How bank feeds can work for you
It’s simple to work with bank feeds. First you get your bank feed, then you compare the information you receive from the bank with the information available in AccountRight. If necessary, you can add a transaction if it is not already recorded in AccountRight. Then, you just need to confirm that everything received from the bank agrees with what you’ve got in your software. This is called ‘approving’. You can use bank feeds to reflect the way you maintain your business records. For example, you can use bank feeds:
- For transaction entry. Use bank feeds as a key way of entering information in AccountRight. Bank feeds speeds up transaction entry, as a lot of the work is done for you.
- To get up‐to‐date bank information. Depending on how frequently your bank updates your feed, you can get information from bank feeds faster than from other sources. Instead of waiting for a remittance, you’ll know when a customer has paid you the moment it appears in your bank feed.
- As a reconciliation tool. When you confirm that the information from your bank matches the information in AccountRight, your AccountRight transactions are automatically prepared for reconciliation. You have a lot less work to do when it comes time to reconcile your accounts.
The Bank Feeds window When you get your bank feed, the bank account transactions and your matching AccountRight transactions appear side by side in the Bank Feeds window. This is where you work with bank feeds
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