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Creating and Maintaining Accurate Banking Structures

Creating and Maintaining Accurate Banking Structures. Terri Sullivan. Handling Your Bank Information. Keeping track of the bank setup is an important part of using SmartAnalysis.

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Creating and Maintaining Accurate Banking Structures

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  1. Creating and Maintaining Accurate Banking Structures Terri Sullivan

  2. Handling Your Bank Information • Keeping track of the bank setup is an important part of using SmartAnalysis. • From small banks to large banks, domestic banks to foreign banks, SmartAnalysis can be your repository of information. • From importing signers to tracking your negotiated fees, this information is at your fingertips in the Bank Information module. • A well-maintained bank setup allows SmartAnalysis users to produce the most consistently accurate evaluations of bank fee information.

  3. Banking Structure • Contains the hierarchical information about a bank: • Relationships • Accounts • Statements • Under each bank are folders containing relationship accounts and statements. • Under Relationships are negotiated fees, closed accounts and active detail accounts. • Under Statements is a listing of all bank statements received.

  4. Importing Banking Information Using an 822 file, a TWIST xml file or a CSV file, SmartAnalysis imports the information into an easy to navigate database.

  5. Let’s start at the beginning: Importing • SmartAnalysis allows users to import the following formats: • 822 • TWIST XML • CSV – Service charges • ‘Produce complete baseline from this statement’ is ONLY selected the first time a file is imported for a bank not shown in your Banking Structure.

  6. Importing a file for a new bank • When users import a file for a bank which is not set up in the banking structure, users need to select ‘Produce complete baseline from this statement’. • Producing the complete baseline will create: • The Bank • Name and ABA/SWIFT NUMBER • Incoming Balance codes • Contacts • Address • Relationship accounts • Name and account number • Negotiated fees (based on the pricing contained in the file) • Detail accounts • Name and account number

  7. 822 Files • The 822 file format is an industry standard for electronic bank statements provided by your bank each statement cycle. • 822’s have various format versions and elective options within the version. Currently the preferred version is 4010 format. • This data file contains the complete bank, account and relationship information along with listed balances and service transactions used per month.

  8. Technical Components of an 822 file There are three levels to a 822 transaction set: • Interchange Control Envelope (ISA/IEA): The largest envelope, this segment contains addressing, security and control information. • Functional Group Envelope (GS/GE): The inner envelope encloses a group of similar transaction sets. • Transaction Set Information (ST/SE): The business document that is the electronic data file equivalent of one or more account analysis statements. • A transmission of account analysis data must always start with ISA and GS segments and conclude with GE and IEA segments.

  9. A Raw 822 File

  10. Unwrapping an 822 file • Copy file into Word • Replace – Special –Paragraph Mark with “blank” • Replace - \ with Special –Manual Line Break

  11. ISA*00* *00* *01*006962435 *01*987123487 *100624*0951*U*00301*000084923*0*P*~GS*AA*006962435*987123487*20100624*095147*84923*X*004010ST*822*84923BGN*05*00000032568173*20100624*095147*LTDTM*150*20100201DTM*151*20100228N1*BK*WELLS FARGO BANK, N.A.*13*121000248N3*PO BOX 63020N4*SAN FRANCISCO*CA*94163PER*AA*MACMATH, JENNIFER*TE*949-251-4334RTE*1*1RTE*2*0*0RTE*UF*0DTM*151*20100228ENT*1N1*AO*TEST CUSTOMERN3*TEST STATEMENT -- DO NOT MAILN3*TEST STATEMENT -- DO NOT MAILN4*GREAT MILLS*MD*206342585ACT*00000032568173*OVERALL SUMMARY*13*121000248LX*1BLN*TE*000420*105.79BLN*TE*000240*0BLN*TE*000330*0BLN*TE*000010*10579.01BLN*TE*000040*10473.22BLN*TE*000000*10579.01BLN*TE*000400*0BLN*TE*000030*0BLN*TE*000350*2251.3BLN*TE*000020*0BLN*TE*000013*0 Unwrapped 822 File

