New in Acumatica 2020 R2, you can now connect directly with over 11,000 financial institutions through Acumatica Bank Feeds for automated import. Here’s a closer look at this new Acumatica bank integration that saves tons of time and hassle when it comes to cash management and bank reconciliation.
Simplify Transaction Matching and Bank Reconciliation
The new Electronic bank and credit card transaction feeds allow Acumatica customers to easily connect with over 11,000 financial institutions to download transactions and reconcile bank accounts using automated processes. As always, the bank integration connection is fully secured with multi-factor authentication and tokenization technology.
Not only does this seamless bank integration eliminate the added time and extra steps of manually downloading and importing QBO, OFX, or CSV files as required with previous versions of Acumatica ERP, the real-time activity downloads also feature automated smart matching to existing transactions to significantly streamline and simplify the bank reconciliation process.
Acumatica Bank Integration Highlights
Here are just a few of the highlighted features of the new Acumatica Bank Feeds:
- Connect your financial institution accounts to Acumatica and automatically import transactions in real-time
- Automated smart match of Acumatica transactions to imported bank data
- “Hands free” control over how and when transactions are imported using automation schedules (daily, weekly, monthly, etc.)
- Selectively choose accounts from each financial institution and map them to the corresponding cash accounts in Acumatica
- Eliminate the need to manually download and import bank files
- Automated anomaly detection and error-handling