BankData FAQ

What is BankData?

BankData is a Reckon facility to connect your Reckon accounting software (Accounts Business, Reckon Accounts Hosted and IPA Books+) to your nominated bank accounts to provide a seamless import of your bank transactions.  

   

What is a Direct Bank Feed?

A direct Bank Feed is a secure direct connection between your Bank and Reckon to send transactions from your bank account to Reckon accounting product.

 

Can I access all my bank accounts through direct bank feeds?

No.  Which accounts are not accessible may vary from bank to bank, so you should consult your Bank Relationship Manager for a full list of which type of accounts can and cannot be accessed. 

Generally, transactional accounts without special conditions are accessible by direct bank feeds. 

Credit Card Accounts are not accessible.

Any account that does not have a BSB (Bank State Branch) number is not accessible – for instance Home Loan Accounts

Special Condition accounts – like Loan Accounts, High Interest Savings Accounts – generally are not accessible.

 

What information must I supply to Reckon to establish a direct bank feed.

We need sufficient information to match the bank’s account to a BankData record.  You must provide:

Add a new Bank Feed Screen

Country

Australia or New Zealand

Account Type

Bank or Credit Card

Financial Institutions (direct links available)

Bank selection will show only those banks with direct bank feeds:

AUS:   ANZ  CBA  NAB  WBC  SGB  BSA  BoM  BoQ Ben Rural Heritage

NZ:   ANZ  WBC  ASB  KiwiBank  NBS TSB

For other banks select:  My financial Institution is not in the list (will open a Yodlee selection box)

Financial Institutions supported by Yodlee Inc

Most banks are here.

Some banks have incompatible systems with both direct feeds and Yodlee and therefore cannot be accessed (Bendigo Bank).  :  Some banks may block Yodlee from access.

Credit Cards

Only accessible via Yodlee

You will have access to all Credit Cards on your account

An 8-digit Yodlee ID will be issued via email the next day.

You will not be asked for any account numbers.

 

Enter bank account details

Account name

as it appears on your Bank Statement and cheques

BSB:

6-digit number. 

NZ use first 6 digits of your 16-digit number

 

Account Number

If the first digit is zero, omit it and the system will account for it when activated by the bank. 

NZ – start at the 7th digit of your 16-digit account number.

A “3rd party access” authorisation form for your bank to authorise the bank to send a copy of transactions on your nominated bank accounts to Reckon via the direct bank feed. 

Yodlee will request your Online banking sign on credentials.

Depending on the institution you will be required to enter two or three pieces of information

You will not be asked for any account numbers.  Yodlee will make available all credit card accounts on this sign on; or in the case of bank accounts, to all bank accounts on this sign on.

Customer Number

Customer number of Internet access number

Security Number

 

May or may not be asked by your institution.

May be called an Access code or PIN.

Password

Password

You do not require to sign any authorization forms, however be aware . 

  

Who can sign the “3rd party access” form?

All applications to the bank must be signed in accordance with existing authorities held by the bank. 

Accountants, Bookkeepers and Consultants should take special care that forms are signed by their clients and not themselves.

In some cases the name on the bank account may be different to the name of the Business and the name on the Reckon Customer database. 

   

How long does it take from sign-up to being activated?

Under normal conditions you should allow 8 days.  The length of actual time will depend on the speed at which you deliver signed forms to Reckon and whether there are any irregularities with the “3rd party access” authority form.  Where the bank is not satisfied with the form they may refer the form to the local branch for clarification and contact with the account holder.

   

How many bank accounts can I add to my BankData record?

You can have as many accounts as you like, from any number of financial institutions.

   

Can I add more accounts to the “3rd party access” form?

The “3rd party access” form is populated for the details you entered in your BankData signup. 

Yes, you can add more accounts to the form you receive, but then you must add these accounts to your BankData record. 

   

How do I add more accounts on to my BankData record?

