Reconciling cash accounts
FA supports reconciling cash accounts with MT940 and CAMT.053 account statements. The account number, date and closing balance found in the account statement are compared against the cash balance for the corresponding account in FA.
Reconciling cash accounts with CAMT.053
CAMT.053 is a file created daily by your custodian or a bank. It contains the opening and closing balances of your nominee cash accounts.
Pre-requisites
Enable cash account reconciliation with CAMT.053 in FA Back. To do this, go to Tools → Administration → Data aggregation → Reconciliation, and select “Reconcile cash accounts with CAMT.053”.
Importing
Manual file upload
To upload the file, go to Tools → Import file → Payment material. Select "CAMT053", choose the file and confirm the upload.
Automatic file upload
Set up an integration with your custodian(s), see Bank and custody connections for more information.
Read the result of the reconciliation
After the CAMT.053 file is processed by the FA system, you can see the reconciliation result in the Tasks view. Filter the view by “All tasks” and “All completed tasks”.
If there were mismatches in the custodian and FA data, you can find a task with the title “Automatic <reconciliation date>: Errors in reconciliation: cash balances” in "All tasks".
If no mismatches are found, you can find a task with the title “Automatic <reconciliation date>: No errors in reconciliation: cash balances” in “All completed tasks”.
Reconciling cash accounts with MT940
In order to import your account statement file in MT940 format, go to Tools → Import file → Payment material... Select Bank statement (MT940) from the list, upload your file by using Choose file and Upload buttons, and finally Confirm upload.
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Your reconciliation result can soon be found in the Tasks view or the Reconciliation Dashboard.