  12. Unwrapped Test File – Service Lines SER*TB*150511CUS015*361956.35*595.00*7.00*85*CASHIER'S CHECKS $7.00 EACH**A~ SER*TB*150514CUS104*30416.50*50.00*5.00*10.00*MONEY ORDER $5.00/EACH**A~ SER*TB*010400AAA001*15208.25*25.00*25.00*1.00*ACCOUNT MAINTENANCE $25.00/ACCOUNT**A~ SER*TB*000230AAA012*2313.63*3.8033*0.015*253.55*FDIC INS/FICO $.015/$1000**B~ SER*TB*010400AAA100*18249.90*30.00*30.00*1.00*ELECTRONIC ACCT ANALYSIS 822 $30.00/MONTH**B~ SER*TB*010402AAA103*12166.60*20.00*20.00*1.00*822 TRANSMISSION $20.00/TRANS**B~ SER*TB*100600ARP004*33458.15*55.00*55.00*1.00*DEPOSIT RECONCILEMENT - BASE $55 ACCT/MONTH**B~ SER*TB*100610ARP041*123643.07*203.25*0.15*1355.00*DEPOSIT RECONCILEMENT - ITEM $.15 PER DEP**B~ SER*TB*151342ARP108*36499.80*60.00*6.00*10.00*PHOTOCOPY SERVICE $6.00 EACH**B~ • SER* -Functional Identifier code • TB* -AFP Standard Identifier(sometime TE which signifies “only” AFP Codes, normally shown on balances) • 150511CUS015*- AFP Code (first 6 digits) & Bank Code • 361956.35* - CompensatingBalance(amount that must be maintained to offset service charges) • 595.00* - Total Service Charge • 7.00* - Per Unit Charge • 85* - Number of Units • CASHIER'S CHECKS $7.00 EACH* - Service Charge Description • * - Fee Type Identifier(if blank = P*Q; THP –Threshold pricing etc..) • A - Payment Method Code( A = common charge; B= Compensation By Balance etc..) • ~ - End of line indicator

  13. TWIST XML FORMAT • The global electronic billing statement, known as TWIST “BSB,” is now an international standard under ISO 20022. The BSB can provide your international bank relationships with a complete standardized picture, analysis and electronic billing statements. • This data file contains the complete bank, account and relationship information along with conversion rates and service transactions used per month.

  14. Sample TWIST file <?xml version="1.0" encoding="utf-8"?> <Twist xmlns="http://www.twiststandards.org/3.1/ElectronicBilling" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.twiststandards.org/3.1/ElectronicBilling TWIST3.1.Billing.TwistMsgElectronicBilling.200609.xsd" xsi:type="ElectronicBillingMsg"> <header> <messageIdmessageIdScheme="Electronic Billing"/> <inReplyTomessageIdScheme="Statement"/> <sentBy id="13021000089"> <typedPartyId> <partyId>021000089</partyId> <partyIdType>13</partyIdType> </typedPartyId> <partyName>Citigroup Inc.</partyName> </sentBy> <creationTimestamp>2013-02-25T12:00:00</creationTimestamp> <expiryTimestamp>2013-02-25T12:00:00</expiryTimestamp> </header>

  15. Sample TWIST file <account> <accountLevel>Detail</accountLevel> <bban>91173</bban> <statementStartDate>2013-01-01</statementStartDate> <statementEndDate>2013-01-31</statementEndDate> <statementProductionDate>2013-02-25</statementProductionDate> <statementStatus>Original</statementStatus> …………………………… <currencyTranslation> <originalCurrency>USD</originalCurrency> <targetCurrency>USD</targetCurrency> <translationValue>1.000</translationValue> </currencyTranslation> <accountName>CHESSYS</accountName>

  16. Service Charges TWIST XML file <service> <bankServiceID>30007</bankServiceID> <subServiceQualifier>MutallyDefined</subServiceQualifier> <subServiceCode>30007</subServiceCode> <serviceDescription>Book Transfers - Automated</serviceDescription> <volume>1</volume> <pricingCurrencyCode>EUR</pricingCurrencyCode> <unitPrice> <amount>1</amount> <currency>EUR</currency> </unitPrice> <priceMethod>UnitPriced</priceMethod> <paymentMethod>HardCharge</paymentMethod> <originalChargePrice> <amount>1</amount> <currency>EUR</currency> </originalChargePrice> <originalChargeSettlement> <amount>1.42832</amount> <currency>USD</currency>

  17. CSV service charge import • Format specific CSV file can be used to import service charges. This file can be used in cases where no 822 file is available. • Example of required format:

  18. Creating Banks and Accounts Manually When 822 files or TWIST files are unavailable, users can manually create banks, accounts, and statements.

  19. Manual Creation of New Banks and Accounts • When creating a new banking hierarchy, users will create a bank, relationship account(s) and detail account(s). • If the bank has monthly analysis charges, the negotiated fees can be added to the relationship accounts. • Monthly analysis statements can be created manually and processed into the software.

  20. Creating a Bank Manually • If the bank does not have an 822 file available, users can create their banks manually. • From Banking Structure, select the down arrow and choose New and then select Bank. • An unnamed bank tab will open for the user to enter the bank’s information .

