Fast Easy Reconciliations! With AppFolio's Sync Transactions feature you can link your bank accounts to AppFolio to enable fast, seamless bank reconciliations with a simple click of your mouse. Please join us for this short focused Webinar on how to setup and use AppFolio's Sync Transactions feature.

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AppFolio Sync Transactions

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Presentation Details
Team: Breigh Cavender, Kevin Kuhn, Katie Rudolph,
Todd Smith, Jared Straub
Duration: ~1 Hour
Recording: Webinar is Recorded, You will Receive Link
Follow-Up: Email will be Sent within 48 Hours

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Agenda
• Understanding Sync Transactions
• Setting Up Sync Transactions
• Using Sync Transactions
• FAQs
• Bank Reconciliation Tips

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Ask Questions….Please :-)
Send Your
Questions in the
“Questions” Pane of
the GoToWebinar
Panel on the Right
Side of the Desktop

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FAQ’s
Is this being recorded, can I access this information later?
• Yes, it is being recorded and you will receive a follow up email with link to
recording and presentation within a two days
• You can also access information in the help file

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Polling Feedback
How much time do you spend reconciling each
month?
• An hour or less
• 1 to 2 hours
• 3 to 5 hours
• 6 to 10 hours
• More than 10 hours

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Understanding Sync Transactions

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Sync Transactions Overview
• The Sync Transaction feature
allows AppFolio to connect to your
bank and automatically match
transaction activity
• Greatly simplifies the process
• Saves enormous time and
frustration
• There are two steps to using Sync
Transactions:
o Setting up the connection
o Syncing your reconciliation

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Sync Transactions Overview, Cont.
• This Bank Sync functionality supports thousands of banks, though does not
support all at this time. The network is being constantly expanded
• No more than one user syncing accounts at the same time in AppFolio
• When matching items the system will pull all transactions from your bank account
that are within the date range you are reconciling
• Deposits are automatically cleared when the amount matches and the date
matches to within 3 days
• Checks are automatically cleared when the amount is the same and the check
number is the same, it does not look at dates

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Setting Up Sync Transactions

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Establish the Link Within AppFolio
• Nothing needs to be done
with your bank account
• Creates an electronic
handshake between AppFolio
and the bank account
• Enables matching of
transactions
• Easy two-step process
1. Select your bank from options
2. Enter bank details
• TRUSTEe verified

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If Bank not Found
• Currently not every bank
is available
• Most all major national
banks
• New banks being added
all the time
• Can still use OFX / QIF
Import to speed clearing
process

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Managing Notices
• May received notices when
establishing or reconnecting
a Sync
• If bank not found in list at all
it is not currently supported
• If bank is found but Sync not
establishing: it could be
account details related –
verify details entered
correctly
• If bank is found but Sync not
establishing: it could be sync
service related – try again
later

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Using Sync Transactions

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Syncing your Account
• Simple task on Bank
Reconciliation page
• On the Bank
Reconciliation page:
o Confirm the Beginning
Statement Balance with
your bank statement
o Enter the Statement Date
o Enter the Ending
Statement Balance

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Deposit Matching
• The system will match up
transactions if the amount
matches and the date
matches to within 3 days
• If the date in AppFolio is
different from the date
seen in the bank account
the deposit date in
AppFolio will be changed
to match the bank.
3
Days
$ + / -

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Check Matching
• The system will match up
the transactions if the
amount is the same and
the check number is the
same
• Does not look at dates ✓#$ +

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Sync Time Out
• For security purposes the
Sync session has a no-
activity time out
• Please start sync when
you have time available
to complete the
reconciliation

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One User at a Time
• System supports one
AppFolio user conducting
a sync at a time
• Multiple users attempting
to join a session will
receive on-screen notice
another user is currently
conducting a sync
Be prepared to share the happiness,
take turns doing bank reconciliation.

