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What is a Bank Feed?


A bank feed is an automatically created list of the transactions (spent and received) in your bank account. Bank feeds have been around for a while as part of desktop accounting software. They were integrated into online accounting software only in the past couple of years.

The impact of bank feeds for small businesses has been enormous. Accounting programs can automatically match a transaction in a bank feed with a sales invoice awaiting collection or a bill awaiting payment. This cuts out hours of manual data entry required to reconcile accounts.