Bank Feeds

Bank feeds help you maintain accurate, up-to-date cash balances, and provide the ability to review and clear transactions daily in preparation for reconciliation.

When you use Yodlee to enable bank feeds, you can connect the online bank accounts of your financial institutions to your Financial Edge NXT bank accounts. Once you link accounts, you can automatically download and match transactions from your online bank accounts to transactions within Financial Edge NXT.

Note: We partner with Yodlee, a third-party financial aggregator, to ensure secure online account information and easy reconciliation, quick access to transactions and their statuses, and up-to-date bank account balances in Financial Edge NXT.

Enable bank feeds

Bank feeds are enabled by default. If you select to disable bank feeds, you can enable and link bank accounts at a later time.

From the Bank accounts list in Treasury, select Settings.
Under Bank feed configuration, to enable bank feeds, select Enable bank feeds for bank accounts.
- To automatically match and clear payments during the download process, select Automatch payments.
- To automatically match and clear deposits during the download process, select Automatch deposits.
  
  Once you enable bank feeds, you'll need to connect your Financial Edge NXT bank accounts to their online bank accounts. For more information, see Manage Bank Feeds.
Select Save.

Disable bank feeds

Bank feeds are enabled by default. If you select to disable bank feeds, you can enable and link bank accounts at a later time.

From the Bank accounts list in Treasury, select Settings.
Under Bank feed configuration, to disable bank feeds, deselect Enable bank feeds for bank accounts.

When you disable bank feeds (after previously enabling it, linking accounts, and downloading online transactions), all online bank information, including transactions, is removed from Financial Edge NXT.
Select Save.
Under Disable bank feeds, you can select to Reset matched or unreconciled transactions to Outstanding.
Select Disable bank feeds.

Tip: During initial implementation, you can also disable bank feeds from the Bank accounts list in Treasury. Simply select No thanks, I prefer not to use bank feeds.

Yodlee Terms of Use

You must read Yodlee's Terms of Use agreement before you begin using bank feeds.

Manage bank feeds

After you accept Yodlee's Terms of Use agreement in Financial Edge NXT, you can begin linking online bank accounts to Financial Edge NXT bank accounts. For more information, see Manage Bank Feeds.

Review bank feeds

After you link an online bank account to a Financial Edge NXT bank account, select Refresh to download transactions from Yodlee and generate the bank's feed list. You can do this in two ways.

In the list of bank accounts, select Refresh from the bank row's menu .
From the bank account record, under Online balance, select Refresh.

The feed displays a list of transactions (spent and received) from both the online bank account and Financial Edge NXT bank account. You can unmatch, manually match, or ignore the transactions.

You can access the bank's feed in two ways.

In the list of bank accounts, select Open bank feed from the bank row's menu .
From the bank account record, select the Bank feed tab.

For more information, see Bank Feed List.

Manually manage transactions

When bank feed transactions don't match automatically to Financial Edge NXT transactions, a banner appears on the bank account record to display the number of unmatched transactions. To review and manually match them, select View and match transactions. For more information, see Manually Manage Transactions.

Tip: If you experience issues with missing or duplicate transactions when matching them to Financial Edge NXT transactions, review Missing transactions and Duplicate transactions for help.