We recently installed financial edge and are attempting to reconcile our bank account. When we tried to clear transactions electronically we have a problem. We use Bank of America and the file formats of their bank statements are only in PDF or Text. None of the file formats that Blackbaud supports.

Does anyone else use Bank of America and if so, do you have a way to clear your transactions in the bank reconciliation?

Thanks

Mark

Mark,

We don't use B of A, so I can't help you there.  But I do use the "Clear transactions electronically" feature on eight different accounts each month.  It's such a time saver! 

Our bank offers the ability to download transactions.  That's probably what you want to do, rather than dealing with the actual statements.  I download all the transactions for the statement period, then use the resulting file for "Clear transactions electronically."    (I'm assuming B of A lets you download transactions.  In fact, I'd be amazed if they don't.)

I had to experiment with the different file formats to figure out the one that worked best with Financial Edge and my bank.  (It turns out that the Quicken and Quickbook format definitions give developers a lot of wiggle room, so what works best with one bank might not with another.)  The Quickbook format (.QBO) works best for me.

Hope this helps.