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.

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.

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.
   
   Note: Once the file has been imported, if you later determine that the Ledger and/or GL Account needs to be changed, use the "Map Financial Institution Accounts to Bank GL Accounts" section of the Bank Settings screen to make the changes for the appropriate Financial Institution and Account Name. 
   
   
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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Release Notes and Schedule

• This article is new with the Jasmine release.