I have just set up bank feeds, done my first download, and I need help??

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I have just started bank data feeds, did my first lot on import, sorted them.  I have no Idea what a rule is.  I have no idea if this is meant to save me time, or be anything other than an automatic check of my manual entries.  I thought It would downlaod my feeds and sort a majority into where they end up each month, eg. similar transactions.  It doesn't even seem to match my invoices to payments received.  What is the point of this or am I just wasting money and time??I have tried watching video's but they make no sense. Can someone please give me some proper videos that work, or just tell me the truth am I watsing my time with this feature and should I just be doing manual entry, because I can't see this saving anytime or being anything good, unless I've just got it all wrong, your help will be greatly apprecitated,
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Jim Smith

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  • little frustrated

Posted 7 months ago

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John G, Information Support Analyst

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Hello Jim

Thanks for asking.

Rules are the way you tell the transaction information from the bank (who do not know anything about your accounting procedures) how to appear in your Book.

You can setup a Transaction Rule to assign a bank transaction from a particular party, for a particular amount, or a text string, to be assigned to your ledgers in a particular way.  This transaction will be highlighted in the New tab of your bank ledger account with a green box.  Just click on the Reconcile button to accept it.  If this transaction needs adjustment you can do so before accepting it.  

The natural processes of importing transactions search for a match between the incoming bank transaction and an existing un-reconciled entry in the bank ledger, and if found will highlight it with a yellow box.  Clicking on Reconcile will match this downloaded transaction to the existing entry and not duplicate it.   Imported transactions are matched if they correspond with Date, Amount and Payee.  If all three aspects don't correspond, and there is no Transaction Rule applicable, the transaction will be left for you to process manually.   You can always ignore matches and rules process them manually.

Auto-matching and Transaction Rules also apply to any manually uploaded file.

Hope this helps.

regards,
John.
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Jim Smith

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Hi John, Sorryt but this Is not what I see.  There is no green box, or yellow box.  I just have this horrible split screen.  How do I get into what you are talking about.  Do you have any links to video's on how to do all this?
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Rav, Community Manager

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Hi Jim,
Can you please upload a screenshot of the options you are presented with. Use the camera icon in the reply feed to upload an image. Feel free to redact any sensitive information. 
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Jim Smith

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Hi Rav, I am having a lot of trouble with all this.  Forget my last question for the moment, I cant even get bank feeds at the moment. 
The main problem I have now is.  Everytime I try to import bank data.  It says that It does not recognise baka data password or login.  So I go to bank data, separate screen and try to log into bank data.  It doesn't allow me to on the most recent password they have supplied me.  So I have to reset password again.  Then I use this to log into my bank data.  Then I go back to reckon hosted and reset the password in banking preferences.  Then when I ask to download transactions, it works a bit further in the process, gets to the download number of transaction parts, but says no transactions available.  But I know by looking at my bank, there is transactions.  It has been 4 days now since I last tried to get to this same point.  If I sign out now and logon tomorrw I will have to do the reset bank data password all over again.  You don't understanding how frustrating this all is.  I should be able to get bank feeds, and just move them into boxes etc.  I have probably spent 8 hours to date trying to set up live bank feeds.  I have managed to get on feed done to date.  I'm close to leaving accounts hosted, can you please help me....
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Jim Smith

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I have a westpac account and bankdata is using a yodlee address number
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Jim Smith

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Hi John, Sorryt but this Is not what I see.  There is no green box, or yellow box.  I just have this horrible split screen.  How do I get into what you are talking about.  Do you have any links to video's on how to do all this?
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John G, Information Support Analyst

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My apologies Jim, those instructions were for Reckon One and not Reckon Accounts.  The videos for RA are:

Process Imported Bank Transactions

Create Transaction rules

Apply Transaction Rules

In short, to add as a new transaction, highlight a transaction in the lower screen (Downloaded Transactions) and click on Add one to Register and follow the prompts to add the transaction.

If the transaction already exists in the bank register, highlight it in the upper section and then select the matching transaction in the lower section and click on Match.


regards,
John.
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Jim Smith

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Hi John, I am having a lot of trouble with all this.  Forget my last question for the moment, I cant even get bank feeds at the moment. 
The main problem I have now is.  Everytime I try to import bank data.  It says that It does not recognise baka data password or login.  So I go to bank data, separate screen and try to log into bank data.  It doesn't allow me to on the most recent password they have supplied me.  So I have to reset password again.  Then I use this to log into my bank data.  Then I go back to reckon hosted and reset the password in banking preferences.  Then when I ask to download transactions, it works a bit further in the process, gets to the download number of transaction parts, but says no transactions available.  But I know by looking at my bank, there is transactions.  It has been 4 days now since I last tried to get to this same point.  If I sign out now and logon tomorrw I will have to do the reset bank data password all over again.  You don't understanding how frustrating this all is.  I should be able to get bank feeds, and just move them into boxes etc.  I have probably spent 8 hours to date trying to set up live bank feeds.  I have managed to get on feed done to date.  I'm close to leaving accounts hosted, can you please help me....
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Jim Smith

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I have a westpac account and bankdata is using a yodlee address number
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John G, Information Support Analyst

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Hello Jim,

Reckon Online products follow single sign-on policy so your sign-on credentials for both Hosted and Bankdata will always be the same.  A change of password on one product (Bankdata) flows through to other products (Hosted).   Whenever you change your password make sure you update the password field in Banking Preferences in your company file. 

We have transactions for you from 16/6 through to 28/9.  If you have transactions after that date that are not showing you should force an update by clicking on the link in the Status column on the Bank Feed Management screen and re-entering your bank login credentials.  Also, ensure all details are entered correctly on the Online Bank Details tab of your bank ledger account. 

For further support on bankdata matters please correspond with the bankdata unit directly on bankdata@reckon.com.


regards,
John
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Jim Smith

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Hi John, Thanks for that.  There was nothing about same password being for both reckon hosted and bank data when they sent me a new password when setting up Bank data.  Unless ive missed it I find it ridiculous that they would send me a new password for bank data on setup and say nothing that It is now new password for reckon hosted also!
As for my bank feeds, I have done everything you have said.  The details are the same as when I got the original feeds, and It's still saying no transactions to download.
As for the status column on the bank feeds manangemnet screen, I dont know where this is.  I am using reckon hosted.  Cheers
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John G, Information Support Analyst

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Hello Jim,

I'm sorry that the word about single sign-on did not get to you at some stage of your involvement with Reckon – we have noted the confusion no mention of it in confirmation emails is causing people..  If you had Hosted at the time of signing up for BankData you would not have been given a second password.  

You view your BankData record on the Bank Feed Management screen on the bankdata website: bankdata.reckon.com.  You'll also see your YodleeID there too.

Refer to our guide for BankData in Reckon Accounts here for answers to configuration of bank account information and for downloading.  

I have sent through to your email a list of transactions we have received for your account.  


regards,
John