Bank feed sync

Bank feed sync connects your accounting software to your bank account so that new transactions appear on their own, usually every day. Instead of typing each payment or uploading a statement, you simply match each line to an invoice or a category. Exact Online, Moneybird, QuickBooks and Xero are examples of tools that offer it.

Matching what the bank says to what the books say is the core of bookkeeping, and doing it by hand is slow and prone to mistakes. A feed saves time every week and shows your real cash position quickly. You need it if you have more than a handful of transactions each month. The catch is that support depends on the bank. A tool may connect to many banks in one country and few in another, so the answer for your own bank is what counts.

• Check that your specific bank, and business account type, is supported before you sign up.
• Ask how often the feed updates and how far back it can load old transactions.
• Find out what happens when the bank connection expires and who has to renew it.
• Test whether it can match payments to invoices automatically.