Setting Up - DBS Bank Feeds

Introduction

"Bank Feeds" is a term being used to describe the automatic transmission of bank transactions into Accounting Software. A bank feed is an automatically created list of the transactions (withdrawal and deposit) in your bank account. This cuts out hours of manual data entry required to reconcile accounts.

Bank feed allows you to compare your bank account or credit card transactions and easily add transactions with the information you already have in your data file. Information from your financial institution is sent straight to your data file so you can sort out your banking and reconciliations quickly.

Users can now download bank transactions directly and perform bank reconciliation within ABSS accounting software via ABSS Connect today.

This support note will guide you on how to use the DBS Bank Feeds feature.

Prerequisite:

a. ABSS Premier v21.1 & above or Accounting v26.1 & above 
b. Internet connectivity
c. Data file has to be activated
d. DBS IDEAL account
f. For Accounting user or Premier user who only use local currency, please set your Window Currency format to SGD or SG$

Important Notes:

a. User will receive yesterday's (T-1) DBS Bank Feed data upon successful activation.
b. DBS Bank Feed data is available every Tuesday to Sunday, by 9am (SGT).

Setup Video

Setup Bank Account in ABSS Connect

If Bank Account is not already setup:

1) User is required to login via ABSS Connect.

2) Enter the email address and password previously used to sign up, and click ‘Login’.

3) Click on the DBS Bank ‘Connect’ button

4) User will be prompt to enter the Organization ID, user need to make sure that the input ID is case-sensitive and follow the Organization ID provided by DBS Bank.  

User will then redirected to DBS IDEAL portal and required to sign in.

5) Upon successful signed in DBS IDEAL portal, user will then be redirected back to ABSS Connect, DBS Bank will now show “Connected”.

6) User can now logout from ABSS Connect.

B. Bank Feeds Account Mapping

1) User is required to select their DBS bank account in ABSS accounting software to map for Bank Feed services.

2) Go to Command Centre > Accounts > Accounts List, open the Bank Account that user wish to map for Bank Feeds.

3) Edit Accounts window opens, go to Banking tab.

4) User is required to click ‘Link’ button, in order to see the available bank accounts for mapping.

5) If user has not login to access Bank Feed services, it will then prompt user to login.

6) The following window will be prompted, user can proceed to map the bank account from app (indicated on right hand Select-From-List), to the available bank account provided by DBS Bank.

7) Click 'Use Online Account' to save the mapping.

C. Bank Account Reconciliation

1) User can go to Banking Command Centre > Bank Register, following window opens:

2) From the drop down button, user selects the bank account that successfully linked for bank feeds.

Note: upon selected bank account that has linked for bank feeds, ‘Bank Feeds’ button will change to ‘Sync’ button.

3) User is required to enter the date range for that bank account

4) Click 'Sync' button which will automatically download bank feeds for that account.

5) If user have not login to access Bank Feed services, it will prompt user to login.

6) Once user has successfully login, Bank feeds will be downloaded

7) If there are any transactions from the downloaded Bank Feeds which was not captured in data file, it will display accordingly (see below) for user to take further action.

8) User will need to click on the 'Actions' button and select the Add Transaction to add missing transaction that is not captured under the data file.

9) Once clicked on Add Transaction, it will bring user to either Receive Money or Spend Money page where user is required to select the account and key in the amount accordingly before recording.