BankIt Menu BankIT Process The Bankit bank feed intelligence assist users to allocate general ledger accounts automatically before creating a cashbook. General Ledger>Activity> BankIt BankIT Flow chart Below is a chart of the process to complete bank transactions to cash book processing   BankIT Search Buttons explained Search Search to see bank transactions (this is based on date and whether processed or not - default is No) Delete Bankit line This does not actually delete the line. The line is marked as deleted and records date and time the line was deleted and by whom.  (use this to remove a duplicate imported bank line) Show Deleted Lines When ticked, the result of the search will only display the deleted lines for the selected bank, bank account and date range Import bank statement Import the bank statement from your bank Intelligence setup view all the bank intelligence rules setup including system and manual Apply intelligence to statement data run this utility to assign intelligence to the imported data Delete intelligence on this line if intelligence was incorrectly applied, delete the intelligence and re-apply Change bank account if you have imported the bank lines into the wrong bank account, select records and change to another bank account View Applied intelligence view the what intelligence was applied to the line.  Change applied intelligence Export Bankit grid export all the data view on the grid to Excel Create cash book once the intelligence is applied, run the final step of creating a cash book Calc View the balances of bank imported data and cash book balance to give final total - match with actual bank statement balance BankIt Import After you have downloaded your bank statement into a CSV file, the data needs to be imported into the system The positive feature of Bankit is that the system remembers the original bank file format.  This means that you can view past bank statement information. Bank Select your bank General Ledger bank accounts select your bank account that you are importing File Find your file you downloaded. Process will be to Upload file and then Import file. NOTE: it is important to import into the correct GL bank account   After import, data will be displayed Next step is to Apply Intelligence to statement data Apply Intelligence to the Bank Statement Data This is the screen where all the Rules that have been created are applied to the bank statement data. Click on Start to get the process going. Once the process had finished and the message appears "Completed Automatic Intelligence Allocation." Click on Ok and the grid will be populated with all the records that were not processed by the automatic intelligence allocation. Either double click on a selected line or click on the line and click on the Add Intelligence button. The Bank Rules Maintenance screen will appear. You can now apply a specific rule for this line using one of the four options and the appropriate parameter to ensure that in future this line will be satisfied by the rule that is being created. Select the applicable GL Account, and if the GL Account happens to be either the Debtors Control or Creditors Control then either a Debtor or Creditor must be selected in the appropriate dropdown. Enter the transaction description that will be used when these lines are promoted to a cash book. Once satisfied that the rule will handle this line click on Save / Save and Close. This rule will immediately be applied to the line on the grid and that line will disappear from the grid. If there are addition lines still on the grid that this new rule will apply to, Do Not Create another rule for the same condition. Simply click on Start button again and the process will run through the Apply Intelligence Process again and apply this rule to any lines to which it applies. This process should be repeated until all the lines have been satisfied with a rule and next time when new bank statement lines have been imported all these rules will be applied to the new lines.   If there are lines on the grid that are a once off transaction and creating a rule for them would be a waste then these lines can be handled in one of two ways. 1 Either use the default GL Account that is offered when the Create Cash Book button is clicked and there is a debit or credit GL Account to be selected there. These lines can then be edited again in the cash book to apply a different GL Account to it. 2 Exit this screen to the Main BankIt screen click in the tick box Show Unapplied Lines and click on Search. This will display only those lines that were not satisfied by the Apply Intelligence Process Either double click on a selected line or select a line and click on the View Applied Intelligence button. A screen will appear where a specific rule can be entered for this line i.e. GL Account, Debtor / Creditor (if applicable), Transaction, Region, Division and Project. This rule is not saved in the Rules Setup and is only ever applicable to this line. Manual Intelligence Check the intelligence applied, double click online to check intelligence and correct. or double click to add a manual intelligence WITHOUT adding to the intelligence rules. This could be a once off transaction which does not require a rule to be setup. Blank lines intelligence One does not have to allocate every line for Bankit, you can leave it blank. The system will automatically allocate to the default general account when processing to the cash book. This can be fixed at cash book level or will need to be fixed with a journal later on as it is allocated to a suspense account.   Bank Payment information Once Intelligence has been applied to the bank statement data. One can update the payment information that was setup against the creditor and payment ledger accounts. Payment information can be applied to both processed bank data and not processed data as long as intelligence has been applied. This information added, helps for reporting for BankIT Payments out. There are three functions that can be done on the lines 1 Update Payment information - This will check the bank statement line and if intelligence has been applied to the Creditor or GL account, it will update the default information that was setup in Creditors setup and GL accounts setup. 2 Update CB Reference - Update Cashbook Reference on lines, Bulk update bank lines with the Cashbook reference.  Future work will be to use this Cashbook reference to update actual cashbook 3 Edit line after Intelligence and update payment information actions have run.   