EFFICIENTLY BALANCING BANK STATEMENTS IN DYNAMICS 365 / AX
THE AUTOMATIC BANK AND OPEN ITEMS CLEARING CLEARS BANK STATEMENTS AND PAYMENT ADVICE NOTES AUTOMATICALLY AGAINST OPEN ITEMS
The challenge
Companies create a large number of orders and invoices every week. All incoming payments and bank statement items need to be cleared manually and, if necessary, reconciled with payment advice notes. For the employees in the financial accounting department, this is time-intensive work every day not be underestimated. Furthermore, clearing open items is a monotonous and therefore highly error-prone activity.
The solution
The Bank Automation Suite is an add-on for Microsoft Dynamics AX and Microsoft Dynamics 365 developed by Inway Systems and has been successfully used by customers for over 10 years. Using key fields such as transfer subject, customer/supplier number, business transaction code and amount, etc., the add-on finds open items independently and reliably. Once installed, this self-learning add-on saves you time, work and money.
How the Bank Automation Suite works:
- Bank statements are read in the traditional formats MT940, CAMT.053, BAI2 and formats from other payment service providers such as Paypal.
- Open items are cleared with a 95% hit rate.
- Recurring postings or debit memos, such as rent, are posted directly to the G/L accounts.
- Intercompany postings are carried out for group-wide clearing. Cross-client processing of account statements and cross-client clearing can be carried out automatically as well.
Versions history
We take our customers' needs seriously. That's why we are constantly developing our Bank Automation Suite - with and, above all, for our customers. Would you like to get an overview of how our Bank Automation Suite has developed over the last few years? Then simply download our version history.
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GrΓΌnbeck Wasseraufbereitung GmbH selected and got to know Inway Systems GmbH as a competent partner for the cash and bank management module while implementing the Microsoft Dynamics 365 FO ERP system.
The Bank Automation Suite enables the efficient processing of account statements and payment advice notes. For example, the Bank Automation Suite add-on from Inway Systems GmbH can import PDF format payment notifications and formulate a variety of specific recognition rules for automated reconciliation and posting of account statements in D365 FO.
The Inway D365 module, combined with Inway Systems GmbHβs direct, expert and goal-oriented cooperation, was the baseline for the increase in efficiency in the cash and bank management process of GrΓΌnbeck Wasseraufbereitung GmbH with Microsoft Dynamics 365.
Eliminate manual reconciliation work and let your employees turn their attention to more advanced topics.
95% of all incoming payments are successfully allocated and reconciled.
Implementation can be done within a few days with little effort.
Bank Automation Suite is a Microsoft Preferred Solution
Our Bank Automation Suite is also available in the Microsoft AppSource . The add-on has been awarded as Microsoft Preferred Solution by Microsoft experts.
Will the Bank Automation Suite pay off in my company?
Find out:
With our ROI calculator.
Just enter three things into our Excel-based ROI calculator:
1. How many invoices do you process per week?
2. How many clients do you have?
3. What is the hourly wage in your accounting department?
- For the On-premise version of the Bank Automation Suite there are one-time license costs; price on request.
- The annual maintenance is 17% of the list price.
- One-time costs are added for each additional client.
- For the cloud version of the Bank Automation Suite, you sign up for a subscription with a cost of 553,00 β¬ per month.
- The subscription can be cancelled annually.
- For each additional client, 71,00 β¬ per month is added.
- For the cloud version of the Bank Automation Suite, you sign up for a subscription with a cost of 663,60 β¬ per month.
- The subscription can be cancelled on a monthly basis.
- For each additional client, 85,20 β¬ per month is added.