Welcome to the Feature of the Day. BAI Format. Yeah!
This is an excellent addition! Makes this module much more functional. Thanks!
About time this was added, but my only question is that how many of the codes will it handle. Even when we had electronic bank reconciliation we could only get it to pick up the checks and that was after much persuasion. Never could get the deposits to reconcile. Would be nice to be able to get Checks, Service Fees, Deposits. And will the BAI format already be a standard or will we have to create all the Headers, Detail and Footers for the banks?
If you could you provide more information as to how this feature will work...Will you be able to reconcile all electronic bank transactions to ANYGP transaction? Will you be able to match multiple bank codes to the same GP transaction? How will deposits be matched, by amount as it is now? Thanks,
Thanks for the comment. Yes, Electronic Reconcile will be able to reconcile check, service charge, and deposit transaction types. There are 14 recognized transaction types in GP, and the user is able to map an unlimited number of transaction type codes from the bank format to each of the 14 GP transaction types. Check, service charge, and deposit are among the 14 recognized transaction types in GP.
Yes to the second question, as well. BAI is a file format that you can select, which then creates default settings for the record types in the configurator. Not all banks have the exact same format for BAI, though. Compatibility with BAI doesn’t necessarily mean the bank will use all the same fields on all record types. So users may need to make changes to the default format to match the specific requirements of their bank.
Thanks for the comment. You will be able to reconcile all electronic bank transactions to any GP transaction listed in the Bank Reconciliation module. Yes, there is a one-to-many relationship between the GP transaction types and the transaction type codes that can be assigned from the bank format. So multiple bank codes can be assigned to the same GP transaction type.
The only change that was made for matching criteria was to remove the Bank Cleared Date or Transaction Date as a criteria for matching the transaction when the field is not available in the bank format. The BAI format does not necessarily require those fields for transaction detail, so we can’t necessarily use that as a criteria for matching import file data to the GP transactions. No other changes were made for determining how deposits are matched.