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Transfer a Yodlee feed to Sage Bank Feeds

Note: Sage Bank Feeds are not available in Germany.

This explains how to move from the previous Yodlee feed broker used to import and reconcile bank transactions to the new Sage Bank Feeds. To do this you must

  • Reconcile all outstanding items. Make a note of the date of the last transaction that was downloaded. You'll need to set the next date when setting up Sage Bank Feeds to ensure you don't download duplicate transactions.
  • Disconnect your existing Yodlee feed. Bank accounts can only be linked to one feed, so you'll need to disconnect the existing one.
  • Set up a new feed for Yodlee using Sage Bank Feeds.
  • Review and amend the feed rules for Sage Bank Feeds.

Disconnect your existing feed

You will need to remove the link to the bank account from your existing feed.

  1. From System, select the Feed Brokers tab.
  2. Open the Yodlee feed broker.
  3. From the Feeds section, delete all feeds.

Set up your new feed

Sage Bank Feeds is automatically configured per company. If you have multiple companies, you'll only see the banks appropriate for the company you're in when you open Sage Bank Feeds.

  1. From Banks, select the Bank Accounts tab. Select New Bank Feed.

    Tip: If you can't see the New Bank Feed button, then you'll need to install the latest version of the Sage Bank Feed template.

  2. Check your tax registration number and company address code such as a zip code or postcode. This is taken from your company information.
  3. Accept the Terms and Conditions and click Enroll.
  4. Click New to set up a new feed.
  5. Accept the Terms and Conditions for this bank and click Next.

    You must accept terms and conditions for each bank account and company you set up.

  6. Choose the country the bank account is based in, not the legislation of the company.
  7. Enter the name of your bank in the search box and click Search.

  8. Select your bank and click Next.

    See the list of available banks to check if your bank is supported. Banks that use Yodlee are listed as Indirect.

  9. Click the link to go to a web page to authorise Financials to access your account. You usually sign into your bank account and enter your online banking credentials. This process will vary depending on your bank and some processes can take some time.

    Some banks require you to complete a registration form to authorise Financials to access your account. You download the form as part of the sign-up process. Once completed, you send the form to your bank. When the bank has authorised the connection, you can start downloading transactions. This may take several days.

    Once you have completed the form, return to Financials to continue the configuration process.

  10. Choose your Account Type - this the type of bank account you have with your bank.
  11. Check that the currency matched the currency that your actual bank account uses.
  12. Enter a date to start importing transactions from. Set this to the day after your last downloaded transaction from your previous Yodlee feed.
  13. Select the bank record you have set up in Financials for this bank account.:

    If the bank account your want to link the feed to is not listed here, this is because the bank account already has a bank feed set up for it. Disconnect the feed from this account first.

  14. Click Next.
  15. Click OK to complete the process.
  16. Once completed, close this window. you'll need to check back to see when your new bank connection is authorised. :

    To do this, select New Bank Feed again. Once authorised the bank status will show as ().

Configure the bank feed rules

With the new bank reconciliation process, you can now match bank transactions brought in via a bank feed to journals already entered in Financials, as well as create new journals directly from the feed.

This new process matches and creates new journals directly for the corresponding journal type, such as a customer receipt, payment to supplier, simple purchase etc, and no longer posts Bank Transactions journal items.

To accommodate this we have created a new set of feed broker rules. These rules will attempt to match downloaded bank transactions to existing journals in Financials, or create new journals when a match isn't found. When journals can't be matched or created automatically, you can manually match to an existing journal or decide to post a new one, from the bank reconciliation screen.

Once you've set up the Sage Bank Feeds, a new feed is created automatically. You can amend the feed rules to match data from your downloaded transactions to information required to match or create a journal.

To amend the rules, see Configure Sage Bank Feeds.

To amend the rules, see Configure Sage Bank Feeds (France).

Get transactions and reconcile

  1. From Banks, select the Bank Accounts tab.
  2. Select the required bank and click Get Transactions.

Transactions are downloaded from your bank feed. This may take some time.

Where the correct criteria is fulfilled, downloaded transactions are automatically matched or created, depending on your feed broker rules.

Once the download is complete, the new Matching page opens automatically.

Your downloaded bank transactions are shown on two tabs. Any transactions that have been matched or created automatically are shown on the To Confirm tab.

Transactions that still need to be reconciled are shown on the To Reconcile tab.

See Match and reconcile bank transactions

Troubleshooting

 

 

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