By Eric Kuvykin. Reviewed October 17, 2026. This practical guide replaces an earlier general commentary article at the same address.
A bank feed can remove repetitive data entry while still leaving a business with duplicate imports, unmatched transfers or an incomplete view of cash. Before using a dashboard to trigger spending decisions, reconcile the feed against the underlying account records. Treat the software’s category suggestions as work awaiting review, not proof that the books are complete.
Start with a known opening position
Choose one account and a limited period. Save the account statement or other authoritative source used for reconciliation, then record the opening balance and the feed’s start date. Identify who connected the account and what permission was granted. If historical transactions were imported separately, note their coverage so a later automatic feed does not silently repeat them.
Create a mapping sheet for source transaction reference, date, amount, imported entry and review status. Look for gaps as well as duplicates. A transfer between the business’s own accounts should not be mistaken for new revenue merely because it appears as an incoming amount in one feed. Ask the bookkeeper to determine the correct treatment of unclear entries.
Build an exception queue
List unmatched items with an owner, supporting record and next action. Separate timing differences from true omissions and classification questions. Keep an exception open until the person responsible can explain the resolution. Changing a category repeatedly to force a dashboard total to match makes the report less useful and obscures what actually happened.
Test an edited transaction, a refunded payment, a bank fee and a disconnected feed. Ask the vendor how updates are represented and whether reconnection can reimport old entries. Record the supported recovery procedure before granting the connection access to more accounts. A small test period is easier to inspect than several years of unattended imports.
Control who can change the connection
Give people only the access needed for their role, and keep approval for moving money distinct from permission to view reports where the product supports that separation. Review access when an employee or adviser leaves. Store recovery procedures through the business’s approved security process rather than sharing one owner password among the whole team.
For applications that combine a nonbank interface with an account relationship, consult the FDIC’s third-party app explanation and ask which entity provides each service. Continue with the AMS guide to understanding operations before month-end and payment data portability testing. The New York business guide helps place financial records within a wider operating file. Expand the automation only when the opening position, imported activity and unresolved exceptions are visible to the person accountable for the books.
