Using Bank Feeds (BC365)

this page includes instructions for the new bank feeds service you must be on version 2024 1 0 0+ to have access to this version of bank feeds to migrate bank feeds, follow these instructions bank feeds migration (bc365) docid\ ustiq90g7zwhyfbjre m4 this guide covers how to use bank feeds with the bank account reconciliation module or the payment reconciliation journal to streamline your reconciliation process bank feeds allow you to import transactions into only one module either the bank account reconciliation module or the payment reconciliation journal, but not both please select the module that best suits your organization's workflow during the setup of your bank feed bank account reconciliation module to initiate your first bank feed using the bank account reconciliation module, begin by using the system search bar to locate and open bank account reconciliation once the page loads, navigate to the top menu bar, select process , and then click new you will then be prompted to select the specific bank account you wish to reconcile to complete the setup import with bank account reconciliation follow these steps to import your bank account transactions into business central for reconciliation using the bank account reconciliation module go to bank account reconciliation select cash management and then navigate to the bank account reconciliation module select the bank account you would like to start with import bank statement to retrieve new data, select import bank statement this action will load all transactions received since your last import was triggered if no new data is available, a system notification will appear to confirm that there are no new transactions to import expected fields the list below outlines how the transaction data imports into the business central columns business central column transaction data transaction date settled date document number customer reference related party name counter party name or related party name description description amount amount check no check no additional transaction info bai2 code fields marked with an asterisk ( ) are conditional this data will only appear in business central if it is provided in the bank's transaction details; not all transactions will contain this specific information match transactions with bank account reconciliation with your columns configured and your data imported, you are ready to begin reconciliation using the bank account reconciliation module follow these steps to match the imported transactions to your existing business central entries automatically match transactions to use the automatic match feature, go to matching > match automatically the system will prompt you to enter a transaction date tolerance the recommended tolerance depends on the payment method used; for example, ach and wire payments typically settle within five business days, whereas checks depend on when your vendor deposits them business central will attempt to match the transactions based on these criteria once the process is complete, a summary will appear displaying the number of lines successfully matched manually match individual transactions to manually match transactions, click on the corresponding transaction on both the bank statement lines section and the bank account ledger entries section with both lines selected, click matching > match manually once the transactions are matched, they will both turn green to signify success manually match multiple entries to one bank statement line you can also match bank account ledger entries to a single bank statement line first, select the target line in the bank statement lines section next, in the bank account ledger entries section, hold down control (windows) or command (mac) while clicking to select the multiple transactions you wish to group together then, click matching > match manually once matched, the system will highlight the single statement line and the multiple ledger entries in green, indicating they are successfully matched removing matches if you incorrectly match a transaction, you can easily remove the link select the matched lines in both the bank statement lines and bank account ledger entries sections next, click matching > remove match the green highlighting will disappear, indicating that the transactions are no longer matched and are available to be rematched deleting transactions if you need to delete a transaction, click on the three dots beside the transaction date click yes, and the transaction will be deleted payment reconcilitation journal module to initiate your first bank feed using the payment reconcilitation journal module, begin by using the system search bar to locate and open payment reconcilitation journal select cash management → payment reconciliation journal to complete the setup, select process → import bank transactions import with the payment reconciliation journal follow these steps to import your bank account transactions into business central for reconciliation with the payment reconciliation journal go to payment reconciliation journal select cash management and then navigate to the payment reconciliation journal module select the bank account you would like to import your transactions from import bank statement to retrieve new transactions, select import bank statement this action will load all transactions received since your last import was triggered if no new data is available, a system notification will appear to confirm that there are no new transactions to import match transactions with payment reconciliation journal with your bank data imported, you are ready to begin reconciliation using the payment reconciliation journal module follow these steps to match the imported transactions to your existing business central entries automatically match transactions to use the automatic match feature, click on apply automatically a prompt will appear asking if you wish to overwrite any previously applied entries select yes or no based on your preference business central will now attempt to match the transactions once completed, it will provide a summary of the total number of lines that were matched successfully manually matching transactions to match a specific transaction manually, first select the transaction line you wish to reconcile once you have selected the line, click on manual application > apply manually you can now select the corresponding single entry or multiple entries to complete the match once applied, the transaction description will populate, and the match confidence status will update