Bank Feeds: Importing transactions from a financial institution

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The Accounting CS Bank Feeds feature makes it easy for you to import transactions from a financial account (checking account, savings account, other bank account, or credit card account) into the Bank Feeds portlet of the Bank Feeds Dashboard in Accounting CS. This can save time during data entry and bank account reconciliation.

The Bank Feeds portlet enables you to import transactions through a direct connection to a financial account or through a file that you or your client download from the financial institution. The latter method is particularly helpful in cases where the financial institution does not support direct connection to Accounting CS or if you need to import historical transactions that fall outside the dates supported by the Bank Feeds feature.

Find out if your financial institution is available here.

  1. Open the Bank Feeds portlet in the Bank Feeds Dashboard.
  2. Select the appropriate client, and then select the appropriate bank account.
  3. To set up Accounting CS to automatically assign a specific value to the reference, description, type, vendor, 1099 item, and/or GL account when it retrieves transactions, click the Rules link in the lower-left corner of the screen to open the Rules dialog. In this dialog, you can define the criteria to compare and the values to assign.
  4. Choose one of the following options.
    • Retrieve transactions directly from the financial account:
      • For transactions that have not previously been retrieved, click the Retrieve Data button. For a newly-linked account, Accounting CS retrieves transactions as far back as the financial institution allows (up to three months, for most financial institutions). For linked accounts that have already had transactions retrieved, Accounting CS retrieves transactions since the last retrieval.
      • For transactions in a specific date range, click the Custom Date Range link in the upper-right corner to open the Custom Date Range dialog, where you can specify the date range for which to import the transactions. Accounting CS retrieves transactions within the date range, but only as far back as the financial institution allows (up to three months, for most financial institutions).

      Before you can import any transactions directly from the financial account, the account holder must register and link their account to Accounting CS.

    • Retrieve transactions from a downloaded file by clicking the Import Statement File link in the upper-right corner. In the Import Statement File dialog, enter the path and name of the file that contains the data to import, or browse to the file, and then click the Import button.

    If a retrieved transaction matches an existing Accounting CS transaction, the application displays Match in the Status column, disables the row, and lists the transaction in the Matching Transaction grid below.

    Note: If Accounting CS does not find expected matches, you may want to consider changing the number in the Number of days offset field in the Bank Feeds Options dialog to give the application a wider range of dates to use for the comparisons.

  5. Review the transactions in the Retrieved Transactions grid. If necessary, you can modify data in the Reference, Description, Type, Vendor, and GL Account columns for any unmatched transactions. You can also modify distributions for those transactions by clicking the Ellipsis button to open the Transaction Distributions dialog.

    By default, all transactions in the Retrieved Transactions grid are approved for retrieval. To exclude a transaction from the import, clear the checkbox in the Approve column.

  6. To view details about an existing Accounting CS transaction that matches a retrieved transaction, select the transaction in the Retrieved Transactions grid. The application displays the details in the Matching Transaction grid below.

    You can view the original transaction record by clicking the Go To Source button.

    If the transaction is not a true match, click the Unmatch button.

  7. Choose one of the following options.
    • To import the selected transactions, click the Approve button. Accounting CS imports the transaction information from the financial institution and makes those transactions available in the Actions > Enter Transactions screen and the Actions > Reconcile Bank Accounts screen.
    • To save any changes you've made in this portlet for later, click the Finish Later button. You or another staff member who has access to this account can return to this portlet at any time to complete the import.

Excluding transactions from the import

After you retrieve transactions from the financial institution, you may find that you do not want to actually import all of the transactions into Accounting CS. If you have retrieved (but not yet imported) a transaction that you don't want to include, choose one of these options.

  • To exclude a transaction from the import: clear the checkbox in the Approve column for that transaction. When you click the Approve button, the application ignores any transactions for which the Approve checkbox is not marked.
  • To delete one or more transactions from the grid: click the row selector to the left of the Approve column for the applicable transaction rows. (To select more than one row, press and hold the CTRL key on your keyboard while clicking the applicable rows.) After you have selected the transactions to delete, click the Delete button below the grid.

    Note: Accounting CS remembers which transactions have been imported and which have been deleted from the Retrieved Transactions grid, and it will not include those transactions in subsequent retrievals. To import transactions that have previously been deleted, import transactions via the Custom Date Range link in the upper-right corner, and specify a date range that includes the transactions to re-import. Accounting CS will retrieve transactions in that date range, whether or not they have been deleted before.

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