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Bank Feed ? Is it going to make my life easier?

Matt Quigley

We have been using Reckon Hosted for a number of years now. All this time we have been manually "receiving payments".
Is Bank Feed going to change my life by automatically allocating funds in my Bank Account to particular invoices? And, if so, what happens when a Bank Feed credit cannot be applied to any known invoice?
Thank you in advance, I'm just a lowly Swimming Pool Technician!

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Matt Quigley

Is it a difficult task to download the qif file? and does reckon then match the credits with the invoices?

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Matt Quigley

Told me once?

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Acctd4

Some people find the bank feeds helpful but they still need to have the tax coding/accounts set up in order to allocate correctly which – depending on the number/complexity of transactions – can be even more time-consuming!

Personally, I auto-Memorise as many transactions as possible so most of my entries are already in (& in my own preferred entry format!)

It also means they’re already coded & allocated correctly & I can still amend them if/when they change (eg if a monthly bank account fee increases).

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

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