Direct Bank Connections Overview

Direct bank connections allow financial institutions to link directly to R365 to import bank activity. Once connected, transaction data can be pulled from the institution into the Bank Activity page within R365.

Connection and credential requirements depend on each financial institution, and not all financial institutions offer connections.

Some institutions may delay transaction imports on the day a connection is first made. In those cases, full activity retrieval begins the next day after the nightly aggregation process completes.

Security

Users must have the following permission to manage direct bank connections:

• Banking → Bank Activity → Manage Bank Connections

Learn more about managing Permissions and Custom User Roles here. The Permission Access report can be used to determine which User Roles or Users already have these Permissions assigned. Learn more about User Setup and Security here.

These users will need the credentials to each separate financial institution in order to connect the Bank Accounts.

Once connected, users will not be able to view or modify the login credentials. If the credentials are changed with the financial institution, the user will be prompted to provide the updated credentials during a future activity retrieval.

Setup Direct Bank Connections

A direct bank connection is established for each financial institution using login credentials. Connections can be managed from the Bank Activity page or Bank Account record.

Bank Activity Page:

Bank Account Record:

After the connection is established, each bank account within the institution can be linked to its corresponding R365 bank account. This enables transaction details to be retrieved and uploaded to the Bank Activity page.

Within a single R365 instance, multiple bank activity upload methods can be supported, including direct bank connections, BAI files, and manual uploads. The upload method for each financial institution depends on what the institution supports and how bank activity is managed in R365.

Once the connection is in place, any user with the ‘Process Bank Activity’ permission can retrieve bank activity. Login credentials are only required during initial setup or when re-authentication is needed.

Re-Authenticating Banks Connections

Changes to financial institution login credentials or multi-factor authentication (MFA) settings trigger re-authentication in R365. Reauthentication is the process of securely logging into the financial institution again to restore the connection.

Bank Accounts with Multi-factor Authentication (MFA)

When using R365 Direct Bank Connections with financial institutions utilizing Multi-factor Authentication (MFA), it may be necessary to re-authenticate each time bank activity is retrieved.

Retrieving Bank Activity

After connections are established and bank accounts are linked, bank activity transactions is retrieved on the Bank Activity page.

Specify a date range or select Retrieve Activity to pull the last 10 days of transactions.

Bank Activity transactions may potentially be unavailable for import the day of the initial Bank Connection (when the Bank is connected to R365), depending on the Bank in use. This is due to a data aggregation process that runs nightly. Activity retrieval will become fully functional the day after your initial Direct Bank Connection is successfully created.