Import your bank statements quickly and easily with BORA SWIFT Statement
Aug242022
MT 940 is an international format for electronic (daily) account statements used by the SWIFT network (the interbank communication standard for the electronic exchange of account statements). The movements on the company’s bank accounts are provided daily as a bank statement in the SWIFT formatMT940.Each file holds an opening and closing balance and detailed information on all the transactions between them.
Bank statements provided by the banks in the SWIFT MT940 format can be imported into the BORA SWIFT Statement module automatically, with one click.
To avoid errors and save valuable time when entering bank statements, use the new BORA SWIFT Statement import module, which enables communication between the bank / bank accounts and your ERP system!
- The new module removes manual data entry by the accountant
- Information from the bank statement is not retyped into the system by hand
- The system analyses the imported bank statement and on this basis automatically fills in data such as:payment ground, payer, recipient
- The criteria and templates are defined in advance by the system user (the accountant)
- When the statement is activated, all transactions are posted
- The feature is very useful for companies with many bank accounts and a large number of transactions
- As a result of all this automation, the module helps keep the information on the company’s receivables and payables always up to date