Direct Bank Connections is one of three ways that Bank Activity can be updated. Click here to learn more about Bank Activity Update Options.
Direct Bank Connections allow you to connect your financial institutions directly to the Bank Activity feature in R365 and automatically download your bank activity transactions. Direct Bank Connections are accessible on the Bank Activity screen and the Bank Account record.
While you will still be able to manually upload .qfx and .qbo files to review you Bank Activity, the Direct Bank Connection feature will allow you to obtain and import your Bank Activity with a single click, all from within R365.
- Note: Bank Activity transactions may potentially be unavailable for import the day of the initial Bank Connection (when the Bank is connected to R365), depending on the Bank in use. This is due to a data aggregation process that runs nightly. Activity retrieval will become fully functional the day after your initial Direct Bank Connection is successfully created.
Security
Users with the following permission will be able to manage Direct Bank Connections:
- Banking → Bank Activity → Manage Bank Connections
Learn more about managing Permissions and Custom User Roles here. The Permission Access report can be used to determine which User Roles or Users already have these Permissions assigned. Learn more about User Setup and Security here.
These Users will need the credentials to each separate financial institution in order to connect the Bank Accounts.
Once connected, Users will not be able to view or modify the login credentials. If the credentials are changed with the financial institution, the User will be prompted to provide the updated credentials during a future activity retrieval.
Navigation
Direct Bank Connections can be managed on the Bank Activity Screen, the Bank Account Record or the Bank Accounts Step in the R365 Setup Assistant.
Connecting Bank Accounts
In order to use the Direct Bank Connect feature, you must first connect your financial institution, and then link it to an existing Bank Account Record. Click here for more information on Connecting Bank Accounts.
Re-Authenticating Banks after Connection
Any change to the Bank Account Login Credentials, or Multi-factor Authentication requirements, will result in your Connected Bank Account needing to be re-authenticated. Click here for more information on Re-Authenticating Connected Bank Accounts.
Bank Accounts with Multi-factor Authentication (MFA)
When using R365 Direct Bank Connections with Bank Accounts utilizing Multi-factor Authentication (MFA), it may be necessary to re-authenticate each time you retrieve Bank Activity. Click here for more information on Bank Accounts with Multi-factor Authentication.
Using Direct Bank Connections with Bank Activity
Once your Bank Accounts have been added and linked, you can begin using your connections in Bank Activity. Click here for more information on Using Direct Bank Connections.
- Note: Bank Activity transactions may potentially be unavailable for import the day of the initial Bank Connection (when the Bank is connected to R365), depending on the Bank in use. This is due to a data aggregation process that runs nightly. Activity retrieval will become fully functional the day after your initial Direct Bank Connection is successfully created.