BankData signup & configuration for IPA Books+

Legacy KB ID: 5339

Question

How do I signup for BankData and access my bank and credit card transactions in IPA Books+?

Answer

Procedure

  1. Purchase a BankData Module
  2. Add your bank and credit card accounts on the Bank Feed Management screen
  3. For Direct Bank Feeds, download the bank authority form, complete and sign it and send to Reckon.  Allow 8 days for activation.
  4. When transactions received, BankData Account owner to link the bankdata feed to the bank ledger account inside IPA Books+. Then any user with banking permissions can download and process bank transactions.

 

Step 1: Purchase a BankData Plan

On your Book icon, click on the 3 dots >  Settings > Customise your ReckonOne modules;

Select a plan in the Connect to your bank section

Complete the purchase

 

Step 2: Add accounts to your BankData Record

In your Book, Banking > Bank connections > Connect an account;  

Click on Add Feed

Follow the directions to add your Bank Account

1. For Account type select either bank or credit cards

2. In Financial institution field:

a   for a Direct feed, select from the short Available directly list

b. for banks not listed in a), select from the Available by Yodlee list

1.Yodlee will be asked for your bank internet login credentials. If you are not comfortable giving your credentials to a 3rd party you should not use this service.

2.credit cards are available only through a Yodlee feed

3. Enter account details:

a. Direct feeds – enter Bank Account Name, BSB and Account number as they appear on your bank statement

Input fields are structured to check your entries and where necessary zeros may be added to the beginning or the end of the number you entered to make the number given you by the bank conform with the format used in electronic exchange files.

b. Yodlee feeds – enter bank internet credentials, and if required, the security code.

1. Yodlee will access all accounts of either bank or credit card type available on this login. In most cases you will need only one Yodlee connection to access your credit card accounts and one other to access bank accounts.

2. You will need multiple Yodlee connections if:

1. You have credit card and bank accounts with different financial institutions for which you have separate login credentials;

2. You require bank and credit card accounts from the same financial institution

3. The accounts you require for your business are held by different people with separate login credentials.

3. Part of the setup process Yodlee will get up to 3 months of transactions for each account found.

 

Australian ANZ bank customers can complete the signup on the ANZ website for a faster approval.  Click here for full instructions.

Australian Westpac Live customers can complete the signup on the Westpac Live website for a faster approval.  Click here for full instructions.

Bank Feed Management screen will now show the Status for direct feeds as Saved and for Yodlee feeds as Active.

 

Step 3: Complete the Bank authority

Only applies to direct bank feeds

  1. Click the link in the confirmation email you receive after entering your bank account details.
  2. It will be prefilled with the information you entered earlier.
  3. Add any further details requested and sign the form in accordance with the authority held by the bank on this account.
  4. You can add more accounts on to this form, but:
    1. They must be first entered into your bankdata record
    2. The signatories on all the accounts on the form must be the same.
  5. Send the form to Reckon: bankdata@reckon.com

CBA customers must post the original form to Reckon on the postal address at the bottom of the form.

      1. Bankdata
      2. Locked Bag 7522
      3. Milsons Points.   NSW 2060.

Please Note: every bank account must have a signed authority form.

6.       Reckon will mark your file and forward your application to the Bank

At this stage your Bank Feed Management screen will show the Status as Form with Bank.

 

Step 4:  Await notification of bank activation

When the bank approves your application, entries to your bank account from that day will be copied to a file that will be sent to Reckon the following day.

When we receive a transaction to your nominated accounts for the first time we will send you an email letting you know that you have transactions to download.

When the first transaction is received the status on the Bank Feed Management screen will change to Active.

 

The sign-up process is now complete.

 

Step 5: Linking BankData to a IPA Books+ bank ledger account

You will be able to link to a bank account after you have received notification that your account is active.  Yodlee connections are available immediately

If you have applied to link a number of bank accounts, these accounts may be activated on different days.

Although the bank account may be made active by the bank, Reckon will not register the account as active until the first transaction is received.

 

Only the BankData account owner can link the bank ledger account to the bankdata feed. Once that is done any user with Banking permissions will be able to download and process transactions.

 

1.  Go to the Banking > Bank Connections

2.  Link the available bank feed to a bank ledger account

1. On the line of the bankfeed, click Link

2.  Select an account from the field that opens to the left

3. Click Save

3.  Return to the Banking > Bank Accounts screen.  On your bank entry:

1. Click on Actions button

2.  Select New transactions

3.  In the Upload Source section, ensure the highlight is on the bankfeed

In the table below you’ll see your transactions waiting to be allocated.

 

Direct bank feeds are automatically updated each morning and are mostly ready by the start of business.

 

Yodlee feeds

Yodlee feeds follow a different update schedule and the latest transactions will not be ready until later in the day. 

Yodlee connections that involve an additional security code to access the bank or credit card website cannot be automatically updated.  Each time you want updated transactions you will need to:

1. Go to Banking > Bank Connections > Connect an Account

2. On your Yodlee line, click on the Authentication Required link in the Status column

3. Enter your bank internet login credentials and when requested the security code

4. Wait a few minutes for Yodlee to retrieve your transactions since the last update.

 

Need more help?

Ask the Reckon Community at: https://www.reckon.com/au/support/one/.

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