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Set up Open Banking

Learn how to set up Open Banking so you can access your bank transactions in Reckon One and Reckon Accounts Hosted. Learn more about Open Banking to decide if it's right for you.

Open Banking is available only for Australian customers.

Before adding an Open Banking feed

Before adding an Open Banking feed, check to see if your account is Consumer Data Right (CDR) ready. Only accounts that are CDR ready will be available for selection in your Reckon Product. The process for making your account CDR ready can vary depending on your bank and account type.

Appoint a data sharing delegate / nominated representative for your business account

If you want to set up Open Banking for a business account (or an account where someone else manages the data on behalf of the account holder), you will need to appoint a nominated representative. This is a person appointed to give, amend, and manage authorisations to share consumer data from (and on behalf of) your businesses accounts with an Accredited Data Recipient (that is, your accounting software).

See this list of banks and their specific methods for appointing a nominated representative from ACSISS Data Services (our partner in Open Banking).

Personal account holders do not need to appoint a nominated representative to use Open Banking.

Add a bank feed

Reckon One
1. In the Reckon One Banking menu, select Bank Connections.

2. Select Add feed.
Reckon Accounts Hosted
Before adding a feed, you must create a Bank Data tile in the Reckon Customer Portal (Portal) and link it to the Reckon Accounts Hosted company file.

1. Log into Reckon Portal using your Reckon Accounts Hosted Username/Email and Password.

2. Select Bank Data from the menu on the left of the screen.

3. On the BankData tile in the Reckon Portal, select the ellipses menu (3 dots in the top right corner) and select Bank Feeds.

4. Select Add Feed.

Now proceed to set up your Open Banking feed.

Set up an Open Banking feed

After adding the bank feed in your desired product:

  1. Select your bank account Country.
  2. Select the bank feed type as Open Banking.
  3. Select your bank from the drop-down list. This list is split into 2 sections, with popular banks appearing at the top, and all banks appearing below.
    The Connect Existing Feeds link will show and allow you to select any bank feeds that were previously created in your Reckon account but are not currently linked to a Bank Data tile in the Reckon Portal for Reckon Accounts Hosted or within a Reckon One book - Bank Connections.
  4. Select Next and follow the steps for setting up the Open Banking feed:
    1. Select Continue in the Add Open Banking feed window to go to SISS Data Services. Learn more about how we partner with ACSISS Data Services to provide Open Banking.
    2. Sign up or sign in to ACSISS MyData and select Next.
    3. Enter and validate your ABN and select Next.
    4. Authorise your ABN and select Next.
    5. Review Your Rights and protections, then select Next.
    6. Read the information on the Provice your information window, then select Start.
    7. Review the information on the How to share your data window, then select Continue.
    8. Review the information on the Data Request page, then select Account Balances and Details and Transaction Details, then select I consent option.
    9. Select your bank from the list and select Continue.
    10. Enter your Bank Customer ID and select Continue. (Please note the method of authentication you're prompted for can vary depending on the bank in the following step).
    11. Your bank will now send an MFA code to your registered mobile. Enter this code and select Continue.
    12. Select all the bank accounts you want to create a feed for and select I confirm. If you can't see your account here, it may be that the account is not CDR ready. Learn how to make sure your account is CDR ready.
    13. Select the time period that you consent to sharing data with Reckon and the start date for historical transactions. Select Next.
    14. Select Finish.
    Once a connection is established, it can take up to 1 hour to see transactions.

Read more

Need more help?

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

Or Log a Support Ticket: https://www.reckon.com/au/support/

How did we do?

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