About bank feeds

Easily import transactions from your online bank account using bank feeds. This saves time manually entering transactions, simplifies your bank reconciliation, and ensures your accounts are up to date and accurate. You can have an unlimited number of bank feeds.

The bank feeds service connects directly to your bank account via a secure service, then displays banking transactions. You can then choose to create new transactions, which are imported immediately into your accounts. Or, you can match transactions with existing transactions that have already been entered.

Bank feeds by Yodlee

Bank feeds is an optional service provided by Yodlee, a third party online banking solution provider. Yodlee connects to your online bank account and retrieves statement and account transaction information for you to use with Accounting.

The system doesn’t store your online banking credentials. This information is managed by Yodlee, which is certified as a Payment Cards Industry (PCI) Level 1 Service Provider and has EU Privacy Safe Harbor certification. For more information about data security, visit www.yodlee.com/yodlee-security.

If your online banking service uses multi-factor authentication security, you must enter your security key or passcode when you set up bank feeds and before downloading transactions.

We recommend you confirm with your online banking provider whether using bank feeds compromises the terms and conditions of their service.

Before setting up bank feeds

You can link a bank feed to chequing, savings, and credit card bank account types. You can’t link to a Loan, Cash, or Other account type.

You can download transactions from the last 90 days. If you need transactions that are more than 90 days old, you can import your bank statement, or enter the transactions manually before continuing.

If you’re partway through importing a bank statement, you should complete the import first to avoid duplicating transactions. If you’re partway through reconciling your bank account you should complete this.

Settle differences in bank reconciliation

It’s important to consider the date you want to start using bank feeds and import transactions from. Ideally you should choose the day after the date of your last bank reconciliation. If you enter a date before this, the transactions are included in the import but you can discard them.

To set up bank feeds

  • 1. Go to Banking.
  • 2. On the bank account tile, click Connect to Bank.
  • 3. Click Continue.
  • 4. Select a bank you set up previously, or click Select a different bank and follow the instructions to search for your bank.
  • 5. Enter your online banking credentials.

These are the same details you use to log in to your online banking website. If your online banking service uses multi-factor authentication security, you’re requested to enter further security details.

  • 6. Click Add.

Accounting verifies your credentials and lists your online bank accounts.

  • 7. Click Close.
  • 8. Select the account you want to link to.
  • 9. Click Continue.
  • 10. Enter the date you want to import transactions from.
  • 11. Click Finish.

Your transactions are imported and each item appears on a different line, ready to process.

To match, create, or transfer transactions

For each transaction, you can choose to match, create, transfer, or discard, as follows:

Match Automatically matches any existing payments or receipts recorded on the same day for the same value.

* If the match found is correct, select Match.
* If the system can’t find the matching transaction, select Find Match.

The system checks the amount and date against existing transactions and lists any that match. Select the check box for the applicable transaction and then select Confirm match.
Create Use this option to create the transaction. Enter the following details, then click Create:

* Create transaction for – If necessary, enter the contact’s name. As you type, a list of your contacts appears. Choose the applicable contact.
* What – Choose the ledger account you want to record this payment or receipt against.
* Reference – This is the same as the reference on your statement, but you can change it.
* Tax rate – Select the relevant tax rate.


If you create transaction for a payment and do not match it to an invoice, you create a payment or receipt that you cannot allocate to an invoice in the future.
Transfer Use this option to transfer the value from or to the selected bank account.
Enter the following details, then click Transfer:

* Transfer From or Transfer To – Choose the relevant bank account.
* Reference – This is the same as the reference on your statements, but you can change this.
Discard If you’ve already entered the transaction and you don’t want to import it, click Discard.

Once the transactions are imported, they’re automatically marked as cleared in the bank. For more information, see About bank reconciliation.

To download new transactions

  • 1. Go to Banking.
  • 2. Select a bank account.
  • 3. Click New Transactions. If your online banking service uses multi-factor authentication security, you’re asked to enter your security details.

Transactions that appear on your statement since you last imported then appear.

  • 4. Match, create, transfer, or discard transactions as appropriate.

You can also split transactions across different ledger accounts, if necessary.

To refresh your bank feeds

You can manually refresh your bank feeds every 15 minutes.

  • 1. Go to Banking.
  • 2. Select a bank account.
  • 3. Click New Transactions. If your online banking service uses multi-factor authentication security, you’re asked to enter your security details.
  • 4. Click Refresh.

To turn off a bank feed

  • 1. Go to Banking.
  • 2. Select a bank account.
  • 3. On the New Transactions list, click Disconnect Bank Account.

Disconnecting your bank doesn’t remove any transactions from the bank account.

To reconnect your bank account

If you unlink a bank account, you need to set up the bank feed again. To do this follow the steps in the To set up bank feeds section. When you re-link the account, you can choose the previously linked bank from the Existing bank list, or select a different bank.