The Bank Direct Connect function links your financial institution directly to Accounting Seed and allows you to import bank transactions into Accounting Seed.

  1. Navigate to Accounting Home and under Banking, select Bank Direct Connect.

  2. Click on the Import Bank Transactions tab.

  3. Choose a date range. The system defaults to the last 30 days, but you can import up to 90 days of past transactions.

  4. Choose the bank account from which you want to import transactions.

  5. Click Search. All transactions from the bank account for the time period you specified will appear. Accounting Seed will display 25 transactions at one time. Click Next Page to see additional transactions.
    • There is a limit of 500 transactions in one import.
    • The system will notify you if you have already imported a transaction and will not duplicate it.
    • Tip: Please always save changes before going to the next page.

  6. Customer/Vendor Account & the GL accounts must be populated in order to import and create a record.

  7. By clicking on the Display Projects & Display GL Variable fields, the system will allow you to tag these items on the bank transactions.

  8. Assign the Vendor and GL Accounts and select either Disbursement or Credit Journal for money coming out of the bank.

  9. Select Receipt or Credit Journal for money coming into the bank on the type picklist.

  10. Clicking the Find Matching Data button will do one of two things:
    • It will search Accounting Seed for existing records that match this bank transaction to help prevent entering a duplicate record.
    • If no matching data is retrieved,  it will populate all bank transactions without a customer or vendor account with the default vendor found in Accounting Settings. When the transaction is complete, you can edit the account information.  

  11. Click Create Records.

  12. These records will auto-post upon creation. 

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9 Comments

  • 3
    Avatar
    NATASHA PARKS

    We have created a specific Vendor Account for Misc.Credit Card Charges and book most of our travel/other misc. charges under that name. However, would be still very helpful to reflect the name of the Vendor as it shows on our credit card statement. Would it be possible to have the name copy into a reference field on the actual record? 

    Edited by NATASHA PARKS
  • 2
    Avatar
    Tony

    Natasha,

    This is a great suggestion and we plan on including it in the road map.

    Thanks,

    Tony

  • 1
    Avatar
    dustin

    Any update on Natasha's idea? That would be a welcomed feature.

  • 2
    Avatar
    Eric Bicknese

    Would it be possible to use the Bank Connect api feature (Yodlee) to Import Company Credit Card(s) as Expense Reports/Expense lines? We would like this as a feature, or learn if we can work with a developer to build this. Our goal is to replace Concur Expense for our 120 Company Bill/Company pay credit cards

  • 0
    Avatar
    Lloyd Leanse

    I agree with Natasha's and Eric's suggestions.

  • 1
    Avatar
    Lloyd Leanse

    Is auto-matching and reconciliation on the roadmap too? That would be very helpful for us, and we would use it every night so that our bank accounts stayed reconciled all month long.

  • 1
    Avatar
    Marcia Smith

    This feature is definitely something we need to have in order to collect the details of credit card transactions much more efficiently. The generic accounts work but in order to really identify where the expense needs to be posted, we need to have the detailed name brought into the reference field. The current process is painstakingly laborious. Implementing this feature would be a significant time saver. Thanks!

  • 0
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    Sara Cloud

    We need this feature too! Any updates?

  • 0
    Avatar
    Bao

    Hi Sara,

    This feature should be available in our next release, Echinacea.

    Thanks!

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