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How to get started?
- 22 May 2024
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How to get started?
- Updated on 22 May 2024
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- PDF
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To start using Bankfeed, follow these easy steps:
Install the Bankfeed app into your Dynamics 365 Business Central.
Assign Permission Sets to Bankfeed users.
Create an account and connect bank accounts using the Assisted Setup “Set up Bankfeed Connection”.
For the Bankfeed users, change the role to Accountant.
How to Install the Bankfeed app?
There are two ways to install the Bankfeed app. Here is a manual for both methods; choose the one you prefer.
- The first way to install Bankfeed is through your Dynamics 365 Business Central Extension Marketplace without using external links or websites.
In the Business Central Search, enter Extension Marketplace.
When the page opens, enter Bankfeed in its Search.
Click on the Free trial button.
Confirm by clicking Free trial to continue.
Choose the installation language and click Install.
The installation process may take a few minutes. Once done, you will get a confirmation message.
- Another way to install Bankfeed is through Microsoft AppSource. Open the link, and in Search, enter Bankfeed.
Click on the Free trial button.
Select the environment where you want the Bankfeed app installed and click Install.
Choose the installation language and confirm by pressing the Install button.
The installation process may take a few minutes. Once done, you will get a confirmation message.
The Bankfeed installation link can also be accessed through the Bankfeed webpage - just click on the Get it from Microsoft AppSource button.
What permission sets are needed for Bankfeed?
If a user working with Bankfeed does not have the SUPER permission set, these Bankfeed permission sets must be assigned.
Information
These Permission sets allow you to use Bankfeed without any limitations.
How to set up Bankfeed and connect bank accounts?
Bankfeed has an Assisted Setup that helps users make the main set up and connect bank accounts by themselves. With it, the user does not have to open several different Business Cental setup pages or create an account on external web pages; everything can be done in one setup form.
The Bankfeed Assisted Setup run-through can be viewed in this Video.
If a more complicated setup or some modifications after the Assisted Setup are needed, this manual will explain all setup pages in detail.
After the Bankfeed installation to Business Central, you will be prompted to complete the Assisted Setup.
First, you get a welcome message; click Next.
On this page, in the Journal Type field, you must select the journal you want to use for the statement import. The selections are General Journal or Payment Reconciliation Journal.
If you select the Payment Reconciliation Journal, you do not need to select anything else; click Next.
If you select the General Journal, you must also select the Journal Template Name. Also, select whether you want to import all bank statement transactions or Skip Vendor Payments.
Click Next.
Bankfeed setup is done and the solution is ready to use.
Click Finish.
Now, the bank account connection starts.
Click Next.
If you are connecting for the first time, the Do you have a login? indicator should remain unmarked.
Fill in the information in the fields E-Mail, Password, First Name, Last Name.
We recommend using the general company email for your account, as only one account per company can be created
The password must fit all the security requirements:
Use the "Suggest a password" feature if you are struggling with creating a safe password
If you are connecting for the second time, you should mark the Do you have a login? indicator and enter the E-Mail and Password you created the first time.
When you have filled in all the information, click Next.
You can see your company information (from the Company information page) on the New Company creation. To receive error messages, enter Error E-Mail and click Next.
Warning
It is essential to understand that an organization in Bankfeed can be created only once (VAT Registration No. and Registration No. are checked to be unique). You cannot create the same organization twice (e.g. for Sandbox and Production). The login and organization you create are unrelated to Business Central environments and can be transferred from one to another.
In this step, select the bank you want to connect to. Open the bank list.
Select the bank and click OK.
Click Next.
If the connected bank accounts are multi-currency accounts, select Multi-Currency Account.
Important
Suppose this setup is set for a bank account. In that case, the bank statements of this account containing transactions in different currencies will be split into separate statements, which means that a separate bank account card in Business Central will be required for each currency. Therefore, accounts that are not multicurrency but have the possibility of performing transactions in different currencies do not need to have this setup set (e.g., a bank account with one IBAN and one base currency, EUR).
In the "Bank statement for" part, select the bank statement pattern. It indicates for which period you want to get the bank statements from the bank (Yesterday, Last Month, Period, Today). If you select Period, you also have to enter the Request Frequency and Number of Days (for how many days a bank statement should be formed).
Click Next.
Further, get through the bank connection process, Confirm, and Agree to access the bank information needed.
After the connection to the bank is established, you may be asked to link the connected bank accounts to the existing bank accounts in Business Central.
When the bank is connected, you will get the Well done! message. Click Finish.
Please repeat the same steps if you want to connect one more bank account.
If you can’t fill the Assisted setup immediately after the installation, you can always open the Assisted setup later.
It can be found in the Accountant Role center.
Or by using the Search.
Why should Bankfeed users consider changing their role to Accountant?
The standard Dynamics 365 Business Central Accountant role was supplemented with additional actions, pages and functions, allowing Bankfeed users to access the necessary information and see critical notifications instantly.
To change your role, go to My Settings and select Accountant.
The Bankfeed section was added to the Actions bar. If you expand it, you will find all Bankfeed pages in one place.
In the Activities area you will find Bankfeed pages, notifications and other information:
Connected Bank Accounts – shows how many bank accounts are connected to Bankfeed.
If you click the number, you will see the detailed information about the connected bank accounts.
Statement Lines – shows how many unposted Statement lines are uploaded. If you click on it, the “Statement Lines (Bankfeed)” page will open.
Journal Lines - shows how many unposted transactions are in the journals. Which journal lines will be calculated (payment, cash receipt, payment reconciliation) depends on the journal chosen in the assisted setup.
By clicking the number, you will open the list of the journal batches (if more than one journal batch is used).
Only Bankfeed journal batches are shown.
Bankfeed Errors Today
Log Errors – sshows how many errors the function “Process statement batches (Bankfeed)” had today.
By clicking on it, you will open the “Log Errors” page and will see all the detailed information about the errors that occurred.
Job Queue Log Errors – shows how many errors the Job queue entry, which runs the function “Process Statement Batches”, had today. If you click on it, the job queue log entries with detailed information will open.
Bankfeed Process
Process Statement Batches – this button will run the “Process Statement Batches (Bankfeed)” function.
Bankfeed History
Posted Statement Lines – this button will open the “Posted Statement Lines (Bankfeed)” page.
Statement Batches – this button will open the page “Statement Batches (Bankfeed)”.
Bankfeed Setup
Setup List – this button will open the list of all Bankfeed setups in one place.
Bankfeed Help
• Videos – how-to videos are here;
• What's New – link to What’s New documentation;
• User Manual – link to Bankfeed user manuals;
• FAQ – link to the frequently asked questions.
Information
Using Personalization, you may hide unwanted Bankfeed areas from your Role Center.
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