Having bank feeds activated in Xero makes reconciling your accounts a breeze. With bank feeds, Xero automatically brings over your transactions for your bank and credit card accounts. Setting up bank feeds is as easy as signing into you online banking. Simply follow the steps below:
- During initial setup of the bank and credit card accounts, you enter the financial institution for the account.
- A notification in green will then appear letting you know if bank feeds are available from this institution.
- Now on the dashboard, there will be a green button below the account name for you to start using the bank feed.
- Click on the green button, and you will be taken to the screen for you to enter your online banking credentials.
- After you enter the credentials, the green button below will appear on the dashboard next to the accounts from that financial institution.
- When you click on the green button, you will be taken to the screen below to choose the feed to associate with this account.
- Choose the corresponding account and the date that you would like for Xero to being importing transactions. If you have imported transactions from a statement or a previous accounting software, make sure that the date does not overlap with transactions already brought over.
- It may take a few minutes, but now your transactions will show up in your feed from the date that you chose.