The Bank Feeds API allows you to connect directly to your bank account and download the latest statement directly into Access Financials.
When a secure connection has been established and the functionality has been activated, it will replace the current CSV Import File functionality, an you will have the option to de-activate the new Bank Feeds functionality and revert back to the CSV Import if required.
You can only set up a connection to any one nominal bank account per bank. If you wish to create new connection using the same bank details on more than one bank type nominal account, you will need to fully reconcile or delete current Bank Reconciliation which is outstanding in the Cash Book screen.
Note: When you use the Bank Feeds to download your statement and you select a bank type nominal account from the Cash Book option, you will only be able to reconcile transactions from a specific open statement only.
Connect to the Bank Feeds API
Click Financials then click Cash Book.
Note: All Bank and Petty Cash type nominal accounts are displayed for you. You can narrow down you search using advanced filters. You can also search on the columns directly by pointing the mouse to the name of the column and click on the
icon and choose from the available filter list, then click OK.
Click on the underlined or hyperlinked text on the Nominal Account Code or Nominal Account Name column to set the bank type account to be in edit mode.
Note: The selected nominal account opens in edit mode with the Details tab in focus.
Click on the Bank Details tab and scroll down to the Account Details section.
Note: If you wish to add in a date tolerance, you can do so by scrolling to the Reconciliation Options and enter the number of tolerance days which is used by the Auto Matching system when suggesting matches for you. The number defaults to zero.
Enter the correct bank details and then click on the Save button at the bottom of the screen.
Note: This action saves the bank details against the account you selected into your database and will enable the Connect button on the screen.
Now set the same account record into edit mode again, just like in step 2 and click on the Connect to Bank Feed button.
You are presented with the Plaid confirmation window, click Continue.
The Plaid Bank Selection screen opens where you need to select your Bank Account:
Click Continue to authenticate the details directly with your selected bank.
Depending on which bank you have selected, you are presented with a screen where you need to add in your security sign in.
A list of all the available bank accounts is presented and you can select the correct account that matches the Bank Details you have entered in Access Financials and click Proceed.
You are presented with a Success message screen
Click Continue and you are returned back to the Bank Details screen in Access Financials.
You need to click Save again to save the connection, then set the bank account into edit mode again like you did in steps 2, and then select the checkbox in front of the Activate Open Banking label.
You have now set up the Bank Feed on your selected bank account in Access Financials. You now need to link the users you want to have access to the bank reconciliation process other than the user who has set it all up.
Link Users to the Bank Reconciliation process
On the Cash Book Bank Details Tab where you have set up the connection, click on the Link Users button.
On the Select Delegates screen, you will see the list of users in the database who have permission to the bank reconciliation process.
Select the checkbox against the users that you wish to have access to the process and once you are done, click Save.
You can now move on to download transactions from your selected bank. To do this, please follow our Download bank statements using the Bank Feeds connection article.