IQ Banking for Business Central

IQ Banking works with the standard norma 43 format, a standardised bank statement format issued by practically every bank in Spain, so it doesn't depend on your specific bank having a special integration: if your bank generates statements in this format (the vast majority do), the solution just works. For some banks we also offer more direct connections when the bank allows it, avoiding even the step of manually downloading the file. If your company works with several banks at once, each with its own export format, that's not a problem: we set up the import for each bank independently within the same Business Central.

It depends on each company's transaction volume, but the usual outcome is going from several hours of manual reconciliation — looking up each statement transaction one by one in the accounts — to just a few minutes reviewing the few exceptions the system couldn't match automatically. Most transactions (customer payments with a clear reference, payments to suppliers already recorded) reconcile themselves with no human involvement; what's left to review manually are the ambiguous cases: a payment with no clear reference, an unexpected bank fee, a duplicate transaction. The tidier your invoicing and payment references are, the higher the automatic reconciliation rate and the less time you need to spend on it each month.

Yes. The solution generates both SEPA direct debits (to collect from your customers via bank mandate) and transfers (to pay your suppliers), directly from Business Central and based on the documents you already have recorded in the system: sales invoices pending collection and purchase invoices pending payment. Instead of generating each batch by hand on your bank's platform, you select the documents you want to include from within the ERP itself, and the system generates the file in the standard format your bank expects, ready to upload. This reduces the risk of errors when entering amounts or bank accounts by hand, and leaves a clear record of which batch included which invoices.

No, it complements it. You keep operating with your bank completely normally: you still have your account, your card and access to online banking for anything you need to do directly with the bank. What changes is that reconciling transactions and generating collection and payment batches, which today you probably do by logging into online banking and manually cross-checking against your accounts, moves to being done inside Business Central automatically or semi-automatically. In other words, we don't replace your relationship with the bank, we automate the admin work that connects your bank to your ERP today and that usually takes quite a bit of time if done by hand every week or month.

Yes, it supports multiple bank accounts and multiple banks at once, which is common for companies that spread their operations across different banks for negotiating leverage, guarantees, or simply for historical reasons. Each bank account is configured independently within Business Central, with its own transaction reconciliation and its own collection and payment batches, without any of them interfering with each other. This gives you a unified view of your whole cash position — how much you have and what movements there are at each bank — without having to log into each online banking platform separately to get the full picture, and without losing track of which account each specific collection or payment belongs to.