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What is MT940?

SWIFT MT940 is a common bank statement file across Europe. S.W.I.F.T. (or SWIFT) stands for Society for Worldwide Interbank Financial Telecommunication. It was established by European bankers who needed a more efficient and secure system for inter-bank communications and transfer of funds and securities. SWIFT messages are preset and referred to by category numbers called MT numbers. Cashbook has an integrated SWIFT MT940 solution which allows companies to upload a bank statement and algorithms are applied so that cash receipts and manual payments are automatically applied to customer invoices. The module can automate anything from 60-98% of your daily cash transaction.


SWIFT MT940 Upload

The process begins with uploading an MT940 (or other bank format for that matter) bank statement into Cashbook.
Some bank files do not provide standard, mandatory reference data records, specifically record 86, in the MT940 file format. Bank contacts should be requested to improve the data supplied.

This module can be implemented in the Benelux region or anywhere across Europe. Our experience has been excellent (70-90%) in Sweden, Finland, Norway, Germany, Switzerland, Austria, and The Netherlands; France and Belgium (30-50%) and across the UK the auto-matching is limited (10-20%) due to the quality of the bank statement data. The good news is with SEPA changes our auto-matching with the SWIFT MT940 bank statement files has improved.





  • JDBC access to multiple ERP systems, either directly integrating with system data or via staging databases.
  • Uploads and stores multiple bank accounts, bank statement numbers and opening and closing
    bank balances.
  • Reports on all cash automatically applied and manually matched.
  • Can alias bank statement information that is incoming to improve auto-matching and not upload specific bank account details.
  • Caters for partial payments, credit/debit notes, unallocated payments, multiple discount terms, foreign exchange gain or losses, write-offs, bank charges and suspense account postings.
  • Integrated with Excel, EDI, PDF, Customer Lockbox Modules and Bank Reconciliation, which enables usage with high and low volume customers.
  • Multiple sites, environments or ERP systems can be catered for.
  • Where codes or ‘character strings’ are used to identify transaction types and/or amounts – example ‘SKT’ = discount – we will automatically code these references to specific ledger accounts.
  • Ability to view all bank statement information through Cashbook journals.


  • Elimination of manual effort allows companies to allocate more staff time to other higher-value activities.
  • Creates the ability to run Shared Service Centres without the need for a common ERP system platform or version updates.
  • Global companies can employ a global solution for all sites across multiple banks.
  • The module can automate anything from 60-98% of your daily cash transactions.
  • Using bank codes we can automate the workflow or transaction code of 100% of your daily transactions.



Whatever your ERP, we’ll fire up its Cash Management engine.
Enjoy an incredible level of automation, functionality and control.

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