Bank Feeds

Created by Travis Lander, Modified on Thu, 11 Jul at 1:16 PM by Travis Lander

Description

After linking your bank on the Link Banks page, you can book new Journal Entries or link bank transactions to existing Journal Entries from within this feed.

Selecting the Bank Feed

Under Cash Management>Bank Feeds, select the bank feed to review (only banks with a linked SoftLedger Ledger Account will be available to select from the dropdown list).

Please Note that displayed transactions are month-to-date, based on the system date setting in the top right of the screen. In the example above, transactions will populate for Jan 1st through 31st of 2021. based on the selected date.

Bank Feed Table Actions

Once you have chosen an account, you are able to view all the transactions coming from that account for the selected date period:

Book a Journal Entry - Click the + icon at left to book Journal Entries
Book a Cash Receipt - Click the blue + icon to book a Cash Receipt.
Link a Journal Entry- Click the dropdown arrow at left to link a bank transaction to an existing Journal Entry already in the system.
- Matching rules for linked Journal Entries:
  - Existing entry must use same Ledger Account linked to the bank account.
  - Existing entry must be for the same Amount as the debit or credit.
  - Existing entry Posted Date must be within 45 days of the bank transaction Posted Date.

After a transaction has been booked into a Journal Entry, the + icon will change to a check mark icon:

Note: Bank transactions not booked through this process will NOT appear within SoftLedger. This is so you can pick which transactions have a financial impact on your business, and thus want to create journal entries for.

Bulk Actions

You can also book transactions in bulk by selecting the transactions and clicking the checkbox on the far left of their row and then selecting "Book Journals" at the top left of the table and then add Ledger Account/Reference/Dimensions against the Journals to be created in bulk:

You will only be able to choose one Ledger Account when booking in bulk for the debit side of the Journal Entry: