The Envestnet Yodlee Bank Feeds Extension

To quickly reconcile payments made to your bank accounts, the Envestnet Yodlee Bank Feeds service allows you to link your system bank account to your online bank account. This means that the latest bank statement is automatically or manually fed into your reconciliation journal, ensuring that you are always processing the latest payments with minimal risk of errors.

The Envestnet Yodlee Bank Feeds service is only supported in the United States and Canada.

Note

The Envestnet Yodlee Bank Feeds service is only supported in the online version of Business Central. To use this functionality on-premises, you must obtain a cobrand account from Envestnet Yodlee.

The Envestnet Yodlee Bank Feeds service is only supported in the United States and Canada. Only banks residing in these countries are supported, even though banks from other countries may appear in the Envestnet Yodlee Bank Feeds bank selection window in Business Central.

Important

Due to the new Payment Services Directive in Europe (PSD2), after September 14, 2019, you will no longer be able to automatically import bank statements from banks in the United Kingdom into Business Central. We are looking into the possibility of offering this feature again in the future.

The Envestnet Yodlee Bank Feeds service provides the following benefits:

  • Removes the need for manual entry.
  • Improves efficiency and accuracy when doing payment reconciliation.
  • Supports a large number of banks.
  • Allows up-to-date information about bank transactions from within Business Central.
  • Supports manual as well as automatic bank feeds.
  • Enables outsourcing of payment reconciliation to an accountant by providing access to bank statements.

Available Bank Feeds

You can check whether a bank is supported by setting up and connecting to the Envestnet Yodlee Bank Feeds service. The bank will appear on the list if it is supported by Envestnet Yodlee.

For more information, see Set Up the Envestnet Yodlee Bank Feeds Service.

See Also

Customizing Business Central Using Extensions
Applying Payments Automatically and Reconciling Bank Accounts
Working with Business Central