Can't link NAB Bank Feed to Savings Account in Reckon One

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  • Updated 2 years ago
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I've been notified by email that my NAB BankData feed is active. I've tried to follow the Next steps instructed. The titles don't match exactly, but have managed to find 'Connect to your Bank'
When I click on 'link' I'm only given the option of the Visa Card, not the Savings Account the feed is for. I'm paying for BankData Lite
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Thomas Ross

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Posted 4 years ago

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Qwerty

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Hi Thomas,

I've seen a similar community post regarding this behaviour in the past. For that particular user, it was due to them using the system default bank account called 'Cash' as their business bank account in the application & wanting to also link a bankfeed but couldn't. I recall they renamed the 'Cash' bank account as their own business bank name and were using this for their transactions.

There are two ways to check if this scenario applies to yourself.
1. View your bank account list and check if you have any accounts named 'Cash' (check both the open and the closed tabs).
2. Edit the bank account that you cannot link a bankfeed to & check if the account number and BSB fields are available.

If the answer is no to both questions then my guess is that you are in the same situation.

Each book created in Reckon One has a system default bank account named 'Cash'. This account can't be deleted (but it can be closed if you don't require it). This account can't be used for bankfeeds and won't allow you to assign an account number or BSB info when editing the account.

So if the above does apply to yourself then the solution is to do the following:
1. Create a new bank for your business purposes
2. Link your bankfeed to this bank
3. Any existing transactions entered in the 'Cash' account will need to be edited so that they use the bank account created in step 1 (i.e. you need to move those transactions out of the cash bank to your business bank)
4. Rename the 'Cash' bank account back to 'Cash' so you won't be confused by it in the future
5. Once you have moved all the existing transactions out of the 'Cash' bank account you can either use the cash bank account as an account for tracking cash or close it if you don't require it (remembering that it can't be deleted due to being a system account).
(Edited)
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Iain

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YEs. I know this ones old but I did exactly the same thing. Thanks for posting.
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Thomas Ross

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Thank you so much. Yes it's exactly as you say. I'd almost given up in the early hours of this morning & set up a new bank account (in the same book) and it worked. Didn't understand why, but now I know what to do with the other account:)
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Michael O'Keeffe

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Hi Guys, thanks so much for this. I have created the new account so I could link my bank account. Is there anyway to transfer all the entries from 'cash' over to my new account?
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John G, Information Support Analyst

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Hi Michael,

Welcome to the Reckon Community.

Unfortunately you cannot transfer transactions from the Cash account to a Bank account.  

A workaround is to rule off your Cash account for your bank transactions and journal the balance from the Cash to the Bank account and continue there.  

Hope this workaround is acceptable to you.


regards,
John
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Michael O'Keeffe

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Thanks John. Will this effect overall reporting at the EFY? 
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John G, Information Support Analyst

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Hi Michael,

It shouldn't as you will be bringing the Balance on the Cash Account to 0.00 and shifting it to your new Bank Account.  Just remember your transactions will now be in two accounts, but as the reporting year passes it should no longer matter. .

regards,
John
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Fedupwithreckon

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How ridiculous! Why don't they tell you this stuff when you first set up, like 'hey don't use this dumb cash account or you'll have to start again when you do a bank feed'??
Reckon smart? Reckon not.
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Fedupwithreckon

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Solved:
Switch to Quickbooks online. It is easier to learn, fun to use, and links to any bank or paypal account with a few clicks. A brilliant no-nonsense alternative to all this technical confusion.
(Edited)
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Sylwia

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and is also a lot more expensive..some of us are start ups and are here because we need to be