MT940 + KudTax
Automate bank statement reconciliation for MT940 – match bank deposits against e-commerce payout batches, supplier invoices and fees.
MT940 is the bank statement format nearly every German bank provides, and the single most important data set for reconciliation. Only the bank statement proves a marketplace payout actually arrived. Without it every reconciliation is a claim about money you have in the books but have not evidenced in the account.
How MT940 works with KudTax
01
Connect MT940 bank feed
Connect your MT940 business bank account via secure PSD2 banking interface.
02
Fetch transaction feed
Imports bank statements, SEPA payouts, card transactions and bank fees in real-time.
03
Match deposits to e-commerce payouts
Pairs net bank deposits with marketplace settlement reports and clears transit accounts.
04
Export to DATEV bank feed
Exports pre-reconciled bank posting batches to DATEV or your accountant.
What KudTax reads from MT940
- Where the export lives
- Online banking → Transactions → Export → choose format MT940 (SWIFT); many banks also offer camt.053
- What the portal calls the file
- Bank statement MT940 (SWIFT) or camt.053
- Formats
- MT940STAcamt.053 (XML)
Line-item types recognised
- Incoming and outgoing payments
- Remittance information and originator
- Opening and closing balance per statement
- Bank charges
- Returned direct debits
What to watch for with MT940
The remittance text gets truncated
MT940 caps the remittance information at a few fixed-length lines, and long payment-provider references get cut, so matching on the text alone fails. Reconciliation has to run on amount, date and the provider report as well.
Gaps in the statement only show up in the balance
Skip a statement and one closing balance no longer agrees with the next opening balance. That chain is the evidence of completeness, and without checking it a gap first surfaces at year end.
MT940 is being retired, not replaced overnight
camt.053 is the modern successor, with structured fields and fewer text limits, and many banks still deliver both. If you read MT940 today, prepare the switch rather than being forced into it the day the bank turns the format off.
Why connect MT940 with KudTax
Automated bank feed
Syncs transactions daily without manual CSV statement exports.
Transit account clearing
Clears Geldtransit (1360/1460) accounts automatically against settlement batches.
Fee & charge separation
Categorises account fees, interest and SEPA charges to correct accounts.
DATEV bank import
Outputs clean statement data ready for DATEV Kanzlei-Rechnungswesen.
MT940 integration – FAQ
Yes. camt.053 delivers structured fields and fewer truncated remittance texts, so where the bank offers it, it is the better source.
Through the provider report: the bank statement evidences the receipt, the report breaks it down into individual orders.
The balance chain from statement to statement is the check — a break indicates a missing file.
KudTax links bank deposits to the matching settlement report and clears transit accounts.
Yes. Connections use secure PSD2 open banking standards.
Automate your MT940 accounting today
Join the online sellers who let KudTax handle the numbers. Create a free account and connect MT940 in minutes.
