We saw in the company setup section, you are able to have up to 10 different bank accounts in the system. In My Digital, the bank screen is where you can manage all of the transactional accounting related to your company bank accounts. Here you can bring your bank transactions into the system and reconcile your incoming and outgoing payments. All the reconciliation processes post journals to the relevant account codes for you and make the process of bookkeeping simple. Once you have decided how you are going to bring your transactions into My Digital you will see in the image below what this screen may look like in your company.

This screen will show a list of all transactions which have been imported into the system, the details and status of each of these transactions and provides a filter at the top of the screen to help you find specific transactions.

NOTE: This screen will also display any journals which have been created including the bank account code.

There are two ways of importing the bank statements into MDA. You can either:
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Link the bank account using open banking.

Or

You can import the bank transactions via CSV file every week/day.

You can link your bank account to your My Digital Accounts system via Open Banking. This will then pull your bank transactions through to the software without the need of uploading bank statements. To link your bank account to the system you will need to follow these steps:

4. Navigate to Financial Accounting > Banks

5. At the top of the screen you will see the button called "Action" -> "Setup"
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6. You will then see a dropdown option, select "Open Banking” and then press “set up”

7. You will then be taken back to the main banking screen. At the top of the page a new button "Link Open Banking" will be displayed, click that button.

8. The system will now ask you to choose your bank from the list of available banks. Select your bank from the list by clicking on its name, this will redirect you to a URL from your bank. (If your company bank does not appear then open banking is not available)
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9. In the below example we have shown the webpage for linking RBS bank accounts, each bank will have its own webpage and may have different fields depending on their security processes. Follow the onscreen instructions provided by your bank to input your online banking username and password, you will then need to select the specific bank account that you want to link to the software.

10. Once you have completed step 6 you will be redirected back to My Digital Accounts software. Please wait for between 1-5 minutes before using the refresh icon for the first time. When you click on the refresh icon this will pull through any transactions yet to be visible on the software. The refresh icon can be used for 90 days before the account will need to be relinked with the software using the same process (this is a security requirement).

To revoke the existing open banking connection, please go to Financial Accounting > Banks. Then choose "Linked Account Info" from the "Action" button.

This will open a slider with the linked account details. Please click the "Revoke" button on the slider to remove the connection.

Clicking the "Revoke" button will delete the associated requisition ID with Go Cardless. We will send a delete requisition ID request to "Go Cardless" which would immediately revoke the connection.

We will then switch the "Import" option on the bank screen to the "Link Open Banking" option to relink the bank at a later date if you choose to use the feature again.

If you do not have open banking setup between our system and the bank, you can import your bank statements directly into MDA. To use upload function, you have to select set up to "Statement CSV Upload" under Action in Banks screen.
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Once this is done, you can see the Upload button in the banks screen dashboard, click that.
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You will then be taken to the following screen, where you can select the bank format.
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​The available formats are listed below.
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You can download the template for each format if you select the bank format in the list and click "Download".
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If your bank is not listed, then you can use the ‘MDA Format’ which is simply ‘Date, Description, Amount’ See example below.

File type should be CSV, once you’re ready, hit 'Upload Bank Statement'.
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You will now see the last imported status change to 'Import Success' as shown below. If this is at pending, then click the refresh button after a minute or so.

Once it's showing as success, the transactions should now appear on screen for you to allocate.