Bank Direct Connect - Financial File Import

Overview

The Financial File Import utility is accessible by clicking the Import File button on the Bank Transactions screen. This provides the ability to import a financial file for uploading Bank Transactions.

The Financial File Import is an easy to use wizard for uploading and importing a financial file. Once the import process is complete, the newly imported transactions will be available on the Unmatched Bank Transactions tab and the All Bank Transactions tab.

Up to 500 Bank Transactions can be imported from a single import file. 

Note: Only one file can be imported at a time. 

The Financial File Import utility supports the OFX (Open Financial Exchange) and QFX (standard OFX with additional licensing information) file formats. These file formats are available for download from certain bank and credit card companies.

Note: If you are outside of the United States, before importing the file into the new BDC Financial File Import, you need to convert the CSV file from your Financial Institution to an OFX file. The Bank2CSV program can be used for this conversion.    

Important: If you download Bank Transactions using our service provider (Yodlee), it is possible to import those same Bank Transactions using the import file process. Therefore you should ensure that the Financial File Import (OFX or QFX file) is filtered properly to avoid duplicate Bank Transactions. 

Import Foreign Bank Transactions

The Financial File Import utility provides the ability to import foreign Bank Transactions. Foreign Bank Transactions consist of transactions that are in a different currency than the Ledger currency. Source records created from foreign Bank Transactions or matched to them will be in the same currency as the foreign Bank Transactions. The GL Transactions created from the source records will be converted into the currency of the Ledger.

Do you want to:

• Import a Financial File
• Import a Financial File with Transactions more than 90 days old
• Review OFX/QFX Guidelines

Import a Financial File

1. Navigate to Accounting Home and under Banking, click Bank Direct Connect. The Bank Transactions tab displays.
2. Click Import File. The Financial File Import dialog box displays.
   
   
   
   
3. Select of the following:
   Note: Only one file at a time can be imported. 
   1. Upload Files - navigation to the location of the file that you want to import.
   2. Drop Files - drag and drop the import into the Select File box.
      
      
      
      
4. When the file has been uploaded, click Done.
   
   
   
   Note: The spinner might display briefly while the file is verified.
   
   
   
   
5. When the File Verified message displays, click Next.
   
   
   
   
6. If this is a new import, click the Lookup icon to search for and select the Ledger and the GL Account.
   
   
   
   Note: If this is an import file that was previously imported, the Ledger and GL Account will automatically display. You can modify the Ledger and GL Account, if necessary, but only new Bank Transactions will be affected. Transactions will only match source records that are found for the selected Ledger and GL Account.
   
   
7. Click Import. The imported Bank Transactions display on the All Bank Transactions tab. If any of the transactions are unmatched, they will display on the Unmatched Bank Transactions tab. 

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Import a Financial File with Transactions more than 90 days old

When you import a file with Bank Transactions that are more than 90 days old, the GL Account Mapping (GLAM) record for the import will need to be updated so that the Initial Start Date is before the earliest transaction being imported. 

1. Use the steps in the section above to import the Financial File. This will create the GL Account Mapping (GLAM) object.
2. From the App Launcher, enter GL in the search textbox. Then, click GL Account Mappings. 
   
   
   
   Note: If the GL Account Mapping (GLAM) is not available from the App Launcher, it will need to be added as a new tab. Access the Setup icon, enter Tab in the search textbox and select Tabs. Then click New to add the new tab. 
   
   
   Note: Click here to view the above image in full screen. 
   
3. From the GLAM list view, select the recently added GLAM. Then, with the GLAM record displayed, click Edit. 
4. From the Initial Start Date, click the Calendar icon to edit the date to make it earlier than the oldest transaction's date. 
   
   
   
   Note: If the Initial Start Date does not display in the Edit GLAM dialog box, you will need to manually add this field. From the GLAM record, access the Setup icon and select Edit Object. Then, select Page Layouts and select the GL Account Mapping Layout. Drag and drop the Initial Start Date field on to the page and click Save. Refresh the GLAM list view and click New. The Initial Start Date field will be included on the Edit GLAM dialog box. 
   
   
   Note: Click here to view the above image in full screen. 
   
5. Re-import the Financial File. 

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OFX/QFX Guidelines

If the import is not picking up the <NAME> field, it might be because it was split into two or more lines. The entire value needs to be on one line. If it spans multiple lines, the <Name> value lines will need to be combined into one line. See the example below.

Old (two lines):

<NAME> this is the value for the N

AME field. </NAME>

New (one line):

<NAME> this is the value for the NAME field. </NAME>

When a file is imported and records are missing (not imported), the issue might be related to the <FITID> field value being a duplicate of another record. A record with a duplicate <FITID> will not be imported.  If there are duplicates, we recommend updating the <FITID> of the record that was not imported by adding  .1 or .2 or a similar value. See the example below.

Two transactions had the exact same FITID of <FITID>21003-807.01.2021</FITID>. The first record was imported. The second record was not because it was a duplicate of the first record that was already imported. Change the <FITID> of the second record to <FITID>21003-807.01.2021.2</FITID>. After making the change, re-import the Financial File. 

Note: Any record that has already been imported will not be re-imported when the file is processed again.

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Release Notes and Schedule

• This article was new with the Jasmine release.