Organization Module Setup Connect to Financial Institution Tab

To open the Connect to Financial Institution tab, click Connect to Financial Institution on the tab bar at the top of the Organization Settings form with Module Setup selected on the left.

This page will allow you to connect a specified GL Code to your bank account to allow for automatic bank reconciliation. You can also view a list of any bank connections that have already been set up.

 

MIP has integrated Mastercard’s open banking platform (Finicity) to quickly and easily add your financial account information. All data sent from MIP to Mastercard is secure and encrypted.

Note: Learn more about our partnership with Mastercard’s open banking platform (Finicity) in this blog article from the MIP team.

Account Number	The account number associated with your bank account. The system only stores and displays the last 4 digits of the account number.
Account Name	The account name. This is entered when you set up the bank connection. This field can be edited by clicking on the Account Number.
Finicity Account ID	The bank's Finicity Account ID.
Financial Institution	The name of the bank.
Financial Institution ID (FI ID)	Finicity's internal ID of the bank.
Type	The type of bank account.
Connection Status	The status of the bank account
Last Modified	The date the account connection was last modified.
GL Code	The GL Code from MIP that is associated with this bank account.

Add a New Bank Connection

Click the Connect Financial Institution button to set up a new bank connection. A window will open allowing you to search for your bank. The window displays several major financial institutions you can select from, or you can use the Search field to locate your bank. Click on the name or the logo of your bank to select it.

Once you have selected your bank, you will need to agree to Finicity's Terms and Conditions and Privacy Policy on the following page.

Click Next to agree and continue. You will then be asked to log into your bank using your banking User ID and Password. Once entered, you can select the appropriate bank account for your connection and save your settings. The Connect with Cash Account window will then open, allowing you to connect your selected bank account with the appropriate GL Code.

Click Save to save your settings and close the window.