Extended Banking has been developed by Focus Enterprise Solutions and provides additional features that are integrated into Dynamics 365 Finance and Supply Chain Management. Transactions are read in, analysed, and processed automatically. Because your finance department only has to look at any transactions that stand out, this saves your organization a considerable amount of time!
Great user acceptance
Connection to the same source data
Get an insight instantly
What is Extended Banking
Extended Banking has been developed by Focus Enterprise Solutions and provides additional features that are integrated into Dynamics 365 Finance and Supply Chain Management. Transactions are read, analysed, and processed, without you needing to lift a finger. Efficient and extremely accurate. Users can clearly see which transactions have been automatically read and which ones still need to be processed manually using colour codes you can modify. You can set up different types of search values to make automatic matching as efficient as possible. Because your finance department only has to look at any transactions that stand out, this saves your organization a considerable amount of time!
Get ready for the future
The world doesn’t stop turning. That’s why Extended Banking is constantly evolving: we regularly launch a new release that can be easily installed. Prior to each new release, we e-mail the release notes to our customers and welcome your feedback. That’s how we develop the tool hand in hand.
For every organization
The benefits of Extended Banking can be enjoyed by any organization using Dynamics 365 Finance or Supply Chain Management. You can purchase Extended Banking even if you’re not a Focus Enterprise Solutions customer yet. Integration with your existing Dynamics 365 environment is seamless. Extended Banking is known as an Independent Software Vendor (ISV) solution, which can also be made available to non-Focus Enterprise Solutions customers. Please get in touch with us for more information.
“Extended Banking helps us allocate translations quickly and accurately. This saves us a lot of work, and there’s little risk of data being entered incorrectly.”
Twan Willems – Controller at KWBN
Brochure Extended Banking
For organizations that process large volumes of transactions or deal with peak demand processing bank statements is a returning process that takes a lot of time.
Extended Banking enables you to streamline payments in Microsoft Dynamics 365. efficiently and accurately, resulting in increased productivity and substantial time savings for your financial administration.
Why Extended Banking?
Is your organization already working with Dynamics 365 Finance or Dynamics 365 Supply Chain Management? Then add Extended Banking to optimize your processes further.
Processing bank transactions manually is monotonous and repetitive, but at the same time very precise work. Therefore, the likelihood of errors is high. Extended Banking automates the processing of repetitive transactions and therefore minimizes the amount of transactions requiring manual processing. As a result, the processing is more diligent and this reduces errors.
Extended Banking provides the ability to perform all processing steps as batches. This further automates the entirety of processing bank statements: you then only have to set up the steps once and then the system takes care of the processing.
Get an insight instantly
As soon as a bank transaction has been read, you will see straight away how many transactions have been processed automatically and which ones have yet to be checked or need to be processed manually.
Great user acceptance
Because Extended Banking is integrated into Dynamics 365, users do not have to learn how to use a new program. This means that acceptance is high and the learning curve is small.
Connection to the same source data
Extended Banking is integrated into Dynamics 365’s standard financial functions, so that Extended Banking processed mutations can be seen immediately in the source data.
By using adjustable colours and scores, you control how transactions are qualified by the matching process. This allows the user to see at a glance which transactions can be processed automatically without manual intervention and which transactions still need to be checked.
FAQ Extended Banking
Do you have a question? We are here to answer it. If you don’t find your question here, please contact us.
Is the Extended Banking solution integrated in Dynamics 365 or does this solution work stand-alone?
Extended Banking is fully integrated in Dynamics 365 Finance & Supply Chain Management and works with the familiar user interface.
Which bank statement formats can be processed by Extended Banking?
Extended Banking offers the possibility to process MT940 and CAMT.053 as standard. Focus Enterprise Solutions can create a plug-in for other file formats or use formats that are standard supported by Microsoft within the Advanced Bank Reconciliation module Advanced Bank Reconciliation module
At my bank it is not possible to download bank statement format MT940 or CAMT.053. Can other formats be processed with Extended Banking?
Yes, so-called plugins for other bank statement formats can be developed by Focus Enterprise Solutions. worden ontwikkeld. Formats that are standard supported by Microsoft within the Advanced Bank Reconciliation module can also be used.
We have several bank accounts at the bank that we download consolidated bank statements for. Can these also be processed?
Consolidated bank statements can also be processed by Extended Banking without any problems. There is an automatic distribution over company accounts if applicable.
Can electronic bank statements be imported automatically, without manual intervention?
Yes, the automatic import of bank statements from Azure can be arranged within Extended Banking via batch processing.
Can transactions on electronic bank statements be processed and allocated fully automatically?
Yes, using flexibly configurable search criteria, bank statement transactions can be assigned and processed fully automatically.
How are matched transactions automatically evaluated by the user?
The total score obtained results in a colour, in the form of a ‘traffic light analysis’ that can be set up in the parameters. Detailed match results of each individual search value are stored and available for analysis by the user.
Can Extended Banking process bank statements autonomously, without user intervention?
Extended banking can be set up as an event-driven system, based on batch processes, where the user only has to pay attention to the non-automatically matched transactions.
How does the processing of non-automatically matched transactions take place?
Extended Banking has a specific overview screen, in which these transactions can easily be assigned and processed by multiple users at the same time.
How does the financial processing of the transactions take place in the bank file? Does Extended Banking use a suspense account from which the settlement is done?
With Extended Banking, bank statements are always processed via a suspense account. Immediately after the import, the bank is booked, matching is done from the suspense account.
Can Extended Banking recognise transactions from iDeal / Paypal / Klarna / Afterpay / etc., so that they can be settled automatically?
There is a specific search value available that can match customer transactions based on information other than the invoice number. This enables recognition of such transactions.
Can Extended Banking recognise outgoing payments on the account ‘Payments in transit’ ?
Yes, there is a specific search value available that can automatically match these based on the unique ID provided by the bank.
Are there possibilities for recognising customer numbers, even if they come from a subsystem and are unequal to customer numbers in Dynamics 365?
Yes, there is a search value available that can recognise ‘external’ customer numbers and automatically link them to customer numbers in Dynamics 365 Finance en Supply Chain Management.
We receive bulk payments on the bank statement. We receive the specification of these payments separately. Can Extended Banking do the detailed settlement?
Processing external specifications is one of the possibilities of Extended Banking. Detailed settlement of bulk payments does not have to be done manually.
We work with large numbers of direct debits for the invoicing of our customers. There are also a lot of reversals as a result of this. How are these processed?
The processing of reversals is part of the Reversals pack of Extended Banking. Recognition and processing, including reopening the invoice, takes place automatically.
Got any questions about Extended Banking?
Want to know how Extended Banking can help streamline your financial processes? Please get in touch with us! Our experts at Focus Enterprise Solutions will be happy to help you discover the possibilities.
FOCUS ENTERPRISE SOLUTIONS:
Your Microsoft Dynamics 365 partner
Focus Enterprise Solutions is your strategic partner for everything to do with Dynamics 365 Finance, Supply Chain Management and Extended Banking. From deployment to management, we help SMEs across different industries get the most out of their ERP environment. As your proactive partner, we can help your organization move forward – both now and in the years to come.
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