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    Bank Activity Page
    • 26 Nov 2024
    • 7 Minutes to read
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    Bank Activity Page

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    Article summary

    Bank Activity simplifies matching bank statements to transactions in R365. With bank activity, users can create new deposits, withdrawals, and AP payments based on data provided by the bank. The bank activity feature also speeds up the bank reconciliation process. Each transaction that is matched in bank activity is marked as reconciled when a bank reconciliation is created. Learn how to complete the Bank Activity process.

    If Rule Vault is not enabled in System Preferences, the Rule Vault option in the top ribbon is replaced by the Bank Rule tab.


    Bank Activity Page

    Buttons and Fields

    Field

    Description

    Upload A File

    Allows the user to upload a .QBO or .QFX file to manually update bank activity for the selected account.

    Manage Bank Connections

    Allows users to link, unlink, add, or delete the bank accounts that are connected to R365.

    Undo File Upload

    Removes all bank activity that was imported from the last file uploaded.

    Rule Vault

    Opens the Rule Vault in a new tab.

    Bank Account

    When a checking account is selected from the drop-down, the Bank Activity page updates to display corresponding data.

    Retrieve Activity

    Refreshes the page to update transactions.

    Customized Activity Retrieve

    Retrieves bank activity for a specified date range.

    Remove All Unmatched

    Excludes all unmatched transactions and moves them to the Matched/Excluded tab.

    Transactions on the Matched/Unmatched tab are deleted after 10 days. Excluded transactions can be included and moved back to the Unmatched tab by selecting Include in the transaction row.

    Reapply Bank Rules

    Reattempts matching bank rules to transactions. This button is often used after making changes to bank rules.

    Connection Status

    Displays the current connection status of the selected bank account.

    Tabs

    Changes the view to display one of the following tabs: 

    • Unmatched

    • Rule Applied

    • Matched / Unmatched

    • Bank Rule

    Last Activity Upload Date

    Date when bank activity was last updated for the selected account.

    Export

    Allows the user to convert bank activity data to a spreadsheet file and download the file to their device. 

    + Size / - Size

    Changes the length of the table.

    • - Size makes the table shorter to display fewer rows per page.

    • + Size makes the table longer to display more rows per page.

    Select Command / Save Changes

    On the Unmatched and Rule Applied tabs, the Select Command drop-down is used to add, exclude, or delete the selected rows. On the Bank Rule tab, the Save Changes button appears and is used to save changes made on the tab.


    Unmatched Tab

    The Unmatched tab displays all remaining bank records that did not automatically match to existing transactions or bank rules.

    Columns

    Column

    Description

    Expand details

    Displays a breakdown of the transaction.

    Select

    Allows users to apply actions to multiple rows.

    Date

    Date of the transaction.

    Amount

    Amount of the transaction.

    Name

    Name of the transaction.

    Type

    Indicates whether the transaction is a debit or a credit.

    Comment

    Displays any comments or notes associated with the transaction.

    Vendor

    Vendor involved in the transaction.

    Account

    GL account used to complete the transaction.

    Location

    Default location for the bank account.

    Multiple matches

    An M in this column indicates that there are multiple possible matches for the bank activity. Expand the transaction row to view all possible matches.

    Add

    Creates a simple deposit or withdrawal record using the GL account and location from the transaction. 

    Withdrawal / Deposit

    Opens the Bank Deposit or Bank Expense record where the user can create a deposit or withdrawal record and can assign multiple GL accounts or locations if needed. 

    AP Payment

    Opens the AP Payment record where the user can create a new payment from the transaction.

    Add Rule

    Creates a new bank rule. When a new transaction appears in Bank Activity that includes the same text in the Name or Comment fields as the selected transaction, the rule is applied, and the transaction moves to the Matched tab where a deposit or withdrawal can be easily created.


    Rule Applied Tab

    This tab shows all bank records that matched to existing bank rules. The system matches records to bank rules during initial upload of bank activity. If a rule is created or modified, refresh the page or select Reapply Bank Rules match activity with the new or updated rules.

    Column

    Description

    Select

    Users can take action on multiple rows by selecting the checkboxes in this column.

    Date

    Date of the transaction.

    Amount

    Total amount of the transaction.

    Name

    Name of the transaction, as listed by the bank.

    Type

    Indicates whether the transaction was a debit or a credit.