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Managing Notices
• May received notices
when reconciling
• In some cases it could be
account details related –
verify details (date range)
entered correctly
• In some cases it could be
sync service related – try
again later
• Submit support request
as needed

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Manage Synced Accounts
• You can unlink accounts
as needed
• Note: Not a removal of
the account relationship,
to fully remove account
please contact support

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Manage Synced Accounts
• You can unlink accounts
as needed
• Note: Not a removal of
the account relationship,
to fully remove account
please contact support

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Changing Your Bank Account Password
• When you change your
bank account password:
1. Contact AppFolio Support
and request a complete
unlinking of the bank
account
2. Go back into AppFolio
after the link is cleared
and reestablish a new link
using the new password

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OFX / QIF Import
• Always an option
• Download bank
statement in OFX or QIF
format
• Import into bank
reconciliation screen
• A slight bit more manual,
but reconciliation still
automatic and fast

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Demo

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FAQ’s

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FAQ’s
Is my bank supported by the system?
• The Bank Sync functionality supports thousands of banks
• We do not have a specific list as there are too many and new ones are being
added all the time
• Please try linking and searching for your bank as best method to see most
recent list of supported banks

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FAQ’s
How does the system match deposits?
• The system will match up transactions if the amount matches and the date
matches to within 3 days

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FAQ’s
How does the system match checks?
• The system will match up the transactions if the amount is the same and the
check number is the same, it does not look at dates

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FAQ’s
How many people can sync at the same time?
• Only one user per company can use the service at a time
• If a user attempts to link a bank account when another has it open they will
receive an error message on the bank account page that will read: "[User
who currently has it open] is currently using this service. Please try again
later."

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FAQ’s
What do I do if I change my online bank account password?
• Contact AppFolio Support and request a complete unlinking of the account
• Go back into AppFolio and reestablish a new link using your new password

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FAQ’s
Sync Transactions is not working for me, what do I do?
• You can always use the OFX / QIF import to speed the matching and
reconciling process
• Simply log into your online bank account and download your statement for
the desired date range in either an OFX or QIF file format and upload into
AppFolio – the system will match and clear transactions according to same
principles as Sync Transactions

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Bank Reconciliation Success Tips

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Be Careful About Using Bank Adjustments
• Never use a bank
adjustment for
something that you are
not going to reimburse
that month

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Check Bank Account Activity Before Starting
• Check for the month
you are working on to
see if there are any
items that are already
cleared
• Use Bank Account
Activity report
• Customize as desired

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If You Use Owner / Vendor ACH
• Make sure that all
batches were
downloaded in the
current month
• Check for this on the
Check Register Detail
(Enhanced) report

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Make Reconciliations a Daily Task
• Companies that reconcile
transactions to the
general ledger daily can
save a lot of time at the
end of the month
• “It’s easier to find five
transactions a day than to
find 100 at the end of the
month”
“Spend a little bit of time each day on
eliminating exceptions,” Snyder said. “This way
you’re not trying to do it all at once and
dealing with something that happened three
weeks ago.”

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Use Automated Systems
• Automation is critical to
shortening reconciliation
time
• It also allows companies to
keep track of transactions
on a daily basis
• “Without a system, that’s
very difficult,” Snyder said
• If soft recon is not
performed daily, the
exceptions show up at the
end of the period and
accumulate over time
By doing matching, exception identification and
research daily, the end-of-month reconciliation
process goes much quicker. “All you’re doing is
recording the final results,” said Snyder.

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Deal with Exceptions Promptly
• Bankers and treasury
practitioners alike stress
the importance of
identifying and
researching any
discrepancies as soon as
they occur
“Pursue exceptions immediately”

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The Sync Challenge

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Setup SyncTransactions in next 2 weeks
Complete your following 3 Bank Recs using SyncTransactions

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Polling Feedback
When will you do your Sync Challenge?
• April
• May
• June
• Not Sure

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Summary

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Summary
• Understanding Sync Transactions
• Setting Up Sync Transactions
• Using Sync Transactions
• FAQs
• Bank Reconciliation Tips

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More Info
Help & Training Link
Top Right of Page
1. Access Help
2. Visit Forums
3. Submit Support Request
4. Make a Suggestion

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AppFolio’s 3rd Annual Conference
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Pricing Ends
4/30/15

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It’s a Great Time to be In Property
Management
We Look Forward to Working With You to
Achieve Success

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Thank You