Cash reconciliations typically require both transactional and balance level data. This data is often provided in various formats and structures:
- The information that constitutes a Cash Statement (e.g statement of activity for a particular Account) is provided as:
- Transactions in one file and Balances in a separate file
- Transactions and Balances in the same file
- Transactions and Balances in the same file with additional transactions in a separate file
- MT950 SWIFT messages
- MT940 SWIFT messages
- The information that constitutes a side of the reconciliation (e.g all the Statement side data from various counterparties) can also be a mix of the different formats (some accounts MT940 SWIFT some accounts Transactions and balances in separate files some account Transactions and Balances in the same file)
- The Transaction and Balance data requires some form of enrichment and transformation (e.g identification of a Currency Code, transforming a debit/credited marked balance to a signed balance, filtering out of data from other business units)
With Data Prep users can feed data into Duco Cash processes in a way that supports the above scenarios, allowing you to consolidate, separate and enrich your data to then be cleanly fed into a Cash process. Read through our different use cases to see the optimal configuration for your requirements.