How to: Set Up the Envestnet Yodlee Bank Feeds Service

You can import electronic bank statements from your bank to quickly fill in the Payment Reconciliation Journal window so you can apply payments and reconcile the bank account. For more information, see Apply Payments Automatically and Reconcile Bank Accounts.

The Envestnet Yodlee Bank Feeds service is installed as an extension to Financials and is ready to be enabled. For more information, see Customizing Financials Using Extensions.

After you enable the bank feed service, you must link a bank account to the online bank account that the feed will come from. You link bank accounts to online bank accounts in the following different scenarios:

  • A bank account does not exist in Financials for your online bank account. Therefore, you create the bank account by linking from the online bank account.
  • A bank account exists in Financials, which you want to link to an online bank account.
  • A linked bank account must be unlinked because you want to stop using the bank feed service for the account.
  • Online bank accounts have changed and you want to update the information on bank accounts in Financials.

When the bank feed service is enabled, you can set a bank account up to automatically import new bank statements into the Payment Reconciliation Journal window every two hour. Transactions for payments that have already been posted as applied and/or reconciled in the Payment Reconciliation Journal window will not be imported. For more information, see the “To enable automatic import of bank statements” section.

Note

If you use the Set Up Company assisted setup, some of the steps in the following procedures happen automatically when you get to the company bank account setup. For more information, see Welcome to Dynamics 365 for Financials.

To enable the bank feed service

  1. Choose the Search for Page or Report icon, enter Bank Accounts, and then choose the related link.
  2. Open the bank account that you will use for the bank feed service.
  3. In the Bank Account window, in the Bank Statement Import Format field, select YODLEEBANKFEED.

The bank feed service will be enabled when you link a bank account to its related online bank account. See the next procedure.

To create a new linked bank account

  1. Choose the Search for Page or Report icon, enter Bank Accounts, and then choose the related link.
  2. Select the relevant bank account, and then choose the Create New Linked Bank Account. The Bank Account Linking window opens after a few moments.

    Note

    This window shows the actual web page of the Envestnet Yodlee Bank Feeds service. Terminology and functionality in the window may not match instructions provided in this topic.

  3. In the Online Bank Account Linking window, in the Link Account pane, use the Search function to find the bank where you have one or more online bank accounts.
  4. Choose the bank name. The Log In pane opens.
  5. Enter the username and password that you use to log on to the online bank, and then choose the Next button.
  6. The bank feed service prepares to link the first online bank account at the specified bank to a new bank account in Financials.

    Note

    If you have more than one online bank account at the bank, you must create additional bank accounts in Financials for them. See steps 8 through 10.

    After the process completes, the bank name will appear in the My Accounts pane on the Linked tab. The number in brackets indicates how many online bank accounts were linked.

  7. Choose the OK button.

    If you're only linking one online bank account, the Bank Account Card window opens and displays the name of the online bank account. In this case, the bank account linking task is completed. All that's left to do is to set up the bank account. For more information, see How to: Set Up Bank Accounts.

    If you're linking more than one online bank accounts, the Bank Account Linking window opens and lists the online bank accounts that are not yet linked to bank accounts in Financials. In that case, follow the next step.

  8. In the Bank Account Linking window, select the line for an online bank account, and then choose the Link to New Bank Account action.

    The Bank Account Card window for a new bank account opens and displays the name of the online bank account.

    If a bank account already exists in Financials that you want to link the additional online bank account to, follow the next step.

  9. In the Bank Account Linking window, select the line for an online bank account, and then choose the Link to Existing Bank Account action.
  10. In the Bank Account List window, select the bank account that you want to link to, and then choose the OK button.
  1. Choose the Search for Page or Report icon, enter Bank Accounts, and then choose the related link.
  2. Select the line for a bank account that is not linked to an online bank account, and then choose the Link to Online Bank Account action. The Online Bank Account Linking window opens with the name of the bank prefilled in the Link Account pane.
  3. Choose the bank name. The Log In pane opens.
  4. Enter the username and password that you use to log on to the online bank, and then choose the Next button.

    The bank feed service prepares to link your bank account in Financials to the related online bank account.

    When the process has completed successfully, the bank name will appear in the My Accounts pane on the Linked tab. If the bank has more than one bank account, only the bank account that you selected in step 2 is linked.

  5. Choose the OK button.

In the Bank Account List window, the Linked check box is selected.

  1. Choose the Search for Page or Report icon, enter Bank Accounts, and then choose the related link.
  2. Select the line for a linked bank account that you want to unlink from its related online bank account, and the choose the Unlink Online Bank Account action.
Note

If you choose Yes on the confirmation dialog, the link to the online bank account is removed, and the log-in details are cleared. To link the bank account to the online bank account again, you must log on to the bank again. For more information, see the “To link a bank account to an online bank account“ section.

To update bank account linking

  1. Choose the Search for Page or Report icon, enter Bank Accounts, and then choose the related link.
  2. Select the relevant bank account, and then choose the Update Bank Account Linking action.

If issues exist for any of the linked bank accounts in the Bank Account List window, the Bank Account Linking window opens specifying which bank accounts have issues. Issues can best be resolved by unlinking the online bank account and then re-creating the link. For more information, see the “To link a bank account to an online bank account“ section.

To enable automatic import of bank statements

  1. Choose the Search for Page or Report icon, enter Bank Accounts, and then choose the related link.
  2. Select the line for a linked bank account, and then choose the Automatic Bank Statement Import Setup action.
  3. In the Automatic Bank Statement Import Setup window, in the Number of Days Included field, specify how far back in time to get new bank transactions for.

    Note

    It is recommended that you set this value to 7 days or more.

  4. Select the Enabled check box.

Every hour, the Payment Reconciliation Journal window will display new payments that are made on the online bank account.

Note

Transactions for payments that have already been posted as applied and/or reconciled in the Payment Reconciliation Journal window will not be imported.

See Also

Setting Up Banking
Managing Bank Accounts
Apply Payments Automatically and Reconcile Bank Accounts
Customizing Financials Using Extensions
Working with Financials