If you are using Accounting in Odoo and need to sync several thousand bank statements daily for reconciliation, you may frequently encounter errors from Odoo that are only logged in the chatter, without any notifications sent to the responsible parties. Unfortunately, Odoo may be unable to assist you, as these errors often stem from Yodlee and Plaid. Obtaining support from Yodlee and Plaid can be challenging for you.

If you are in Australia or New Zealand, here is a stable solution for you. It allows real-time syncing of bank statements and supports almost all banks in Australia and New Zealand. Whenever Odoo fails to connect with a bank for any reason, an email notification will always be sent to the relevant parties.

Why should you choose this app:

Configuration:

This app will integrate with Basiq.io through API calls to sync bank transactions to Odoo. You can refer to more information about Basiq.io from the link below:
https://www.basiq.io/home.html
1. Create Basiq API Key
After creating a Basiq account, please go to Basiq Dashboard and create a new Api key


Go to Accounting --> Configuration --> Setting and add Basiq Api key into Odoo

2. Create Basiq User

After creating a Basiq user. Go to user details and copy Basiq user id
3. Sync Basiq User to Odoo
Go to Accounting --> Configuration --> Setting --> Basiq Setting --> Basiq Users

Create a new Basiq User on Odoo.
Click on 'Sync Basiq User' button, paste Basiq User Id and click on 'Confirm' Button.
Odoo will sync Basiq User info to Odoo form view.
4. Create a consent.
There are two ways to create a consent.
1. Create a consent from the Basiq Dashboard.

If you already have a consent on the Basiq Dashboard, you can click the 'Retrieve Consent' button on the form to fetch the consent information into Odoo.

2. Create a consent from Odoo form view.
Click on 'Consent Authorized Link' button to create a Basiq consent.
Odoo will redirect you to Basiq consent page. Click 'Continue' Button
Basiq will send you an OTP code via SMS to the phone number you used to create your Basiq user.
After input OTP, You need to approve sharing your financial data with Basiq. This consent will be valid for 365 days.

You need to select your bank which will be connected to Basiq.

If you want to connect to a bank for testing, you can select the 'Hooli' bank as shown in the image below.

Login id: laurieBream
Password: business2024

After you input login id and password. The connection has been successfully established. You can close this screen.

Reload the Odoo form view, and you will see the consent information as follows.

And on the Basiq Dashboard, you will also see the consent information and bank connection as follows.


5. Create Webhook.
Create a consent webhook to receive notifications about consent. For example, when consent is about to expire.
Go to Accounting --> Configuration --> Basiq Settting --> Basiq Webhook

Create new webhook

Enter "/basiq/consent/webhook" for 'Url Endpoint'
Enter "consent.created, consent.expired, consent.warning, consent.updated, consent.revoked" for 'Subscribed Events'

After saving form. You will see Basiq webhook Id.

6. Select Bank to synce bank statement.
After you create consent and connect your bank with Basiq, you will see a list of bank accounts. From the Basiq User form view, you can select the bank accounts from which you want the bank statements to be synced to Odoo.
On the Basiq User form view, click on 'Get & Update Account' button

A bank account will be added to the Basiq Account Line.

7. Create Bank Account Online Synchronization.
Go to Accounting --> Configuration --> Banks --> Basiq Online Synchronization

Create a new 'Basiq Account Online'

You need to select the Basiq Bank Account that you chose in the previous step. Next, you need to select the Journal.
Before performing the 'First Fetch Transactions' you should determine a cut-off date. This means that bank transactions from this date onward have not been entered into Odoo. This is very important as it will affect the balance of the Journal.
Click on 'First Fetch Transactions' button for first synce.

Input your cut-off date and click on 'Confirm' button. Odoo will get all transactions from cut-off date to today
After you perform the 'First Fetch Transactions,' you will see the following information on the form view.

'First Sync Date' is The cut-off date.
'Last Transaction Date' is the transaction date of last transaction on Basiq. It is not the current date. When automatically syncing transactions, Odoo will fetch transactions from the 'Last Transaction Date' to today.
'Last Success Sync': The last time Odoo successfully synced transactions.
'Automatic synchronization': If this option is checked, bank transactions will automatically sync to Odoo. Each day, Odoo will automatically sync four times.
Now, let's review the bank transactions that have been synced from the cut-off date to today.
These are the bank transactions for the 'Business Transaction Account' from July 22, 2024, to August 2, 2024, on the Basiq Dashboard.

And here are the bank statement lines for the 'Bank-Transactions' Journal.
The bank transactions for the 'Business Transaction Account' have been synced to Odoo and imported into the bank statement lines of the 'Bank-Transactions' journal. The account balance on Odoo matches the account balance on the Basiq Dashboard.

At this point, you have completed the configuration to enable Odoo to integrate with Basiq. The remaining task is that each day, Odoo will automatically sync bank transactions and import them into the bank statement lines. If there are any issues preventing the sync of bank transactions, Odoo will send an email to the list of followers in the Basiq User document.

List features:

1. Bank transactions will be synced four times a day.
App create a scheduled action and call Basiq to sync bank transaction.

2. An email notification will always be sent if Odoo is unable to connect with Basiq.
You need to add user to list follower into Basiq User Document and Basiq Account Online Document.
This notification will help you detect issues early in the process of syncing bank transactions or connection issues between Odoo and Basiq.
You will receive an email like this if there is an issue during the bank transaction sync process.

3. An email warning when the Basiq consent is nearing expiration.
According to the CDR (Consumer Data Right) regulations, Basiq cannot store bank account and bank transactions when the consent between you and Basiq expires. When the consent expires, Basiq will automatically delete the bank accounts and bank transactions from the Basiq Dashboard.
Note that if bank transactions are deleted on Basiq, it will affect the transaction sync between Odoo and Basiq when you create a new consent. Odoo will not be able to recognize which transactions have been synced to Odoo and which transactions have not been synced. At this point, you will need to select a new cut-off date.
App create a scheduled action to check consent expiration.

30 days before the consent expires, you will receive an email like this


You need to click the link in the email to extend the Basiq consent.

4. Fetch bank transaction from Basiq manually.
You can manually fetch transactions by clicking the 'Fetch Transactions From To' button.

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