    Vendor

    Vendor involved in the transaction.

    Account

    GL account used to complete the transaction.

    Location

    Default location for the bank account.

    Add

    Creates a simple deposit or withdrawal record using the GL account and location from the transaction. 

    Withdrawal / Deposit

    Opens the Bank Deposit or Bank Expense record where the user can create a deposit or withdrawal record and can assign multiple GL accounts or locations if needed. 

    Add Rule

    Creates a new bank rule. When a new transaction appears in Bank Activity that includes the same text in the Name or Comment fields as the selected transaction, the rule is applied and a deposit or withdrawal is automatically created.


    Matched / Excluded Tab

    This tab displays matched or excluded transactions. Matched records are moved to this tab during the initial upload of Bank Activity. If a record on this tab should not be matched or excluded, select either Unmatch or Include, respectively, in that row.

    • Matched- A record downloaded from your bank that has a corresponding transaction in the system for the same amount and same bank account. Records can also be matched manually and created as new transactions from the Unmatched tab or Rule Applied tab. Creating a new transaction from bank activity automatically matches the record to the transaction and moves it to the Matched tab.

    • Excluded- Any record that was not intended to be downloaded from the bank or that has already been reconciled.

    Column

    Description

    Unmatch / Include

    Reverses the match or exclusion.

    Name

    Name of the transaction.

    Memo

    Displays the comment attached to the transaction, if available.

    Amount

    Total amount of the transaction.

    Date

    Date of the transaction.

    Type

    Indicates whether the transaction was a debit or credit. 

    Matched Transaction

    Transaction that matched to the rule.

    Rule Applied

    Displays the bank rule number and name that was applied to the transaction.


    Bank Rule Tab

    If Rule Vault is enabled in System Preferences, the Bank Rule tab is replaced with the option to access the Rule Vault from the top ribbon.

    The Bank Rule tab displays all existing bank rules. A bank rule includes the specifications of a transaction created in Bank Activity in the past. When a rule is set up for a specific transaction, each time that transaction comes through Bank Activity, such as a monthly bill, it is automatically matched to the corresponding rule. The rules exist in the Bank Rule tab or in the Rule Vault and can be modified or deleted at any time.

    Column

    Description

    Name

    Name of the bank rule.
    By default, the Name is the same as the name on the Bank record used to create the rule, but the name can be modified by selecting the cell and entering a new name.

    Type

    Indicates whether the rule creates a withdrawal or a deposit. 

    Bank Account

    Bank account to which the rule applies. If All is selected, then the rule applies to all accounts. To apply a rule to multiple (but not all) accounts, a rule must be created for each account.

    Condition

    Determines how strictly the transaction must match the conditions of the rule.
    For example, if Name Equals is selected, the Name must be an exact match to the text in the Value cell. If Name Contains is selected, the Name can be any variation that contains the text entered in the Value cell.

    Value

    Text value that the rule tried to match to the Name field on the transaction.
    Depending on the selected Condition, the value can be simplified, so instead of an exact name (i.e., 'Sprint #05918'), it can be a more generic name for matching purposes (i.e., 'Sprint'). With the generic value, the Condition can be set to Name Contains, and then during the auto-match process, any transaction with a name that contains the word 'sprint' will be moved to the Rule Applied tab for further review.

    2nd Condition

    Determines how strictly the transaction must match the conditions of the rule, applied in addition to the first Condition to further filter results.
    For example, if Name Equals is selected, the Name must be an exact match to the text in the Value cell. If Name Contains is selected, the Name can be any variation that contains the text entered in the Value cell.

    2nd Value

    Text value that the rule tried to match to the Name field on the transaction, applied in addition to the first Value to further filter results.
    Depending on the selected Condition, the value can be simplified, so instead of an exact name (i.e., 'Sprint #05918'), it can be a more generic name for matching purposes (i.e., 'Sprint'). With the generic value, the Condition can be set to Name Contains, and then during the auto-match process, any transaction with a name that contains the word 'sprint' will be moved to the Rule Applied tab for further review.

    Vendor

    Vendor to be added to the withdrawal or deposit record for transactions that match this rule.

    Account

    GL Account to be added to the withdrawal or deposit record for transactions that match this rule.

    Location

    Location to be added to the withdrawal or deposit record for transactions that match this rule.

    Delete

    Deletes the bank rule.


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