Bank Activity Page

13 Jun 2024
7 Minutes to read

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Bank Activity Page

Updated on 13 Jun 2024
7 Minutes to read

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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. Click here to 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.

Controls

	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.

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 automatically matches the record to the transaction and moves it to the Matched tab.
Transactions on the Matched/Unmatched tab are deleted after 10 days. Matched transactions can be unmatched and moved back to the Unmatched tab by selecting Unmatch in the transaction row.
Excluded- Any record that was not intended to be downloaded from the bank or that has already been reconciled. Learn more about this in the Get Bank Activity training.
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.

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.

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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What's Next

Bank Activity: Create AP Payment from Bank Activity

Table of contents

Controls
Unmatched Tab
Rule Applied Tab
Matched / Excluded Tab
Bank Rule Tab