Direct Bank Connections: Connecting Bank Accounts

  • Published on Jun 13, 2024
  • 4 minute(s) read
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This article is part of the Direct Bank Connections training. Click here for more information on Direct Bank Connections.

When using R365 Direct Bank Connections with Bank Accounts utilizing Multi-factor Authentication (MFA), it might be necessary to re-authenticate each time you retrieve bank activity. Click here for more information on Bank Accounts with Multi-factor Authentication.

The Manage Bank Connections prompt allows you to search for your financial institutions, select, and connect them to R365. Once connected, the Bank Accounts must be linked to an existing Bank Account Record to be used in Bank Activity. This article demonstrates each step in the connection process.

Step 1 - Open the Bank Connections Management wizard

This prompt can be opened from within the Bank Activity screen, the Bank Account record, or the Bank Accounts step in the R365 Setup Assistant.

       
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    To access the Manage Bank Connections wizard from the Bank Activity screen, select Manage Bank Connections in the header. 

       
       
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    To access the Manage Bank Connections wizard from the Bank Account record, select the bank account to open the GL Account screen, and then select Manage Bank Connections on the General tab.

           

       
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    To access the Manage Bank Connections wizard from the Bank Accounts step in the Setup Assistant, select Manage Bank Connections.
     

       

Step 2 - Select Add Bank and Agree to Terms

This prompt displays all bank connections that have been established. 

       
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    Select Add Bank.
    The Connections Manager appears.

       
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    If this your first time using the Connections Manager, review the Terms and Conditions and select Next to agree.

       

Step 3 - Search for your financial institution

                                               
               
           		                
                       
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    In the Search for your bank field, enter the name of your bank.
    The list automatically updates to display results matching your entry.

                       
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    Select the correct option from the list.

                       
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If you are not sure if is the correct financial institution, hover over the name field to see the full name description.

               
           

Step 4 - Enter your credentials

Enter your financial institution credentials on the prompt. Most financial institutions require additional security questions or two-factor authentication. If that is the case for you, the Connections Manager will continue to prompt you for the required information to successfully connect your financial institution. Continue through each prompt until the connection is successful and your available accounts are listed.

   

If you do not have the correct credentials or are trying to add an account that has been closed, you will receive an error message and will not be able to add the account through the Connection Manager. Please check your credentials to ensure they are correct. If the issue persists, please consult with your financial institution regarding connectivity.

*This screen might differ depending on the selected financial institution.

Step 5 - Review Accounts and Save

       
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    Review the available accounts.

       
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    Select the checkbox for each account you want to connect. 

       
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    Ensure that checkboxes are cleared for accounts you do not want to connect.

       
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    Select Save and Continue when you have completed your account review.

       

*This screen might differ depending on the selected financial institution.

Step 6 - Add more Accounts / Close Prompt

Congratulations! Your accounts are successfully connected to R365! 

       
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    Select Search More Banks to connect additional accounts. 

       
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    Return to Step 3 and repeat the process for each of your financial institutions. 

       
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    When you have added all of your financial institutions, select the X to close the prompt and proceed to Account Linking.

       

*This screen might differ depending on the selected financial institution.

Step 7 - Link Connected Accounts to Bank Account Records

       
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    Select the X in the top right corner of the Connection Manager to return to Step 2 of the Manage Bank Connections wizard, where your financial institution(s) are listed. 

       
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    Select Expand to view the accounts.

       
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    Select Link to view bank accounts that are not yet linked to a connected account. 

       
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    Select the desired account to complete the linking process. 

       
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    Link all accounts that will be used in Bank Activity.

           
               

    If necessary, accounts can be unlinked by selecting Unlink.

           
       

Step 8 - Retrieve Transactions in Bank Activity

Your accounts are now connected, linked, and ready to be used on the Bank Activity Screen. Click here for training on Using your Direct Bank Connections.