On the Bank Feed management screen, click on Add Feed and add the details.  You will need to submit a “3rd party access” form to Reckon at Bankdata@reckon.com for this account signed in accordance with the authority held by the bank on this account. 

   

How do I remove an account from my BankData record?

On the Bank Feed Management screen, at the end of the entry for that account, click on the Trash Can.

   

What setup do I need to do in my Accounts Business and Hosted to access BankData?

You need to provide details in two areas:

  1. Edit > Preferences > Banking > Company Preferences
    1. Tick the box Enable Bankdata
    2. Enter your UserID in BankData User Id: box;
    3. Enter your BankData Password
  2. Lists > Chart of Accounts > right-click YourBankAccount > Edit > Online Bank Details tab:
    1. Enter details for:
      1. Financial Institution
      2. Branch Code (BSB number) -  Note: numbers only - no dashes
      3. Account Number – bank account or credit card
      4. Account type
      5. Tick: Include Balance Record
      6. Enter APCA number: default no. is 111111
      7. Yodlee ID is entered only for Yodlee access

   

What setup do I need to do in my IPA Books+ to access BankData?

The owner of Bankdata needs to link the bank feed to the bank account register:

  1. Transactions > Banking
  2. Click on Connect to your bank
  3. Wait while information about your BankData feed populates
  4. On the bank account line, click on Link this to a bank account
  5. Select the relevant bank account and click Save.

   

How do I import Bankdata into my Accounts Business and Hosted?

  1. Banking > Online Banking Centre
  2. Click on Import BankData button
  3. Select Bank Account and date range
  4. Click OK on the Transaction Summary screen
  5. Add or match transactions into your company file. 

   

How do I import Bankdata into my IPA Books+ Book?

  1. Transactions > Banking
  2. Click on the Reconcile button for your account
  3. Use either Find Match or select from More Options
  4. For regular transactions you can create a Rule for automatic entry 

   

From what date can I import transactions?

Bank transactions are available from the day your Bank activates your bank account for direct Bank feeds – that is after they have received and accepted your “3rd party access” authority.

Subsequent BankData imports will give you transactions entered into your bank account since the last import was done. 

   

Do I have to import all transactions into Accounts Business and Hosted in one session?

No. You can define a smaller date range to import.  Only when the transactions are entered into your bank register will the transaction be fully processed and no longer be available to enter again.  

   

Do I have to import all transactions into IPA Books+ in one session?

No you do not. Transactions will remain in your Transactions from Bank List until they are entered into your book. However, if you leave the BankData screen before processing all transactions, when you return the screen may be blank.  In this case:

  1. Calculate the number of days from the last processed transaction.
  2. Administration > Settings > General settings (section) > Book settings > BankData - retrieve last "n" days.
  3. Enter the number of days from today to the date of the last reconciled transaction.
  4. Go to Banking > Transactions > your bank account
  5. Your Bankdata transactions from the day after the last reconciled transaction will appear.
  6. Transactions from before the date of the last reconciled transaction will need to be entered manually and then reconciled manually.  If you still have a large number of transactions then you can export those transactions from your bank website into a QIF file and import it into your IPA Books+ book. 

   

What Account Types arent available via BankData?

Non-standard accounts such as Home Loans, Term Deposits and any Accounts with restrictions aren't available via BankData. There is an initiative in Australia and New Zealand called Open Banking due to start in 2020 which will enable banking customers to get Feeds from any account types. We will provide more information around Open Banking closer to the time. 

   

How do I cancel my BankData plan?

In Accounts Business

  1. Log on to bankdata.reckon.com
  2. On each bank account line, click on the Trash Can
  3. When all entries deleted, at the top of the table click on cancel plan.

In IPA Books+

  1. Control Panel > Bank Feed Management
  2. On each bank account line, click on the Trash Can
  3. At the top of the table click on cancel plan
  4. On your Book icon, click Module and for BankData select None option and proceed to the Checkout. 

  

How did we do?

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