Overview

Open Banking integration feature with the Basiq API allows you to securely connect to bank accounts to the system to pass in bank statement transactions into the Bank Reconcilation. Both Trust and Office Bank accounts function in the same way and all bank accounts must be set up. 

To enable Open Banking, you must contact your banking provider to enable this feature.  See these instructions for your banking provider :  Connecting Business accounts via CDR 

Firm Entity Setup Requirements

To set up Open Banking, ensure the following details have been entered on the Firm Organisation entity card. 

1. Access the the Directory and locate your Firm. Ensure the following details are completed: 

• Organisation Name: The organisation name (your Company/Firm name) must be set. 
• Organisation Number: A valid ABN or ACN must be configured - The system will validate that the ABN/ACN is correctly formatted before connecting to Open Banking.
  
• Email: An email address must be configured

Configure Bank Accounts

1. Select the Banking menu, then select your relevant bank account. 

2. Select Update Account in the top right menu. 

3. In the Bank Account Configuration section, select Configure. 

4. Enter the Bank Account details. 

5. Select Save and then reopen the Bank Account Configuration. The Open Banking option should now be available.

6. In Open Banking, enter your mobile number, then select Connect to your bank. 

7. Enter Verification sent to your number

8. Select your Bank

9. Enter the Banking Login credentials

10. After successful login, click Done

Retrieving Bank Transactions Proceed to Bank Reconciliation

Once your bank account to is connected to Open Banking, you can retrieve transactions by following these steps. 

1. From your Bank Account, navigate to Bank Statement

2. In Actions, click Refresh bank feeds

3. After successfully retrieving the transactions, they will be displayed in the Bank Statements table. 

• If the account has prior reconciliations, it will fetch transactions from the last reconciled date
• If there are no prior reconciliations, it will fetch transactions from the first day of the previous month

Proceed to Reconciliation

1. Navigate to Reconciliation on the right.

2. Proceed to process the Reconcilation.