At the time of the webinar, Ronnie Aspe had taken over BF support for about 2 months, so he was in learning mode.
He acknowledged that multiple bank accounts would probably require his help since he has access to the Sage Banking Cloud, or whatever connects to it. Plaid is one of 3 services used by Sage to connect to banks. If a bank is not listed, it may be possible to connect to one other than Plaid. That's probably a Sage (Ronnie) call.
To me, the bigger issue is the usability and workflow. Attached is the BF I just downloaded from Bank of America. You'll see ACH payments recorded in checks that flow into Dep/Adjust as "Withdrawal" as a new transaction. There is also no date selection, so you get everything as of the download. BF download is one and done IF you click Accept. If you don't, you can download again. In my case, I'll end up deleting the Bank Feed transactions that are in the wrong tab and manually clear them. I'll also delete the March transactions that I haven't posted yet.
BF does not download the bank balance, which I attribute to the transactions being stored/supplied by the Sage Banking Cloud, and not directly from Plaid.
My conclusion is BF may work well for traditional clients that have a high volume of issued checks and deposits with few bank originated transactions. Our clients would not want to bypass recording in AP and AR, so likely would not charge off new transactions to GL only.
With electronic banking taking precedence, BF may be neutered. If BF transactions had an Action to connect to AP and AR, it could be more useful.
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Bob Pfahnl
Manager - Silicon Valley
DSD Business Systems
San Diego CA
408-641-0922
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Original Message:
Sent: 03-04-2022 08:48
From: Jeff Schwenk
Subject: Bank Feeds
I think the update to this is scheduled to follow the RMA module rewrite..... Yes, @Bob Pfahnl did a great presentation for the group. It may be been recorded as well. As I recall, Ronnie Aspe was the Sage guru on this and even he was scratching his head making it work. And if memory serves me (big if these days) you were only allowed ONE bank feed per company. @Bob Pfahnl ????
Since (as @Wayne Schulz points out) resellers aren't given keys work with this, it has become yet another non starter "enhancement". Very sad as I have a couple clients that could benefit. They continue to do their recs the old fashion way - MANUALLY.
So much for working smart, not hard!
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Jeff Schwenk
FORMER 90M Board Member -140,000,000 is a TERRIBLE thing to waste!!!
Bottomline Software, Inc.
Waynesboro VA
540-221-4444
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Original Message:
Sent: 03-03-2022 13:48
From: Wayne Schulz
Subject: Bank Feeds
Additional info:
Partners and SAN members product keys contain an attribute for NFR (Not For Resale). This attribute is restricting the use of Bank Feeds setup/processing due to it's rights.
Bank feeds is only available to subscription customers.
Bank Feeds does not support perpetual type Multi-Factor Authentication where a unique code is required every time you log into the bank. One-Time password Multi-Factor Authentication is supported
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Wayne Schulz
wayne@s-consult.com
http://www.s-consult.com
Schulz Consulting
860-516-8990
Moodus, CT