TABLE OF CONTENTS
Description:
For Banks that are not supported by our Plaid Bank Feed, use our Bulk Journal Import function to get banking activity into SoftLedger as Journal Entries. This can also be used for Plaid support Banking Institutions for bringing in historical activity beyond what is available via the Plaid integration.
How To:
- Export activity from you Banking institution into an Excel format; .xlsx or .csv
- Condition the bank export data into SoftLedger's Journal upload template format, see detail below.
- Transform single entry bank feed data into double entry accounting journal entries, and also adding other contextual information like Vendors, Customers, Cost Center, etc.
- Categorize and apply necessary ledger.account and dimension information to the bank transactions
- Upload to SoftLedger
See Example Upload Conversion workflow we recommend as part of our DEMO workflow, this can be adjusted slightly to fit other banks export format. See Attached.
How to use attached template
| 1 | Drop Bank Export Data into the "Bank Export" tab |
| 2 | Update any Ledger Account or Location or any other VLookUp Tables |
| 3 | Copy data once done from SL Working File to SL Upload as is |
| 4 | Copy data from SL Working file to SL Upload file BELOW where you had just copied the data and EXCLUDE the debit and credit values, AND EXCUDE the Ledger Account |
| 5 | In the second set of copied data, copy the debit column to the credit column and the credit column to the debit column (essentially swap them to make complete journals) |
| 6 | In the second set, input the bank Ledger Account Number as you have it coded and created in SoftLedger (e.g. Chase Checking Account SoftLedger Ledger Account #) |
| 7 | Save the file with the "SL Upload" file as the first tab |
| 8 | Upload to SoftLedger (if uploading different currencies, split the Journals out by currency for two separate upload files) |
FAQ:
- How do I reconcile Bank Statements
- How do I limit Duplicates
- Please review existing transactions in the Bank Ledger Account before bringing in activity to mitigate risk of duplicating transactions
- Can we manually create a Bank Feed through uploads instead of creating Journal Entries via upload?
- This is currently a high-priority item on our Product Roadmap and is expected release is sometime in 2024.
- How do I delete an Upload if I inadvertently performed the upload multiple times and created duplicates
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