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Availability of new bank integration

  • 2 November 2020
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amirf34
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When will the new integration, announced with 2020 R2, be available?

If it already is, where do we find related documentation?

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Best answer by kratzert 3 November 2020, 22:24

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BenjaminCrisman
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Hi @amirf34! In 2020R2 release notes there are two such mentions of the updated Bank Transations:

http://acumatica-builds.s3.amazonaws.com/builds/20.2/ReleaseNotes/AcumaticaERP_2020R2_ReleaseNotes.pdf

 

Finance: Improved Usability of Bank Transaction Processing (p140)

Finance: Support of Transaction Matching for Invoices (p170).

Is this the functionality you are describing?

 

kratzert
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Hi @amirf34 

@BenjaminCrisman is correct, this is released with 2020 R2. 

One bank account is included in your base Acumatica licensing for Electronic Bank Feeds and the integration uses Plaid as the data aggregator. You can see if your bank is supported by visiting this website and entering in your bank Name, here is a link: https://plaid.com/demo/?countryCode=US&language=en&product=transactions

Additional bank account feeds are available to be licensed a la carte. Please contact your partner for pricing. Cheers! 

Tanya

TanyaK
amirf34
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Thanks for your informative response, @BenjaminCrisman, but my question pertained to the direct integration with banks, eliminating the manual export/import process of bank transactions.

Thanks for your response too, @kratzertresponded, but I still don’t know about the availability (timewise) of this service and any documentation (from Acumatica) about activating and implementing it.

Amir

kratzert
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@amirf34 
The service is available NOW as long as you are on version 2020 R2. One bank account feed is included with the core solution. Documentation is available on this site: https://community.acumatica.com/supported-releases-67/acumatica-2020-r2-downloads-and-release-notes-642 
I do not believe there is a license key, but you will have to enable via system admin. Please reach out to Acumatica if you have additional technical questions. 
Good luck! 

Tanya

TanyaK
amirf34
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Tanya,

I keep getting referred to the 2020 R2 release notes (and yes, we’re on that version), which I scoured before my original post. I still can’t see anything about this new service.

I’ll open a support case and share any useful findings here.

Amir

J
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Amir,

I have been wondering the same thing and in reading through this post I think the key is Tanya says ‘...but you will have to enable via system admin’.  I looked under the enable/disable features but could not find anything in there or anything in the Activate License area so I am going to reach out to Acumatica as she suggested.

 

J
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There is a $650 one time implementation fee that you have to order first before you can setup the bank feed.

 

 

Doug Johnson
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Today we published the customization project along with some additional information here: 

 

kratzert
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@jslusher77  Yes, correct, this is the once piece of information I was missing and just confirmed yesterday. Due to the relationship agreement with the ISV (EIS), there is a one time set up fee of $600. The fee will cover the set up of both Expense Management and Bank Feeds. If you choose to only set up one now and at a later date implement the other, an additional $600 one time set up fee will be incurred. 

TanyaK
DavidEichner
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Has anyone else had problems with bank feeds not working in the Sales Demo company?  Here’s the error message I get when I click CONNECT button:

“The bank feed service (path: 0/plaid/link/token/create) returned the following server error: Forbidden.”

David Eichner, CPA - If I helped you, please *Like* my post/reply. If I provided an answer to your question, please mark it as *Best Answer*.
kratzert
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@DavidEichner - You need to submit the request to your PAM (with Sales demo URL) and they will unlock for you in your sales demo environment. Good luck! 
 

TanyaK
Doug Johnson
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Bank Feeds is now included in the core product. Connecting to the bank feeds services requires a valid Acumatica license with a special key. The special key enables you to utilize the Acumatica Cloud Connection Service to reach the providers which deliver bank feed data. This license is unrelated to the SalesDemo data.

Currently this requires a live bank account. We are working to deliver a separate environment which can connect to test data for demonstration purposes. The demo environment will be a future (yet undetermined) release.

DavidEichner
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Hi Doug,

Even with a valid license, I get an error as soon as I click Connect button.  It doesn't even allow me to try to connect to a live bank account.

 

For clients coming off QB wanting to be sure that Acumatica bank feeds will work for them as expected, I really need to be able to at least show the Plaid or MX screen pop up.

Best,

David

David Eichner, CPA - If I helped you, please *Like* my post/reply. If I provided an answer to your question, please mark it as *Best Answer*.
kratzert
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@DavidEichner  - we demo Plaid with a sandbox, though not with a live bank account. Here are the instructions for setting up the demo environment:  https://plaid.com/docs/sandbox/test-credentials/ 

TanyaK
DavidEichner
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How do we connect bank feed to use the Plaid sandbox?  When I try to connect, I get the following error:

 

David Eichner, CPA - If I helped you, please *Like* my post/reply. If I provided an answer to your question, please mark it as *Best Answer*.
DavidEichner
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Update to previous post: 

Level 2 Support identified that the issue was a problem with our license. Thank you Ekaterina!

Even though the license showed Bank Feeds on the license and allowed me to enable it, there apparently was something else that needed to be done on the license by Acumatica.

If you have a similar issue, submit a support request and they should be able to make the change on the license on their end.  After that, you just need to click the Update License button on the Activate License screen.

Best,

David Eichner, CPA

David Eichner, CPA - If I helped you, please *Like* my post/reply. If I provided an answer to your question, please mark it as *Best Answer*.
kratzert
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@DavidEichner  - Glad you were able to resolve. Happy demoing! 

TanyaK
DavidEichner
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Next question:  what bank and user credentials should we use for demos?

David Eichner, CPA - If I helped you, please *Like* my post/reply. If I provided an answer to your question, please mark it as *Best Answer*.
kratzert
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I don’t do our presale demos, but I do participate. :-)

Try these: 

https://plaid.com/docs/sandbox/test-credentials/
https://plaid.com/docs/sandbox/institutions/
 

TanyaK

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