How can I create a single rec function to pick *.txt files which can be of two seperate formats and process them.

Well there is now direct functionality to do this..., However you can acheive this using Orchestration...
Steps:
1) Pass the Raw data(Un Validated) to Orchestration Shedule, Use Submit with pass-through flag to achieve this.

2) In Orchestration Shedule Check if the incomming format is of what type.. (i.e FORMAT1 OR FORMAT2..), Use simple WScript of COM Component to achieve this..

3) Based on Return type from your Component or Script (i.e. say 0 for FORMAT1 AND 1 FOR FORMAT2) route to different channels...

 Hope this helps you...

 "Personally I would not Prefer this method as this would be Consuming lot of resources, when your talking of thousands of documents per day.
     Better way would be to put different format files in different directories and process through different rec functions, also would be avoiding unexpected errors from your Script or Component"

  Happy Bizzing..

   Reddy.

If we will use submit with pass thru flag then we will have to specify channel in rec. function. But one channel can only handle one type of format. Is there any other solution.