A country specific update is available for MT-940 reconciliation functionality in Microsoft Dynamics AX 2012 R2

This article describes that a country specific update is available for MT-940 reconciliation functionality in Microsoft Dynamics AX 2012 R2.
Bank reconciliation is the process of comparing and matching figures from bank transactions against those shown on a bank statement. The end result is that, any transactions in bank transactions not found on the bank statement or vice-versa are said to outstanding.

Now as being in the Internet era, most banks provide online or downloadable electronic bank statements; but there are many different file formats of electronic bank statements, also automation levels are different from country to country, even bank to bank. Some functions around electronic bank reconciliation have been developed in AX in different layers as different country localizations, which were similar, redundant and not a complete solution.

The SWIFT MT940 format is used to export bank account information for processing in financial software applications. In Microsoft Dynamics AX, the file is used to import a bank statement into a bank journal.

MT940 is also known as "Customer Statement Message" and has a specific layout. Although a global definition is used for the definition of MT940 file, the actual layout differs from bank to bank. These are minor differences like a different tag or the formatting of a date field.