Cashbook process from BankIt When all intelligence has being applied, process the data to the cash book There are a couple of defaults that will populate the cash book screen so that you don't have to fill this in all the time. These defaults are found under the System Configuration Module > Administration > Defaults The Cash book Name, description and reference will pick up from the last created cash book from the BankIt. Remember to change these when creating a new cash book     Defaults from System Configuration   Cancelling a Cashbook will revert all BankIt information as unprocessed and will appear in your next process to cashbook function BankIT Banks Supported Huge ERP is consistently updating new bank feeds for intelligence. Current bank feeds support are: South Africa ABSA Bank ABSA cash focus bank First National bank (FNB) First National bank (FNB) - Enterprise Mercantile bank Nedbank Nedbank Corporate Account Standard bank Standard bank business   New Zealand ANZ bank ANZ credit card BNZ Bank BNZ credit card Kiwibank Westpac BankIt default settings Setting up default accounts for Bankit These defaults are found under the System Configuration Module > Administration > Defaults Bankit Import start date - this is the date you want the bankit to import bank statements from. This is important so that you don't bring in bank transactions that is already in the cashbooks.   Used when you start your company Bank Select the bank mostly used GL Bank account select the general ledger account mostly used Deposit and payment accounts select the default accounts to allocate blank and unallocated intelligence lines   BankIt Intelligence Setup The BankIt Intelligence Rule consists of the following components. 1 Description Which is defined by the Description dropdown. 2 Parameter each category has different parameters. 3 GL Account The GL Account that this rule will use when creating the cash book. 4 Debit Description The Debit Description will be used when the statement amount is positive. E.g. Payment received from … 5 Credit Description The Credit Description will be used when the statement amount is negative. E.g. Payment made to … 6 Region   6.1 No Action No Region will be retrieved and written into the cash book line. 6.2 Use Defaults The Default Region will be retrieved from the GL Account, Debtor or Creditor and written into the cash book line. 6.3 Apply A specific region can be selected from the dropdown for this rule and written into the cash book line. 7 Division 7.1 No Action No Division will be retrieved and written into the cash book line. 7.2 Use Defaults The Default Division will be retrieved from the GL Account, Debtor or Creditor and written into the cash book line. 7.3 Apply A specific division can be selected from the dropdown for this rule and written into the cash book line. 8 Project 8.1 No Action No Project will be retrieved and written into the cash book line. 8.2 Apply A specific project can be selected from the dropdown for this rule and written into the cash book line. 9 Apply The rules can be switch on and off be either ticking or unticking the apply tick box.   There are 6 categories of intelligence rules. 1. Test All Debtors  – There can only be one occurrence of this rule. The system will not allow another one to be created. This is a System rule and cannot be deleted. Parameters – All. GL Account Typically Debtors Control Account. Debit Description Payment Receive From (special characters in the description. The following code will be replaced by [C] debtor code, [N] debtor name, [CN] code and name. Credit Description Payment Reversed To (special characters in the description. Region Only No Action or Use Defaults is applicable. Division Only No Action or Use Defaults is applicable. Project Only No Action or Apply. Select a specific Project from the dropdown. Apply Switch On or Off How the rule is applied: Each statement line is tested for the various debtor code. Each statement line is tested for the debtor name. Each individual word in the debtor name is tested against the words in the statement line. At least two word must match and no word less than three characters is tested. 2. Test All Creditors  – There can only be one occurrence of this rule. The system will not allow another one to be created. This is a System rule and cannot be deleted. Parameters – All. GL Account Typically Creditors Control Account. Debit Description Made Payment To (special characters in the description. The following code will be replaced by [C] creditor code, [N] creditor name, [CN] code and name. Credit Description – Payment Reversed To (special characters in the description. Region – Only No Action or Use Defaults is applicable. Division – Only No Action or Use Defaults is applicable. Project – Only No Action or Apply. Select a specific Project from the dropdown. Apply – Switch On or Off   How the rule is applied: Each statement line is tested for the various creditor code. E ach statement line is tested for the creditor name. Each individual word in the creditor name is tested against the words in the statement line. At least two word must match and no word less than three characters is tested.   3. Compare Words in a line  – Test accuracy and weight %. This rule can be created with difference parameters as many times as necessary. Parameters – Any words that may appear in the statement line. The words do not have to be in any specific order as each word is individually tested. GL Account – Any GL Account that would apply to the bank statement transaction. Debit Description – Payment from Credit Description – Payment to. Region – All options are available for use. Division – All options are available for use. Project – Only No Action or Apply. Select a specific Project from the dropdown. Apply – Switch On or Off   How the rule is applied : Each individual word in the parameters is tested against the words in the statement line. At least two word must match and no word less than three characters is tested.   4. Test First X characters  and what to search for. This rule can be created with difference parameters as many times as necessary. Parameters – 7||Vodacom. The parameter must consist of 3 components, a number representing the number of characters that are to be search for in the statement line.  2 vertical line (pipes) which are used as the separator between the number and the actual word or words. The last component is the word or words that are to be tested for. If the word component is more than one word then the words must be as would be expected to be found in the statement line. GL Account - Any GL Account that would apply to the bank statement transaction. If either the Debtors Control Account or the Creditors Control Account is used then the process will attempt to find the debtors or creditor name in the statement line. If the debtor or creditor is not found then this rule will be skipped as unsuccessful. Debit Description – Payment from Credit Description – Payment to. Region – All options are available for use. Division – All options are available for use. Project – Only No Action or Apply. Select a specific Project from the dropdown. Apply – Switch On or Off   How the rule is applied : E.g. 7||Vodacom The process takes the word part of the parameter and attempts to find it in the first (in this case)  7 characters of the statement line. Spaces between words also count as characters.   