  21. Manual Creation of Banks

  22. Manual Creation of Relationship Accounts • After setting up a new bank, a new Relationship Account will need to be created to accompany it. • To create this new Relationship Account, highlight the new bank, right click it, select ‘New’, and then ‘Relationship for selected Bank’.

  23. Manual Creation of Relationship Accounts

  24. Adding Negotiated Pricing/Fees • After inputting the Relationship Account information, the service charge fees will need to be input as well. • To do so, select the ‘Negotiated Fees’ tab, then select ‘Add’, and then input the Identity Information and Rate Details.

  25. Manual Creation of Detail Accounts • After setting up a new Relationship Account, the new Detail Accounts will need to be created. • To create this new Detail Account, highlight the new Relationship Account, right click it, select ‘New’, and then ‘Account for selected Relationship’.

  26. Manual Creation of Detail Accounts

  27. Creation of a Statement When only a paper statement is available, users can manually create a statement.

  28. Manual Creation of a Statement • Users will have two options: • ‘Create Statement from bank setup’ should be chosen when the user is creating the first statement. • If statements already exist, the user can ‘Create Statement from latest statement data’. • It is best to input the Negotiated Fees at the Relationship level prior to creating a statement. • Should the user create a statement before inputting the Negotiated Fees, the user will have to add the line items when creating the statement for each Summary and Detail Account.

  29. Manual Creation of a Statement • To create a new statement manually, highlight Statements, right click and make selection.

  30. Manual Creation of a Statement • Users are required to input the statement period on the ‘General Information’ tab.

  31. Manual Creation of a Statement • The ‘Account Detail’ tab displays: • Statement Hierarchy • Bank name • Relationship Account • Detail Accounts • Relationship/Account Detail • Service Charges • Balances • Rates • The service charges information must be input on the for each Relationship and Detail Account.

  32. Manual Creation of a Statement • The balance code information must be input on the Balances tab for each Relationship and Detail Account. • The first month users will need to add the balance codes: • To add codes, select add, input the service code, description and amount

  33. Processing of a Manual Statement • Upon completion of the manual statement, save your entries. • The statement will be shown under the statements folder with a red circle, signifying the statement needs to be processed into SmartAnalysis. • To process the statement, right click on the statement and select Reprocess Statement.

  34. Enhancing and Maintaining Bank Information

  35. Bank Level Information

  36. Bank Level - Contacts • Detailed contact information for bank representatives is entered on the Contacts tab of the Bank Editor located in the bottom corner of the Bank Editor, second tab from the left. • Information can be either manually input or imported.

  37. Authorized Associates Tab (RM) • Authorized Associates are employees of your organization that are trusted to make decisions about and take action on the relationship with a bank.

  38. Bank Level - Balance Mappings • Balance Mappings aligns the incoming balance information from a bank with the SmartAnalysis Comparison Codes. • This allows SmartAnalysis to perform meaningful comparisons of balances across banks in reports and queries.

  39. Bank Level – Case Folder • The Case Folder tab provides you with an area to record comments/case notes, insert attachments to the file and to email those entries to a selected email address. • The Case Folder tab displays the history for the bank. • A prefect place to attach your negotiated price listing.

  40. Relationship Level Information

  41. Relationship Level – Negotiated Fees • The Negotiated Fees Tab of the relationship editor contains information for the expected fees that define the baseline against which the discrepancy process compares incoming service charges. • When carefully maintained, the negotiated fee information provides accurate rate, boundary and tolerance information. • The more accurate the negotiated fee setup is, the more effective SmartAnalysis can be in helping you to identify and eradicate discrepancies.

  42. Relationship Level – Negotiated Fees

  43. Relationship Level – General Ledger Export • The GL Export Tab of the relationship editor sets the allocation patterns for bank fees at the summary level. • Earning credit balance detail can also be allocated. • Radio button is used to export the allocated charges.

  44. Detail Account Level Information • At the account level, any information regarding negotiated fees, tolerances or G/L export will supersede the summary level instruction. • The specialized information – Bank Confirmation is part of the Relationship Manager (RM) module. • Account signer information is maintained on the Signer tab. Relationship Manager (RM) module required.

  45. Detail Account – General Information

  46. Detail Account – Signer Information (RM)

  47. Detail Account – Bank Confirmation

  48. Detail Account – Earnings Credit Calculator

  49. Banking Structures • The Banking Information Module allows users to maintain their entire banking relationship. • From opening to closing, all account information is available for review or update with a click of your mouse.

  50. Any Questions?

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