One of the essential accounting software features is allowing the users to connect to their bank feeds for smoother business transactions.
This article covers the step-by-step guide on adding a bank in Deskera and connecting your bank account using Plaid and Yodlee.
How do I add a Bank?
Follow the steps mentioned below:
- Login to your Deskera account.
- Click on the Switch To button at the bottom left of the screen >> Select Deskera Books
- On Deskera Books main dashboard, click on the Bank tab via the sidebar menu.
4. Click on the Add Bank Account button.
5. This action will open the slider on the right-hand side of the screen.
6. Fill in the fields, as shown below:
- Code - The bank code
- Name - Your bank account name
- Description - Short note describing the bank account
- Currency - The base currency in the bank account
7. Click on the Save and Next button.
How do I connect to my bank?
- In the following screen, you can connect to your bank account using our third-party service provider.
2. Connect to your bank account using the two options available. Click on the drop-down arrow and choose to connect to either; Plaid or Yodlee
If you wish to find out more about the bank lists available for Plaid and Yodlee, check this blog out.
A) Connect Using Plaid
- If you choose to connect using Plaid (only available for financial institutions in the US and Canada), you will be prompted with the message below. Click Get Started.
2. Select your financial institution here or you can use the search bar function to find your bank.
3. Enter your bank account credential and click Submit.
4. Once you have linked your bank account using Plaid, you can view the image below. Click on the Continue button.
5. Next, select the bank account that you wish to connect to Deskera Books.
6. Click Connect.
7. In the Bank List, you can view your bank account is successfully linked to Plaid.
B) Connect Using Yodlee
- If you choose to connect using Yodlee, please read the term and conditions before linking your bank account to Deskera Books.
- You need to agree to the Terms and Conditions as stated before you can proceed further. Once you agreed to the T&C mentioned, click on the Get Started button.
3. Next, choose the site to connect to your bank account here. If you couldn't find your bank here, you can use the search bar to find your bank.
4. After selecting your bank, enter your bank account credential here. Press submit.
5. Choose your bank account reflected here >> Click Connect
6. After you have successfully linked your bank account with Yodlee, go to Bank Record. You can view the bank account linked to Yodlee on this page.
Can I edit my bank details?
You can edit your bank details following the steps mentioned here:
- Click on the checkbox of the preferred bank.
2. Click Edit.
3. This action will open the slider. Edit the fields on this page.
3. Click Save and Next.
How can I disconnect my bank account from Plaid and Yodlee?
To disconnect a bank from Plaid and Yodlee, you can click on the respective bank's three dots as shown.
Click on the Disconnect button.
Please note that disconnecting your bank account from Plaid and Yodlee will terminate our system from fetching your bank feeds to Deskera Books.
What is the difference between the deactivate and disconnect button?
Deactivating your bank account will change the status of your bank account to inactive.
It means you won't be able to use this bank account in other Deskera Books' Modules.
For example, if you have deactivated the Bank with code ACC10001, you cannot select this Bank under the Receive Payment field for Sell Record.
If you choose to disconnect your bank account from Plaid and Yodlee, the bank account will remain active in the system.
Hence, you can still choose this bank account from the drop-down menu in all the modules in Deskera Books.
How can I delete the bank account?
To delete your bank account, click on the respective bank's three dots. Select the Delete button.
Please note if your bank account is already in use in other modules, you cannot delete the bank account. The system will notify you that the bank is already in use.
Congratulations! You have learned how to add a bank and connect your bank account using Yodlee and Plaid with Deskera Books.
If you wish to learn more about connecting your bank account to Stripe, read more here.