose code and reference number, created form invoice 14-360-058 and 14-360-057. That is why it splits payment into two posting positions. 

In Administration Panel Name 2 can be selected to be recorded as subject's name in file sent to bank. That means that also merged payment orders are found on the base on Name2, not on the base of Subject.

This function always splits payment orders based of original payment orders. Meaning that if amount of merged payment order was later changed in bank application, split will create lines with original amount. Example: we merged payment order 21-LI0-000001 for 10,00 EUR and payment order 21-LI0-000002 for 12 EUR. New merged payment order was created for 22 EUR. As such it was imported in bank application. Before payment was proceeded amount was changed to 24 EUR. When importing bank statement for this payment with Split payment option, Pantheon will create two lines on bank statement, one for 10,00 EUR and other for 12,00 EUR. Message will appear:   Amount of merged payment order in Pantheon is not equal to amount on bank statement.

Show  All Data in Posting Tab

Show All Data in Posting Tab can be switched on at Posting tab with right mouse button. With this option switched, also data from Bank Statement tab will be included in Posting tab.

Fill In Missing Bank Accts. when Posting

Fill in missing bank accounts when posting setup can be enabled on the Posting button with the right mouse click. With this setup turned on, Pantheon will add missing bank accounts in subject register if the bank account is not found for the subject in  the register.

Auto - close found documents

If sum of ebit and credit amounts are different from linked document, program compensate sum (saldo) amounts for that specific record.