The intention is to develop a simplified import bank statement that
- is natural to use
- is flexible enough to be configured to import the bank statements
The new workflow will be developed as a commercial module known as Standard OFX. Users of the existing import bank statement workflows should be able to continue to use their existing processes without the need for reconfiguration.
This is a strategic development for Openbravo ERP that is believed to have the potential to significantly increase the speed and ease of adoption of the Openbravo solution.
Overview and Justification
This document contains the functional specifications for the Standard OFX module functionality. The main function is matching the bank statements with the existing financial account transactions.
User roles and persons
This project involves primarily business partners and customers from the payable and receivables departments.
Business process definition
OFX format is widely used in banks for sending their client statement. This would be more comfortable than CSV format. Since the OFX format is a kind of XML this would be easy to handle
It is therefore essential for the success of this project that the user interface enables users to matching the bank statements with minimal overhead.
A customer can create purchase or sales invoice. He would maintain his transaction in the application. Bank will send the bank statements to the customer based on his transaction. Customer can matching the bank statements with the application transaction statements.
Open Financial Exchange
Open Financial Exchange (OFX) is a data-stream format for exchanging financial information.Open Financial Exchange is a unified specification for the electronic exchange of financial data between financial institutions, businesses and consumers via the Internet.Open Financial Exchange is an Internet-oriented client-server system that features a direct connection between the client and a financial institution's server, employing a request/response model using XML.
The module Standard OFX mainly used to import the bank statements from the OFX file. Bank will provide the ofx file. Using the ofx file, User can import the bank statements. User can navigate the transaction tab from the financial account window. In Transaction tab there is a button Import Bank Statement.
- Please find below the screen shot which has "Import Bank Statement" button.
After pressed the button Import Bank Statement, It will open the Import Bank File Pop Up window.
There are two input fields are available in the Import Bank File pop up window. The fields are Bank File and File format. User can choose the ofx file using the browse button which is received from the bank. Then user need to provide the file format.List of file formats are available in the file format drop down box. After selecting the StandardOFX file format user can press ok button.
Fin Bank Statement
After processing the client request, server will retrieve the banking transactions from the chosen ofx file which made by the customer. The bank transaction statements will be stored in the FIN_BankStatement and FIN_BankStatementLine tables. User can see the sucess message in the transaction screen and user can know how many transactions are stored in the user data base.
The bank statements data available in the Imported Bank Statement tab. User can navigate the Imported Bank Statement tab and user can verify the data.
User can navigate to the Bank Statement Lines tab and user can see the no of statements retrieved from the ofx file.
Opensource Tool MT2OFX
Opensource tool MT2OFX is available for converting from CSV file to OFX file. MT2OFX is a freeware program to link downloaded banking transactions (in MT940, CSV, QIF, OFC, OFX or other non-binary format) to other formats as standard OFX. This tool used together with the Standard OFX module allows to import thousands of bank file formats into OB.
For more info about the opensource tool and how to download it, click here.
Converting CSV To OFX
Opensource tool is available for converting csv file to ofx. Using the above url we can download the opensource tool. After installing the software we can convert the file from csv to ofx. This tool will be working in windows platform only.
Using the browse button give the csv file location for ofx conversion. After choosing the file location, press the convert button. It will ask the location to store the ofx file in the system.
After selecting the file storage location, It will convert the file from csv to ofx and it gives the confirmation message.
After the confirmation message, we can use the ofx file.
The Matching Imported Bank Statement will match the Bank statements with openbravo statements.The bank statements are perfectly matching with the openbravo statements is called as strong matching and the statements are highlighted in dark green.The bank statements are not perfectly matching with the openbravo statements is called as weak matching and the statements are highlighted in lighter green.
Need to test the above matching bank statement with openbravo statements, we need to have 3.0RC2. Download the bank statement file here. File:BankStmt.zip