When you are submitting a standard swift file format, such as MT940s, Duco will extract opening and closing balances as a matter of course.
Duco will also try to identify the balance in a generic file. However, for CSV files, there is no standard way of including balances with your transactions - these could be at the start of the file, at the end of the file, or interspersed with the transactions. As a result, you may need to instruct how to identify a particular account's balance. Depending on the accounts you have set up in the process, you may also need to tell the account and/or the currency to which a particular balance belongs to.
***Please note that this is specifically for CSV files. For other file types, please consult with you Customer Success Manager.
You are able to achieve this by specifying a Regular Expression which instructs Duco how to find the balance rows within the upload file. For a multi-account process, you will also want your Regular Expression to extract the Account identifiers, and also the currency if required.
You can also extract the balance date if it is available. The opening balance date will be used as the statement start date, and closing balance date will be used as the statement end date.
*This step may require assistance from your internal IT resource. However, Duco’s Customer Success team are always available to offer support for this onboarding step.
Once a balance has been correctly identified, tick the Enable balance box and then select Save.
Calculate missing balances
Sometimes your files may only contain closing balances. In those circumstances, Duco calculates the opening balance for you (by subtracting all of the cash movements from the closing balance). This will highlight balance inconsistencies when we compare the calculated opening with the previously closing, which could be caused by missing statements.
Of course, your files may also only contain opening balances. In that case, we calculate the closing balance for you instead.