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This article applies to:

  • Product: Accounting CS
  • Subject: Bank reconciliation

Work in the Bank Feeds portlet

You can use the Bank Feeds portlet to review and modify transactions that you have retrieved from the financial institution (either directly or from a statement file downloaded from the financial institution) and to approve the specific transactions to import into Accounting CS.
  1. Open the Bank Feeds Dashboard and then select the Bank Feeds portlet.
  2. Verify that the correct client is selected.
  3. Select the applicable bank account, then select
    Retrieve Data
    .
From there, you can do the following on the screen:
  1. Use the
    Search
     and
    Filter
     fields to limit the number of transactions listed in the grid.
  2. Select the client whose transactions you want to retrieve.
  3. After you select a client, the application populates the dropdown for the
    Bank Account
     field with your client's financial accounts. Select the one you want to retrieve transactions for.
  4. After you select the client and account, select
    Retrieve Data
     to retrieve transactions for that account. The application connects to the financial institution and retrieves (but doesn't yet import) any transactions that weren't previously retrieved.
  5. Select
    Import Statement File
     to import data from a statement file downloaded from the financial institution. The
    Import Statement File
     screen opens for you to select a file containing the transactions to import.
    note
    This is particularly helpful if the financial institution doesn't support direct import through the Bank Feeds feature or if you need to retrieve historical transactions that are outside the dates supported by the Bank Feeds feature.
  6. Select
    Custom Date Range
     to import data for a specific date range. The
    Custom Date Range
     screen opens for you to specify a date range for the transactions to import. The application will import only the transactions that are dated in within that range.
  7. Go to the
    Retrieved Transactions
     grid. From there you can do the following:
    • This grid displays information about the transactions that were retrieved directly from the financial account or from a statement file that was downloaded from the financial institution. If a retrieved transaction matches an existing Accounting CS transaction, the application displays
      Match
       in the Status column and disables the row. When you select a transaction in this grid and Accounting CS has a match, it lists the matching transaction in the Matching Transaction grid.
    • You can change the information in the Reference, Description, Type, Vendor, and GL Account columns for any unmatched transaction. You can also modify distributions for those transactions by selecting the ellipsis to open the
      Transaction Distributions
       screen.
    • To include a transaction in the import, mark the checkbox in the Approve column. The application displays
      Import
       in the Status column and, when you select
      Approve
      , it imports the selected transactions from the financial account and marks the transactions as cleared for bank reconciliation.
    • To delete an unmatched transaction that's been retrieved, select
      Delete
       . The next time you select
      Retrieve Data
      , Accounting CS won't retrieve that transaction. However, if you retrieve data via the
      Custom Date Range
       screen, the application will retrieve that transaction.
    • You can right-click any transaction and choose
      Add Rule
       to open the
      Rules
       screen, where you can define rules to automatically assign a specific value to the reference, description, type, vendor, 1099 item, and/or GL account for retrieved transactions that meet the criteria you specify.
      note
      • If you right-click a transaction a rule has already been applied to, you can choose
        Edit Rule
         to open the
        Rules
         screen so you can modify that rule (or any of the rules set up for the selected client), or you can choose
        Delete Rule
         to delete the rule that has been applied to the selected transaction.
      • When you add, edit, or delete a rule, the application doesn't apply those changes to any retrieved transactions that have been saved.
  8. Go to the
    Matching Transaction
     grid. This grid displays the existing Accounting CS transaction that matches the retrieved transaction selected in the Retrieved Transactions grid. The application determines matches as follows.
    • Accounting CS compares the reference and amount for each retrieved transaction against the reference and amount for existing Accounting CS transactions. If it finds a match, it lists that transaction in this grid.
    • Accounting CS compares the amount and date for each remaining retrieved transaction against the amount and date for existing Accounting CS transactions. By default, the application compares the date of the existing transactions with dates that are within three days of the retrieved transaction. However, you can change the number of days for comparison in the Bank Feeds Options screen. This ensures that Accounting CS matches more deposits, debits, and credit card transactions.
  9. Select
    Finish Later
     if you need to save changes without finalizing the import or select
    Approve
     to initiate the import.

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