We understand it might be confusing
at the beginning

How does the installation process look like?

To install Bankfeed and start using the free monthly trial, click the “Free trial” button on the Microsoft AppSource.

The solution is packed with useful tools so that you would be able to install and start using it in a matter of minutes:

  • Assisted setup for bank account connection – HERE is a video on that
  • Assisted setup for general settings – HERE is a video on that
  • Guided tour that introduces you to the fields, pages and functions of Bankfeed – HERE is a video on that
  • HERE is a detailed user manual 
  • Usually for the payment recognition setup, customers ask for assistance from our side. In such a case, please reach out to us at [email protected]
What are the terms for the free monthly trial?

Once the free trial is activated, you can use the full Bankfeed functionality for 30 days.

Is it possible to cancel the subscription?

Because Bankfeed is used on a subscription basis, you may cancel it anytime by emailing us at [email protected].

How can I reach the support team?

If you have any questions, we are here to help. Please send us a message at [email protected].

Which bank formats does Bankfeed support?

Bankfeed supports the most common bank formats worldwide:

CAMT.053 (financial statement import)

CAMT.052 (financial statement import)

How does the reconciliation procedure work?

Financial statement files automatically travel through the API from the bank to Microsoft Dynamics 365 Business Central and end up on a separate table. A register of statements is kept. Payment Journal entries are then automatically created from the statements. During the creation of Payment Journal entries, payment entries are automatically reconciled with the issued invoices (customer identification and reconciliation with the issued invoices is performed). Depending on the settings, the entries will be posted automatically or manually. Unrecognized entries are left in the Journal and can be reconciled manually.

How do amount recognition and allocation work?

Bankfeed searches for open items independently and reliably using pre-defined recognition rules, and all rules are processed serially. After a match is recognized (e.g., customer number, invoice number, transfer subject, amount), Bankfeed creates an entry and jumps to the next bank statement line for further processing.

How high is the payment-invoice matching rate?

The matching rate highly depends on proper system settings, the definition of statement formation, and the quality of data. Typically, Bankfeed achieves a matching rate of at least 95%. Each payment recognition enables continuous improvement and maintenance of recognition and reconciliation rules.

What are the technical requirements for Bankfeed to work?

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:

  • creditorAccount – customer recognition by IBAN
  • creditorId – customer recognition by ID
  • creditorName – customer name comparison when the document is identified
  • debtorAccount – vendor recognition by IBAN
  • debtorName – vendor name comparison when the document is identified
  • endToEndId – document Nos to identify
  • entryReference – document Nos to identify
  • remittanceInformationStructured – document Nos to identify
  • remittanceInformationStructuredArray – document Nos to identify
  • remittanceInformationUnstructured- document Nos to identify
  • remittanceInformationUnstructuredArray- document Nos to identify

*The Revised Payment Services Directive (PSD2) is a set of laws and regulations for payment services in the European Union (EU) and the European Economic Area (EEA). Under this payment services directive, banks and other financial institutions are required to provide APIs (Application Programming Interfaces) for regulated and licensed external services providers, commonly referred to as third-party providers. This practice when banks provide APIs for third-party providers is also known as Open banking.


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