From what I understand, a “bank feed provider” will synch credit card and bank transactions, so I don’t have to manually input them or upload statements. Assuming this is correct, can someone please explain tell me how to identify and obtain a quality bank feed provider? What does one look for in a bank feed provider?
Anyone that has successfully added bank feed provider for US banks that can shed a light on how can we achieve such integration, will be appreciated.
Any updates? Did you or anyone figure anything out? This is the one feature that’s keeping me from switching over, I didn’t realize I wouldn’t be able to figure out how to link my bank accounts and it’s just too painful to go fully manual at this point.
I believe it’s only available in the US through aggregators, like Yodlee, I haven’t used it, but I think it works. You can also get CSV reports/statements from most financial institutions, and import into Manager.IO
Gotcha. I have a discover card and as I’m evaluating the software and testing it out by adding my businesses, I’m noticing the csv I can export from discover won’t work without some manipulation. I’m just not sure if I can accept such a substantial hitch in my monthly accounting work flow, especially coming from the convenient world of connected bank accounts in my current software. I’m surprised more people don’t talk about that or about any work-arounds they’ve found on this forum. It’s kinda make-or-break for me right now as to whether I can get bank statements or transactions imported monthly without too much headache.
All software packages have their pros and cons - it is up to you to decide is the balance meets your requirements
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I understand, as an accountant, who’s entering many transactions manually, and reconciling many bank/credit card statements, if there’s anything that would make me willing to accept the $47/month for Xero or $75/month for QuickBooks, it would be the integrations capabilities (for OCR document extraction and AP platforms) and bank feeds.
Currently we import csv files downloaded from the bank, and yes, some downloads need a bit fixing (mostly the headers) before importing. We’re also hoping to have this feature: bank feed for USA. Anyone looked into it? Even if there’s a separate reasonable subscription fee for the bank feed, we’re willing to pay for it.