| Id: | 14872 |
| Product: | finPOWER Connect |
| Type: | FIX |
| Version: | 3.00.08 |
| Opened: | 31/08/2017 |
| Closed: | 01/09/2017 |
| Released: | 21/09/2017 |
| Job: | J019576 |
 High Importance |
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Bank Export Services (NZ); new setting to send Other Party Reference like version 3.0.6 and prior
New Zealand Bank Account Export Services now include an option to send the Other Party Reference like version 3.0.6 and prior did, to maintain backwards compatibility.
This setting is found on the Bank Account Export Service drilldown, on the Options page "Other Party Reference backwards compatible with version 3.0.6?".
In New Zealand, there are three fields that appear on the Customer's (Other Party) Bank Statement; Particulars, Code and Reference.
In version 3.0.6 and prior, if Reference was NOT defined then it was incorrectly sent to the bank as the Particulars, or Particulars plus Code (if Code was defined).
Version 3.0.7 corrected this issue, so the Customer's Bank Statement information is correct.
However, if a Direct Debit is dishonoured, at least for some Banks, the Particulars field is overwritten with dishonour information. This means the transaction may not be matched back to the originating Account, if the Code or Reference fields are blank.
So, the change made in 3.0.7 means that if only Particulars was defined, Reference is no longer set, and the imported Transaction will not match. Prior to 3.0.7, the Reference was mistakenly set and meant matching worked.
So, this option has been added to assist dishonour matching.
Note, the best long term solution, of course, is to make sure the Code or Reference fields are set to the Account's Id.