Link Banks and Credit Cards

Created by Travis Lander, Modified on Tue, 16 Aug, 2022 at 2:12 PM by Sanjayan Arulsakaran

Description

This page allows you to manage your linked bank and credit card accounts. Once an account is linked you are able to pull in a list of the bank transactions and post Journal Entries based on the returned data.

See this article for a step-by-step guide on how to link your first bank account.

Link Banks Table Columns

The following columns are available for each bank account:

Name - Name of the account, this can be overridden by the "Update Name" action(see below).
Number - Last 4 digits of the account number.
Type - Type of linked bank (e.g. Credit Card, Bank).
Provider - Provider/Institution of the linked bank (e.g. Chase, Wells Fargo).
Status - Latest status from the linked bank (e.g. All Data Received). Hover over the status for more detailed information. This is useful for troubleshooting failed data pulls.
Ledger Account - User-selected SoftLedger Ledger Account to be used when creating Journal Entries from bank transactions.

Linked Banks Individual Actions

Link Ledger Account

Once your financial institution is connected, all accounts will be available to link to a Ledger Account using the link button at right. Linking to a ledger account allows you to import the bank or credit card feed for reconciliation.

Refresh Credentials

Depending on the institution you may need to manually refresh your account data. This could occur if your MFA token expires after a certain amount of time, your username/password has change, or if an unexpected error occurs and you need to retry.

Hide

If you have an account that shows up persistently that you would prefer to never show up again(even if you re-add it, or refresh the provider data). You can click the hide button. Please be aware that this cannot be undone (for security purposes). If you have hidden an account in error and would like to show it again, please contact us (support@softledger.com).

Delete Data

You can delete the linked bank by clicking the Delete icon. Clicking this icon will remove all bank transaction data stored in the bank aggregator. If you have deleted a single account from a provider you can still add it back by following the steps to "Add Bank/CC" above. If you have issues deleting a bank and it continues to show up (happens with certain providers), please use the Hide action above. If you remove all accounts for a set of credentials (Provider ID) the provider will have to be re-added. Transactions that have been reconciled to journal entries will still show as reconciled in SoftLedger even after deleting (and even re-adding) the account.

Link Banks Table Actions

Column Selector - Hide and reveal extra columns and the number of rows visible in the table per page.
Quick Search - Enter text to search the Name column to find a specific bank or credit card account.

Important Considerations

When initially linking banks, regulations prohibits banking institutions from sending transaction data for more than 60 days (some banks will be even less). Once linked, SoftLedger can bring up transaction data historically from the link date up to however far back the bank had originally passed the transaction data. For example, if you linked a bank one year ago, you can view transaction data in SoftLedger for that past one year and 60 days.