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Can D365 now handle ISO bank files?

  • 1.  Can D365 now handle ISO bank files?

    SILVER CONTRIBUTOR
    Posted 27 days ago
    Edited by Travis Kurtz 26 days ago
    I want to look into whether or not D365 can now handle ISO bank files. I believe we went to our current ISV because D365 could not produce the ISO bank files. This would be a real hard dollar cost savings.

    I'm referring to transactional files.  I am interested in creating ISO format files to send to the bank for our daily vendor ACHs and customer drafts.



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    Travis Kurtz
    Mansfield Oil Company
    Gainesville GA
    ------------------------------
    Academy - Online Interactive Learning from Experts


  • 2.  RE: Can D365 now handle ISO bank files?

    SILVER CONTRIBUTOR
    Posted 26 days ago
    Edited by Neill Riordan 26 days ago
    Hello Travis,

    You are correct F&O can import bank statements through configuration in the Cash and Bank module and Electronic reporting.  There are some things to note however;

    Most banks do not stick to the ISO file structure and see it more of a framework so you may have to make some amendments to the default.  You do not need a developer for this but someone with technical understanding does need to do it.

    There is a good chance you have an ISV not for this part though and more for the bank reconciliation which to be honest still is not normally fit for purpose in most organisations.  You could also have some treasury functions being carried out as well.

    I would look at all the functions from the ISV and then do a analysis across the features just to make sure switching for the bank import does not mean you will then miss out on some other functionality

    ------------------------------
    Neill Riordan
    Head of F&O
    KPMG Microsoft Business Solutions
    UK
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 3.  RE: Can D365 now handle ISO bank files?

    SILVER CONTRIBUTOR
    Posted 26 days ago
    Thanks for the response Neill.

    I am not looking to import bank statements rather I am interested in creating ISO format files to send to the bank for our daily vendor ACHs and customer drafts.

    Thanks



    ------------------------------
    Travis Kurtz
    Mansfield Oil Company
    Gainesville GA
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 4.  RE: Can D365 now handle ISO bank files?

    TOP CONTRIBUTOR
    Posted 26 days ago
    Hi, are you looking for ISO for wire transfers/payments or for bank reconciliation?  I agree with Neill in that usually the purpose of the ISV is to provide additional functionality (rules and transaction creation) for bank reconciliation.  For payments, you would have the same issue we have with other files generated out of the box in that the files go to the downloads folder, although some you can redirect by doing a 'Save As'.  There is no automation and it is less secure than an ISV usually.

    ------------------------------
    Shirley Adams
    Solution Architect
    AKA Enterprise Solutions
    New York NY
    ------------------------------

    Academy - Online Interactive Learning from Experts


  • 5.  RE: Can D365 now handle ISO bank files?

    TOP CONTRIBUTOR
    Posted 26 days ago
    To be clear, we do have it setup and working at a client (you need to use electronic reporting but there are instructions on how to do it).  Make sure you have the latest version as we found that if you try to do it a second time after testing once, there is a bug that is resolved now.

    https://docs.microsoft.com/en-us/dynamics365/finance/localizations/tasks/import-iso20022-direct-debit-configuration

    ------------------------------
    Shirley Adams
    Solution Architect
    AKA Enterprise Solutions
    New York NY
    ------------------------------

    Academy - Online Interactive Learning from Experts


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