Bank Feed
Also called: bank feeds
What is Bank Feed?
A bank feed is an automated connection that pulls transactions from a bank account into accounting software, so entries appear without manual typing or statement imports.
What a bank feed does not do
Feeds remove data entry but not judgement. Transactions still need categorising to the right head in your chart of accounts, and matching to invoices and bills. A feed left to run without review produces a fast set of wrong books.
When there is no feed
Where a live feed is not available, a statement parser does the same job in batch: it reads a PDF or CSV statement and categorises it into a workable ledger, ready for bank reconciliation. The review step is identical either way.
Frequently asked questions
No. It supplies the transactions; reconciliation is still the act of agreeing your books to the bank balance and explaining the differences.