Handling Online Banking and BankData in the one company file

Legacy KB ID: 5311

Question

How do I configure by bank ledger accounts to handle both Online Banking and BankData downloads?

 

Answer

The bank ledger account receiving transactions from Bankdata must have the Branch Code (BSB number) field entered in the format 012123

The bank ledger account initiating payments through the ABA system (online banking) must have the Branch Code (BSB number) field entered in the format 012-123.

Subsequent ledger accounts for the same account number must use another divider other than “-“, like * (asterisk) or # (hash)

 

The Issue

Accounts Business can only have one bank ledger account with a particular account number.  This will be problematic if you use one or more “clearing accounts” for the same bank account number to process special transactions,

As the ABA file processes information a little differently to Accounts Business it is possible to “fool” Accounts Business and show the same bank account number as different account numbers. 

 

Workaround

In your second bank account, Online Bank Details tab, add a character into the Branch Code to make it look different to the first bank account:

eg: 012123 can be listed as 012-123, 012*123 or 012#123 and will be viewed by Reckon Accounts as different bank accounts.

When you create the ABA file, any special character will be replaced with a ‘ – ‘. 

If you are downloading bank and credit card transactions via BankData, then the bank ledger account that receives that download must not have any special characters in the Branch Code field – that is, you must enter 012123 only.

 

If this process fails to change the BSB number

Either:  Create a new ‘second’ account

1.    Turn off online access to the ‘second’ account

2.    Rename the existing ‘second’ account to another name

3.    Create a new ‘second’ account with the original name

4.    Change the other name back to the original name

5.    Choose Yes when asked Do you want to merge the two accounts.

6.    Turn on online access and enter the modified BSB number

7.    If necessary, change the BSB number in the IIF file

 

Or:  make the change in an IIF file.

1.    Click on File, Utilities, Export and then Lists to IIF Files

2.    In the Export Window, tick Chart of Accounts and click OK

3.    Name the file and save to your Desktop

4.    Open the IIF file with Excel

5.    Scroll down to the bottom of the file to the !QB ONLINE section

6.    For your second bank account, enter in the modified BSB number in the ROUTNUM column – that is 012*001 or 012#001

7.    If you do not have a second bank account, copy the first bank account to the second line then change the ACCNT field to your second bank name and the ROUTNUM field to the modified BSB number. 

8.    Save the file, ensuring you keep the IIF format. 

9.    In Accounts Business, import the IIF file:

a.    Click on File, Utilities, Import and then IIF Files

b.    Select the IIF file

c.    Check your second bank account – it should have the modified BSB number.

 

Note for Accounts Business Online users

The IIF export file will be saved to your Q drive.  Use the download tool to copy the file to a convenient location on your local PC – like your Desktop - from where you can open the file with your Excel programme.

After making the modifications upload the adjusted file back to your Q drive using the upload tool. 

 

 

Need more help?

Ask the Reckon Community at: https://community.reckon.com/reckon.

 

 

How did we do?

Yodlee feeds do not automatically update

Removing Duplicate transactions from a BankData import in Reckon One

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