Integrating MYOB Acumatica with Bank Feeds

MYOB Acumatica is integrated with Plaid and MX, which are financial service companies that provide secure bank feeds. A bank feed is a secure link between MYOB Acumatica and a company's bank profile, which can include multiple bank accounts. A bank feed is used for the automatic import of bank transactions into the system. A company may create different bank feeds for different banks. Alternatively, if the accounts in one bank are registered to different users, a company may create a bank feed for each user with a separate set of credentials. With this integration, MYOB Acumatica users can automatically connect to their bank profiles, import bank transactions to MYOB Acumatica, and create expense receipts based on these transactions.

Bank feed integration is available in the system if the Bank Feed Integration feature is enabled on the Enable/Disable Features (CS100000) form.

If this feature is enabled, Plaid and MX subscriptions will become available to users in MYOB Acumatica without the need to register separately in Plaid and MX. MYOB Acumatica will store and return Plaid and MX authentication by using a special proxy server through API.

Some banks do not have integration with Plaid or MX bank feeds, but they provide bank transactions to their customers in a file located in an SFTP folder. You can use MYOB Acumatica to load bank statements from this type of file. The system then automatically creates the cash transactions and expense receipts that correspond to the transactions in the file.

The Bank Feed Integration feature is subject to licensing. If an organization needs to map more than one bank feed account, it should buy an appropriate license.