Sage X3 provides function to import statements from a file saved on your server or computer. The setup involves technical settings that should be done very carefully.
The import settings are defined in the Bank import settings function (BSIIMPPAR). You cannot change them here. After you enter the code for the Bank import settings, the remaining fields populate based on these settings. These settings are also used for the matching process and for paying invoices.
Navigate to A/P-A/R accounting > Bank transactions > Advanced bank statement import > Bank transactions import
Click OK to start the import and upload a file from your computer or a server location. A log file displays when the import is complete. For each statement contained in the file, there is a dedicated statement entry. A warning message displays if a file with the same name is imported again.
After importing the statement, use the Bank transaction management function (BSIIMP) to process the statements.
Below are the five functions involved in Bank transactions import.
1. Import transactions
This function imports bank transactions in various electronic formats from one or several bank statement files. These files have been obtained directly from your bank or exported from an online banking tool and saved to your workstation or server. The bank transaction import function (BSIIMPORT) imports these files from their saved location for matching and processing
2. Managing imports and matching
Next, you need to manage how you import and match transactions.
An imported statement can have one of the following statuses:
Not matched: Initial status after import, no matching has been performed.
Matched: Matching or partial matching has been performed for the statement.
Validated: Payments have been generated and the statement is read-only.
Reconcile: The bank statement was imported with Reconciliation only as the flow type. The transaction data has been copied to the Bank statement reconciliation function (RAPBAN). The statement here is read-only.
3. Matching transactions to open items or accounts
This step only applies to the Standard flow type. The imported transactions need to be reviewed and matched to open items or other accounts such as a G/L account, BP account, or a suspense account. Transactions can also be matched to existing payments.
Matching is done in the Process bank transactions screen. You can match items automatically or manually.
Automatic matching: From the Bank transaction management screen, click Start matching to run the process on all unmatched statements in the grid.
Manual matching: From the Action icon menu at the beginning of a line, select Process bank transactions. This opens a new screen where you can review and edit results from automatic matching, perform manual matching and selection, and manual entry.
4. Validating a statement
This step only applies to the Standard flow type. Validating is the final step in the bank import process and generates a payment for transactions matched to open items or BP/GL accounts. After you have validated the statement, you can no longer modify the transactions. The validation is always performed for the entire current statement and depends on the matching status:
5. Manually completing a transaction
This step only applies to the Standard flow type. In certain cases, open items associated with a bank statement transaction might have been settled outside the bank statement import process. In other words, a payment transaction included in the bank statement already exists as a payment.
Hope this blog helps you in understanding Advance bank statement import in detail.