Applies to Product - Dynamics 365 Finance
What’s happening?
Customers are inquiring about the advanced bank reconciliation process, specifically regarding the transition from existing formats to new formats in 2025. There are concerns about clients with bank accounts in different countries that are not supported by the current routing number types, including issues related to IBAN numbers.
Reason:
The current routing number types available in the system do not support all countries for clients with multiple bank accounts. The transition to new formats, such as CAMT.53, is being implemented globally by 2025, but there are questions about how this will affect accounts that do not support IBAN numbers.
Resolution:
- It has been confirmed that the MT940 format is being replaced by CAMT.53 and CAMT.54 formats during 2025, which can be used with the IBAN number. This change includes information about the account, country, and bank, making the routing number redundant.
- If a country uses an IBAN number, there is no need for routing numbers, sort codes, or branch numbers. All accounts should transition to using the new CAMT.53 format instead.
- For clients with bank accounts that do not support IBAN numbers, the only current option to add a routing number type is through extension, as it is an enum field and extensible.
- For further customization or assistance with the Electronic Reporting method for bank statement imports, refer to the documentation on setting up advanced bank reconciliation import by using Electronic Reporting in Dynamics 365.