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Tag >> data standards
Aug 03

Cash reporting standards must be improved

Posted by dbedell in treasury management systemERPdata standardsdata standardizationdatacash reportingcash managementcash concernsCashbiztech


It is time to update and standardize cash reporting formats, according to a survey by the Association for Financial Professionals. 

It found that a vast majority of companies want to see the Banking Administration Institute (BAI) cash reporting format—which is used for everything from bank account information reporting to controlled disbursements to lockbox or receivables information reporting--standardized across banks. The format is used for current-day or previous-day information reporting from banks. 

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