How to Use Online Banking
By connecting your bank accounts and credit cards through MonkeyPod's secure "Online Banking" option, you can easily match or create transactions in your MonkeyPod as they arrive in your bank account.
What is Online Banking in my MonkeyPod?
"Online Banking" is a feature in MonkeyPod that allows you to receive a read-only stream of transactions from your connected credit card or bank accounts. This setup lets you easily match or create transactions in your MonkeyPod to ensure that everything that is in your accounts has a matching transaction in MonkeyPod! This makes reconciliation at the end of the month easy because you know that the transactions in your bank account have been entered into your MonkeyPod as well.
Where do I connect my bank account in my MonkeyPod?
To connect an account to Online Banking, choose My MonkeyPod from the main menu, then, under MonkeyPod Setup, select Connect Online Banking.
MonkeyPod will display your eligible accounts (checking, savings, and credit card accounts). Click "Connect to Online Banking" and follow the on-screen instructions to connect to your account through the Plaid platform. (A Plaid account is not required, you can connect as a guest.)
Not seeing your accounts? Be sure to add them to your Chart of Accounts!
How do I match transactions in my MonkeyPod?
Once your accounts are connected, you can match transactions at any time by choosing Finance from the main menu, then selecting Online Banking (Match/Add).
Your connected accounts will display a count of the transactions that are ready to match!
Click the Review ## Transactions button to view the transactions that have yet to be matched.
On the far right side you will see three icons that indicate what you can do with the transaction:
Each transaction has three options:
- Hide/Ignore - You shouldn't need this too often, but sometimes there will be a transaction from your bank that you want to ignore and not match to anything in MonkeyPod. Choose this option by clicking the archive box.
- Add Matching Transaction - No corresponding transaction exists in MonkeyPod, so you can record one now based on this transaction. Choose this option by clicking on the + sign.
You can then enter the details like the type of transaction and the payee.
- Review Match Candidates - MonkeyPod found one or more existing transactions that may correspond to this entry from your bank. When a match candidate exists, select the correct match from the options provided.
You can also add a tag for an interaction right from this screen!
Want to learn more about transactions? Check out our article on Accounts, Classes, and Tags.
Notifications to Review Transactions
When MonkeyPod is notified of a new transaction to be reviewed in "Online Banking", it sends a notification (either by email or in the notification center) to all users in your organization who have opted to receive those notices.
Example notification:
To update permissions for your User Roles see Overview of… User Roles and Permissions.
To turn off this specific notification for your account, choose My MonkeyPod from the main menu, and select Notification Preferences under "My Stuff". Look for the entry for "Transactions imported from online banking" under the "Bookkeeping" heading, and turn off the option to receive these messages by email and/or the notification center.
Frequently Asked Questions
I don't see my deposit listed as a potential match candidate, what do I need to do to fix this?
In order for your Online Banking to match to a deposit, you just need to enter the deposit.
My bank keeps losing connection or isn't listed at all - is there something I can do?
From here send an email to support@monkeypod.io as well as to your bank. We'll see what we can do!
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