Telebanking

Based on both sales and purchase transactions, telebanking enables you to generate your payments and collections and interchange them with your bank electronically. This includes the export of payment and collection data that need to be forwarded to the bank as well as the import of bank statements sent to you by the bank.

Transactions

In general, all financial interactions with vendors and customers are done through either purchase or sales invoices and credit memos. As soon as these transactions have been registered and posted, payments or collections can be carried out by your company.

Proposals

Based on vendor and customer ledger entries, telebanking enables you to generate payment and collection proposals. This can be done for any bank that has been set up for your company. Both domestic and foreign payments and collections are possible.

You can set up Business Central to combine payments to or collections from the same bank account automatically.

When a proposal has been agreed upon, it should be processed into a payment history.

Note

In general, for any open vendor and customer ledger entries, a proposal can be generated if it meets a number of criteria. For more information, see Create Proposals.

Payment Histories

A payment history is nothing more than a proposal except for the fact that data on a payment history cannot be modified. The payment or collection data is ready to be exported and forwarded to the bank.

For more information, see Create and Export Payment History.

Bank Statements

For all your financial interactions through your bank, the bank can send you electronic bank statements. These statements can be imported into the Bank/Giro Journals. If you want, you can have Business Central automatically reconcile these statements during this import process and determine whether a statement can be applied to open ledger entries for the relevant vendor/customer.

For more information, see Import and Reconcile Bank Statements.

Exchange Protocols

For both exporting and importing, a number of protocols have been defined. Business Central supports the following protocols:

  • BTL91 (export). This cross-border protocol is no longer accepted in the Netherlands as of May 1st 2019. This protocol is replaced by the Generic Payment File protocol.
  • BBV (export)
  • PAYMUL (export)
  • Generic Payment File (export). Can be used for cross-border Non-EUR transfers.
  • Rabobank mut.asc (import)
  • Rabobank vvmut.asc (import)
  • Rabobank ASCII (import)
  • SEPA CAMT

See Also

Invoice Sales
Record Purchases
Create Proposals
Create and Export Payment History