5. Test Last X characters  and what to search for. This rule can be created with difference parameters as many times as necessary. Parameters – 8||& Petrol. The parameter must consist of 3 components, a number representing the number of characters that are to be search for in the statement line. 2 vertical line (pipes) which are used as the separator between the number and the actual word or words. The last component is the word or words that are to be tested for.   If the word component is more than one word then the words must be as would be expected to be found in the statement line. GL Account - Any GL Account that would apply to the bank statement transaction. If either the Debtors Control Account or the Creditors Control Account is used then the process will attempt to find the debtors or creditor name in the statement line. If the debtor or creditor is not found then this rule will be skipped as unsuccessful. Debit Description – Payment from Credit Description – Payment to. Region – All options are available for use. Division – All options are available for use. Project – Only No Action or Apply. Select a specific Project from the dropdown. Apply – Switch On or Off   How the rule is applied : E.g. 8||& Petrol The process takes the word part of the parameter and attempts to find it in the last (in this case)  8 characters of the statement line. Spaces between words also count as characters.   6. Test In Line for words and phrases . This rule can be created with difference parameters as many times as necessary. Parameters – Any word or words (phrase) that could appear in the statement line, typically words that would appear together. GL Account - Any GL Account that would apply to the bank statement transaction. If either the Debtors Control Account or the Creditors Control Account is used then the process will attempt to find the debtors or creditor name in the statement line. If the debtor or creditor is not found then this rule will be skipped as unsuccessful. Debit Description – Payment from Credit Description – Payment to. Region – All options are available for use. Division – All options are available for use. Project – Only No Action or Apply. Select a specific Project from the dropdown. Apply – Switch On or Off   How the rule is applied: The process takes the word or words and attempts to find it in the statement line.  BankIt Rules Maintenance (Adding or Editing) Rule Type   Parameter GL Account Debit Description Credit Description Select Region Select Division Select Project Apply Tick System Rule Run Last   Print Rules Rules Description   Select BankIt customer and supplier setup Setup additional rules for the system intelligence to apply Exclude Exclude customer from intelligence use this to exclude the customer or supplier from the system intelligence This can be used when a supplier is only setup for information and not to be used as a supplier control Key words Use the keywords to apply further intelligence. In some cases the company name is not being picked up by the intelligence as the customer or supplier is using a different name on the bank reference. Use this section for the system intelligence on the customer and supplier to be applied correctly. In the example below the MBN on the bank feed is not being picked up, however the Ballymorris and MBN will then find this customer. Bank feed line example     Bankit - Adding a Manual Rule When using the "Allied Intelligence To Statement Data" and you see that one has been incorrectly applied this can be manually changed by double clicking on the line and updating the fields. Once you are happy with the corrections made, you can create a new rule for future allocations by clicking the "Create Rule" button at the bottom. This can also be applied to an incorrect Allocation as well as an entry that was not auto allocated. Manage Duplicate Import Items The purpose of this window is to identify and delete records that have been imported and have been duplicated. Duplicated Items are determined by the Date and Amount being the same. However not all items that have the same Date and Amount are duplicates. Analyze the items carefully. The Duplicate Item in the right panel must be aligned with the Original Item in the left panel. This is achieved by dragging and dropping the items to align them. Multiple or Single items can be selected and dragged and dropped either in the same panel or the opposite panel. Finally tick the Tick box of the Duplicate Item(s) that are to be deleted. If a Duplicated Item has been processed it cannot  selected . Verify Alignment of Original and Duplicate Items   Delete Duplicate Items Date From/Date To Bankit Intelligence Import and Export When deciding what type of import to use for banking intelligence, it is based on the following: Maintaining current rules and fixing Creating new rules and importing Maintain Bankit intelligence rules by exporting and fixing and importing back. Maintaining current rules and fixing Use the tick for export and import using ID This is used so that you can change information on existing intelligence, so when importing the system knows what rule to update. Excel export with ID field Maintain structure of the Excel sheet and keep the id field in the first column. Change the information required and save your excel sheet. When importing and using the id structure, tick the import using ID box   Creating new rules and importing When creating new rules, one does not use the ID tick box. There should be no other rules in here except the ones you want to create as new rules. When exporting you are only getting the headers so that you know the structure for the import. Here is a list of the Rule Types These need to be exact wording to link to the rule type Attached is an example of the exported intelligence Test In Line for words or phrase Test First X characters and what to search for Compare Words in line - Test accuracy and weight % Test In Line for words or phrase