How to set up the same bank login but split among two Ledgersync client accounts?
What happens when a client owns two business entities and those two businesses share the same login? Why is this an issue>? The reason is that most major banks "DO NOT ALLOW" redundant bank logins as they see that as potential security breach.
To explain more, the banks that provide an API do not recognize multiple clients as we do in Ledgersync, rather, the banks see a connection from Mastercard to their bank and they only allow and authenticate only one login. If you do enter the same login 2x, the first client will be ok but the second one will fail and will be errored and cannot be fixed other than deleting. To confirm this is not a bug with Ledgersync, it's a bank restriction that applies to ALL APPS for all financial software solutions, be it Ledgersync, QBO, Venmo etc... it's the same bank policy for all apps.
How to get around this?
Ledgersync came up with a clever way to deal with this once you set up both clients.
1- For client 1- connect the bank (like Chase) and the data will be pulled in
2- Then while still on client 1 click on the "copy account" icon on the top.
3- Select the client that you wish to clone the bank accounts to. The bank accounts will be copied to that client.
4- On the summary page all the way to the right is a little trash can, click on the bank accounts that you don't want for each perspective client. This will allow you to only show bank accounts relevant to that client.
What we have done is allow you to duplicate the bank accounts from one client to another. Keep in mind that Client 1 is the parent bank connection and Client 2 is the child. If for some reason the bank connection for Client 1 is broken it will break Client 2 and this process needs to be repeated. The reason is that most major banks only allow one bank login, and to get around this problem we built a complex back end solution to link the bank data from client 1 to client 2 and so forth.
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