You may be able to optionally import transactions from your estate account's bank into the Cashflow tab, saving time and ensuring accounts reconcile (available for most banks and financial institutions in the US and Canada).
After establishing a link to your estate account's bank, you can:
EstateExec uses Plaid to download transactions from your bank, and never has direct access to your banking credentials. Plaid connects to thousands of banks, and is embedded in thousands of apps.
To get started, simply click the Import button along the top of the Cashflow table, then:
You only need to link your bank once; future imports will use the established link to immediately download bank activity when you click Import. Of course, there may be times when your password expires, or other changes occur, requiring you to revalidate your link if requested.
Once you click Import, EstateExec will download all recent transactions from your bank and present an Import Transactions dialog that allows you to easily manage the downloaded transactions (please note that banks normally limit new data to the past 2 years).
Connection Problems: If you have trouble connecting to your bank, see Plaid Connection Troubleshooting for suggestions, and if desired, click the Support button in the bottom right for help from Plaid with your individual case. See also Plaid Connections for some general background information.
The Import Transactions dialog shows transactions downloaded from your bank that you have not yet accepted (or deleted). Before showing you downloads, EstateExec analyzes them and attempts to classify them, as listed in the first column of the Import table:
For each such download, you can:
Order: It's best to handle the downloads in the order listed (with Matched downloads at the top, and New ones at the bottom). As you confirm or select transactions to merge with downloads, they become unavailable for other downloads in the table. Consequently, you may see some downloads that had a possible match convert to New as you work your way through the table, since you decided that the candidate transaction was a match for something else.
New Transactions: EstateExec attempts to analyze unmatched downloads to help you integrate them, trying to intelligently identify which ones are estate expenses, distributions to heirs, debt payments, and so on. You can always override EstateExec's suggestions by Editing the download, setting it to what you want, and saving it. You cannot change the amount of a download, but you can simply Delete it if you feel it is wrong.
As you handle each download, it will be removed from the table, Once you have handled all downloads, you are done (for now). You can come back in the future and press Import again to download any new bank activity that may have occurred.
Select multiple rows using the checkmarks along the left of the table, then click Accept to accept everything selected in one swoop.
Single-click a row to edit the download as a new transaction (which may not be what you want if it is matched!).
Double-click a row for a default action that depends on the classification of the row:
Normally, EstateExec simply downloads any activity from your bank that has occurred since the last import session. However, there may be times when you want to re-import transactions from a certain date range (for example, you mistakenly deleted transactions you now want to see again). To re-import:
Transactions which you have previously accepted will have an "Exists" or "Exists?" label. Simply double-click the rows or select them and press the Accept button to acknowledge they have been handled (or treat them however you want use the New or Match buttons). The reason EstateExec may sometimes be unsure if the transaction exists is that banks change transaction IDs whenever you link/unlink, so if this has happened, EstateExec will attempt to identify that the transaction was already imported based on other criteria such as date and amount (and this may sometimes occur even when not doing a re-import if you have re-linked).
You can link/unlink up to 5 times for any combination of financial institutions (the same bank or multiple banks) within a subscription period (one year).
To unlink your bank, either:
Automatic downloads are an optional feature: you do not have to link to your bank. You can instead enter everything manually, or a mix of both. If you do decide to use automatic downloads, the first year is free, after which you can sign up for additional usage for $19.99 per year (after your free year).