Oracle Cash Management – File Format

BAI2

A BAI2 file is a comma-delimited, plain text file that is a standardized format for sharing cash management data, such as account balances and transactions, between banks and their customers. It is used for tasks like bank reconciliation and is machine-readable, allowing automated processing by accounting software. The format uses specific record types to structure the data, including headers, trailers, and transaction details.

Key features of the BAI2 file format

• Standardized format: Developed by the Bank Administration Institute, the format provides a consistent way for banks to exchange account information.
• Text-based and comma-delimited: The file is a plain text file where fields are separated by commas, and records are terminated by a forward slash (/).
• Structured data: The file contains different record types with specific codes to organize information:
• File Header (01): Contains information about the file itself, such as the sender and file creation date.
• File Trailer (99): Provides control totals for the entire file.
• Group Header (02): Groups transactions by account and provides details like the group status and the “as of” date.
• Group Trailer (98): Provides control totals for the group.
• Account Header (03): Identifies a specific account and its currency.
• Account Trailer (49): Provides control totals for the account.
• Transaction Detail (16): Contains the details of individual transactions.
• Continuation (88): Used to continue the information from a preceding record.
• Automated processing: The standardized structure allows accounting software to automatically import and process the data for bank reconciliation.
• Purpose: The format is widely used by businesses to reconcile their internal records with their bank statements efficiently.

SWIFT940

The “940” file format refers to the SWIFT MT940, a standard electronic bank account statement message used to provide detailed information on an account’s transactions and balances. It is a text-based file with a strictly defined structure, containing data like opening and closing balances, and a line-by-line breakdown of each transaction. This format is widely used by financial institutions to automatically import bank statement data into accounting and financial software.

Key components of an MT940 file:

• Tags: The file is composed of tagged data fields, such as :20: for the transaction reference number, :25: for account identification, and :61: for statement line details.
• Account Identification: A tag like :25: identifies the specific bank account for which the statement is being sent.
• Balances: Fields such as :60F: (or :60M:) and :62F: (or :62M:) detail the opening and closing balances, respectively, including the date and currency.
• Transaction Details: The :61: tag provides information for each individual transaction, including the date, amount, and a transaction code. The :86: tag offers additional information about the transaction, such as the remitter or beneficiary.
• Structure: The file is a text file that can contain multiple messages to accommodate all the necessary information, with the overall structure being compliant with SWIFT specifications.

Usage:

• Automated Reconciliation: The structured format allows for the automatic import and processing of bank statement data into accounting software, simplifying bookkeeping and reconciliation.
• Data Exchange: Banks use it to transmit statements to their customers, who can then use the data in their financial management systems.