Introduction to Automated Bank Feeds
Automated bank feeds are available for most major UK banks and many others worldwide. To use this feature, you'll need to connect your bank account to Farmplan Business Cloud. If you haven't done this yet, please refer to our 'Setting up Bank Feeds' article.
Checking and Confirming Transactions
With bank feeds, there's no need for manual entry or importing. You simply need to 'check and confirm' your transactions in Farmplan Business Cloud.
How to Enter New Transactions
Click Banking | Bank accounts > Click the green ticks under actions to access the check and confirm screen
Use the Quick Links menu and select the account to confirm transactions
You will then see a list of transactions to check and confirm.
Understanding Transaction Types
There are four main types of transactions:
Cash Analysis Based Entry
Allocating the statement line through the bank rather than allocating to an existing invoice on the system.
Money In: For amounts received directly into your bank account (e.g., direct payments, wayleaves)
Money Out: For payments leaving your account (e.g., direct debits, cheques for insurance, utilities, rent)
Note: VAT is declared upon entry of the receipt or payment for Money In/Out transactions when no invoices have been entered previously.
Invoice-Related Transactions
Customer Receipt: For amounts received from customers with issued invoices
Supplier Payment: For amounts paid to suppliers who have issued invoices
Coding your entries
For one-off transactions, complete details manually. For regular payments, you can set up a Bank Rule for automatic future coding.
Key Fields for Manual Coding
Category
Enterprise (if applicable)
Description
Currency (for multi-currency use)
Quantity/Price (if applicable)
Net amount
Tax Code
Tax amount
Handling Multiple Line Items
Use the Split button for transactions with multiple items. The system will show an 'Amount Left' figure to help you allocate the total correctly.
Managing Invoices
Change the transaction type to Customer Receipt or Supplier Payment when clearing previously entered invoices. Select the supplier or customer under 'Categories' and then click the green 'Invoices' button to choose which invoice(s) to allocate to.
Underpayments and Overpayments
For underpayments, allocate against relevant items
For overpayments, use the Overpayments feature to manage excess amounts
Confirming Entries
Once satisfied with each transaction:
Click the checkbox at the end of the line
Confirm them at the bottom of the screen
Understanding Transaction Tabs
Check: Main tab for transactions needing confirmation
Confirmed: Historical list of checked and confirmed transactions
Pending: Transactions in 'pending' status (can take 1-10 days to clear)
Ignored: Deleted transactions that can be restored if necessary
Bank Reconciliation
For manual bank account reconciliation, please refer to our separate article on this topic.
Farmplan is a trading name of Telus Agriculture & Consumer Goods (UK) Limited, which is an agent of Plaid Financial Ltd., an authorised payment institution regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 (Firm Reference Number: 804718). Plaid provides you with regulated account information services through Farmplan as its agent.