Description

SoftLedger connects with Plaid to allow linking bank accounts and subsequently fetching bank feeds for user action directly within SoftLedger. If operating with a bank that is not connected via Plaid, this feature allows users to extract bank transactions from their banks through Excel, and upload those raw bank transactions to create bank feeds for use within SoftLedger.


Note: This feature requires the SoftLedger team to enable this in your tenant. If you do not see ability to add a custom bank feed (see details further below), reach out to your team to request this feature at support@softledger.com



See the steps below in this article to add custom bank accounts and upload bank statement transactions to your SoftLedger bank feeds.


Create a custom bank account

The first step would be to add a custom bank account from Cash Management ➝ Link Banks page and clicking +New:


Note: If you do not see the above popup modal when clicking +New from the Link Banks page, this means the upload feature for bank accounts is not enabled in your tenant. Speak to your team at support@softledger.com to enable this feature.
 
Clicking the Click here button from the footer area will open the "Custom" bank account creation form:
All of the inputs here are required:
  1. Provider
  2. Name
  3. Number
  4. Type
    1. Possible types are Investment, Credit, Depository, Loan, Brokerage, and Other


Once the bank account has been added, the banks table will include this bank, denoting it as a custom bank under the Acc Type column.


Click into the three stacked dots to open the bank account actions, and click the first icon to link the SoftLedger Ledger Account. This is required before moving on to upload bank transactions or review those transactions in the bank feeds section.


 


Upload transactions for the custom bank

There's a new Bank Transactions Upload menu item under Cash Management that will open the page where the user can upload transactions.



To start, click the "Upload" button and choose the downloaded bank transaction file to be uploaded:
Note: In order to select the custom bank account and add transactions, the bank account would have been added and had a linked Ledger Account connected in previous steps.

File restriction details:

  • XLSX or CSV file types
  • less than 5 MB
  • must have header row as the first row

Map file column headers to bank feed fields

To allow users to simply upload their bank statement file without having to copy paste them in our CSV format, users are given an option to map headers to the bank feed fields.

The fields required for upload will be denoted and listed on the left of the popup modal, where users can then select the relevant column headers from the file for each field on the right. 


Note: SoftLedger will attempt to map fields with exact same header names to bank feed fields, but those mappings can still be altered by the user.




Headers to be mapped

Required:
  • Date
    • value from file must be a valid date and NOT in future
    • maps to Journal.postedDate when reconciling
  • Description
    • value from file must not be empty
    • maps to Journal line description when reconciling
  • Amount
    • value from file must be a valid number
    • strings such as "USD 100.01" are not supported, value must be a number without any prefix/suffix/commas.
    • value must not be zero or empty
    • positive values will map to the credit lines of the journal entry created from the bank transaction
    • negative values will map to the debit lines of the journal entry created from the bank transaction
  • Currency
    • value from file must be a valid currency supported by SoftLedger
    • custom currencies are not supported
    • maps to Journal.currency when reconciling

Optional:

  • Authorized Date
    • if a header mapping is provided, value from file must be a valid date and NOT in future
    • maps to Journal.transactionDate when reconciling
  • Category
    • maps to Journal.reference when reconciling


Note: The Amount field will add the corresponding bank amount to the DEBIT and CREDIT columns based on logic:

Amount>0, CREDIT linked ledger account
Amount<0, DEBIT linked ledger account


Viewing and creating journal entries from bank feeds

The uploaded transactions can be viewed from the Cash Management ➝ Bank Feeds, where users can select the custom bank account, and review the bank transaction lines for month to date transactions based on the date in the System Date Picker. See the Bank Feeds article for more details on how to operate with bank transactions within the bank feed of the custom bank account.