As of the 13th March 2020, Clear Books’ bank feeds have been replaced by new direct feeds using Open Banking, provided by a third party called Plaid. If you created a bank feed before this date you will need to relink your existing legacy bank feed as described in this guide. Legacy bank feeds were previously called Yodlee bank feeds.

 

If you have never set up a feed in the past or want to create a new feed, follow this guide: 


How to setup automatic bank feeds 

Step 1.

 

To set up your first bank feed, navigate to the Money > Bank accounts menu and once there click on the manage bank feeds button


Step 2.

 

Read the initial introduction on how the bank feeds work, and then read and accept the Consent.


 

 

Your legacy feeds will be shown with a message that they are disconnected, and a marker icon that they were a legacy Yodlee feed.  Click on the Reconnect button below the feed you want to reconnect. 


 

A pop up will appear explaining that you are giving consent to Plaid, our third party provider, to access your bank data and share it with Clear Books. Your consent will last for 90 days, and Clear Books will prompt you when you need to provide consent again. Click Continue.

 

Step 3.

 

Select your bank. 

 

 

Select your bank’s logo if you have a business account with that bank.  Specific instructions for that bank will be displayed - verify that the correct account type is shown, and if you have a different account type than is shown, you may need to search for it.

 

If your bank’s logo is not shown, search for it by name.

 

After selecting your bank, you will see instructions from your bank. Each bank’s instructions will be a bit different; this will usually open in a new browser tab or window, or may require you to also use your bank’s mobile banking app.

 

Follow the instructions provided by your bank to complete their authentication process.

 

Depending on your bank, they may require you to complete additional steps, such as selecting the accounts you'd like to share access for, enter an SMS they send you, enter your card PIN, or to use your card reader device.  Some banks even let you add a short description for your own reference.

 

Once this is done return to Clear Books. 

Step 4.


Your accounts will be displayed, similar to the image below, but in a colour similar to that of your bank’s brand. Again, select the accounts you would like to set up the feed for. Click Continue to complete.

 

Step 5.

 

You will now be returned to Tools > Integrations > Bank Feeds and can see all your feeds on screen. 

 

Once reconnected, your legacy feed will be removed. 

 

To restart the feed and import your transactions that happened since your last import, link your new feed to the appropriate Clear Books bank account.

 


Click on the Link to an account text to link the bank account from the feed to the appropriate bank account in Clear Books. This will define which Clear Books account, listed under Money > Bank accounts, will receive the transactions from this feed.


Select the Clear Books bank account from the drop-down list.  The start date of this will default to the date of the last transaction you have imported from your legacy feed. You can override this if need be by changing the date in the field, however, we strongly recommend you keep the default date.

 

FAQs specific to re-connecting a feed

Can I import my historic transactions?


Yes.  Historic transactions will be imported for transactions with a date on or after the start date you chose for the feed when linking the feed to your Clear Books bank account.  This date is pre-populated for you with the date of the last transaction that was imported via your legacy feed.  This means you won’t have a gap in your transactions.

Will there be any gaps in my feed?

 

When you reconnect and link your bank feed, Clear Books will set the default start date to the date of the last transaction imported into Clear Books for that bank account. Transactions that occurred on or after this date will be imported. You can select a different date if you wish, but using the start date that is set by default will prevent gaps in your feed. 

Will there be any duplicate transactions?

 

We recommend you check your information for duplicate transactions.

 

Reconnecting your feed will import your transactions using the new feed, regardless of whether those transactions were already imported using the old feed. We recommend that you check for duplicates.

 

Tools Clear Books provides you to help you check for duplicates include:

  • Bank reconciliation - see guide on how to Manually reconcile a bank account

  • You can view the two statements side by side, to help find transactions that appear in both imported statements

 

In the event that you have duplicates, you can delete the duplicate transactions from either the old or new statement, or you can delete the entire old statement.  We recommend that you don’t delete the entire new statement.

Why do my bank import rules no longer apply automatically?


With the switch to Open banking some descriptions may appear differently on your imported statement to how they did with our legacy feeds. This means the bank import rule will no longer be applied as it cannot find the search term used for said rule. For example, some banks may add the ‘transaction date’ in the text description for each transaction.

If this is the case, you may need to update your bank import rules to recognise the new updated description for these transactions.



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