A bank feed is an online connection between your hAIbooks bank account(s) and your bank or other financial institution that allows you to upload your bank account transactions from your bank statements into your hAIbooks account. Bank feeds can reduce the need for manual data entry and improve the speed and accuracy of bank reconciliations as hAIbooks will automatically match a transaction in a bank feed with a transaction in the system. Learn how to Manage Bank Accounts and how to Manage Rules.
What happens when I Connect a Bank Feed?
When you connect a bank feed:
hAIbooks will upload the last 90 days transactions by default.
hAIbooks will upload transactions every time you log in and every two hours.
You will be able to update the feed manually, too, but not more than once an hour or four times in a 24 hour period for PSD2 providers. When you update manually, hAIbooks will upload all the transactions since the last successful update.
What do I need to Enable Bank Feeds ?
To enable bank feeds in Haibooks you will need:
An internet connection (that you need for Haibooks anyway.)
A bank account with a financial institution that supports Haibooks’ bank feed system.
How do I Connect a Bank Feed for the First Time ?
If you have not yet connected to a bank feed from any financial institution, you can do it in two ways.
Either select Banking from the sidebar menu. Click on Connect Bank Account.
Or you can do it from your Dashboard. In the Bank Accounts block select Connect New Account. By doing this, the information of the new account will be filled in automatically when you enter the information to log into your account.
You will be taken to the Connect Registration Form where you will be asked the name of your financial institution. Then you will have to type in your user ID and your password. Click on Log In.
It will then take you the Connect Bank Feed page when you will need to select the bank you would like to connect with. Then you will have to choose a Bank Account. You can adjust to a different time period by selecting Set Period. When finished, select Connect.
Note : the feed won’t fetch transactions dated prior to your business start date in hAIbooks.
How do I Connect with Other Bank Feeds ?
If you’ve already connected with your financial institutions through hAIbooks and would like to connect other bank feeds :
Select Banking from the sidebar menu
Click on Connect Bank Account. Haibooks will display a list of your banks that already have a feed connected from one of your bank accounts. You can also connect a feed with a new bank by selecting +Add Account. You will be taken to the Connect registration form if you do so.
Select the bank you’d like to connect to from the list. If you have more than one active account with that bank, each account will be shown.
Note : the bank accounts might relate to different companies that you own, so make sure that you select the correct one the matches the banking record you set up in Haibooks.
Choose the bank account you’d like to connect to and then select Connect. hAIbooks will automatically fetch the past 90 days transactions. If you’d like to upload transactions from a different start date, choose a start period by selecting Set Period and then Connect.
How do I Update a Bank Feed ?
Once you’ve connected a bank feed, the feed will automatically upload the previous day’s transactions when you log in. However, if you’d like to update the feed manually, it’s very straightforward. You can update a bank feed (i.e. upload all new transactions since the last upload) in two ways.
Either select Banking from the sidebar menu and then Select Reconcile Transactions. Click Refresh from the Account Information block.
Or you can also do it from your Dashboard. You need to click on Refresh from the Bank Accounts block.
Note : the Account Information block will also tell you when the feed was last updated (either manually or automatically).
How do I Disconnect a Bank Feed ?
Select Banking from the sidebar menu.
Select Reconcile Transactions.
Click on Manage Account then select Disconnect Bank Feeds from the drop-down menu.