An update has been released, and here is an overview of what was improved in Bankfeed version 19.0.
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An update has been released, and here is an overview of what was improved in Bankfeed version 19.0.
Check out the features of Bankfeed.
Considering our customer requests, we have enhanced the Bankfeed functionality with a new feature allowing users to upload statement lines to the “Bank Account Reconciliation” page, for final transaction reconciliation.
Bankfeed statement lines can be uploaded by clicking “Process” > “Suggest Lines (Bankfeed)”.
Enter the “Starting Date” and “Ending Date” and confirm by clicking OK.
All other functions and processes on this page work in a standard Business Central way.
After extending the bank account connection period to 180 days, we took another step forward and simplified the bank account reconnection.
From now on, users do not need to run the Assisted Setup whenever they need to reconnect bank accounts or remind themselves of the settings they have made before.
To reconnect bank account just click on the button “Reconnect”.
This will open the bank connection page with values you have chosen before (note: values are saved using this “Reconnect” button for the second time after the release update).
Check the values, change them if needed, and click Next, leading to the Bank Authentication process.
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Hello,
I found this Dynamics 365 Business Central add-on that would save me tons of time by automatically importing bank statements and matching payments with invoices.
It has certain technical requirements like an up-to-date Business Central version and banks that comply with the PSD2 open banking protocol. Could you please check the requirements and let me know if we are able to use the Bankfeed app?
The requirements are here: www.bankfeed.com/faq/, or you may contact the add-on’s developers at hello@bankfeed.com.
Bankfeed works as an add-on for Microsoft Dynamics 365 Business Central. Therefore the usage of this ERP system is necessary. The solution works best with the three latest versions of Business Central.
Before installing Bankfeed, we recommend checking if the following conditions are met:
1. Open banking API (PSD2) is not occupied.
If you use online payment provider services (Wordline, Wordpay, etc.), they might be connected through an open banking API. Therefore, Bankfeed will not be able to connect to this API as it is already occupied. In these situations, we can connect Bankfeed through the bank’s direct API, known as a Gateway. However, it usually requires additional banking fees and additional implementation hours.
2. Banks provide the information required for recognition and reconciliation.
Even though open banking is regulated using the PSD2 protocol and is mandatory for all EU banks, the banks treat these requirements differently. The amount of information provided through the APIs and its quality can differ depending on the bank. This can lead to a situation where Bankfeed will not be able to properly identify customers/vendors or documents because of the lack of data.
Here is a list of mandatory bank fields needed to enable Bankfeed’s payment recognition and reconciliation. Please check HERE if the banks you are using provide the information from these fields:
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