Bank Feeds

What are Bank Feeds?
Bank feeds are a secure, automated connection between your bank accounts (including credit cards) and your accounting software. They automatically import your transaction data, eliminating the need for manual data entry or uploading statement files (like QIF or CSV).

Current Reconciliation Methods & Upcoming Challenges
Currently, you might be manually entering bank transactions from paper statements, or painstakingly downloading QIF/CSV files from your online banking and then importing them. While these methods eventually get the job done, they are incredibly time-consuming, prone to errors, and can lead to significant delays in understanding your true cash position. As businesses grow and transaction volumes increase, these manual processes become unsustainable, leading to reconciliation backlogs and inaccurate financial reporting.

Do I Need Software with Bank Feeds?
While not mandatory for basic bookkeeping, using software with direct bank feeds can save you significant time, drastically improve accuracy, and provide up-to-date financial insights. With the increasing need for real-time business intelligence, automating this crucial data entry step is a smart move for any modern business.

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Monthly Fee

$19.95 AUD

  • Everything in the Starter Plan

  • Storage for attachments

  • Multi-currency

  • Recurring Invoices & Bills

  • Invoice & Journal Imports

  • Payroll & STP Reporting *

  • Linked Bank Accounts (up to 2) ^

See all our features

Features Highlights

Automated Transaction Importing

Say goodbye to manual data entry. Our bank feeds automatically pull your latest bank and credit card transactions directly into your accounting software daily, ensuring your records are always current.

Intelligent Transaction Matching & Coding

Our smart algorithms suggest matches between bank transactions and existing invoices, bills, or apply previously used coding rules. Spend less time categorizing and more time analyzing.

Effortless Bank Reconciliation

Reconcile your accounts in minutes, not hours. With transactions automatically imported and intelligently matched, you can see exactly what’s cleared the bank and what’s outstanding with a few clicks.

Secure & Reliable Connections – Powered by CDR

Your bank feed connections are established using a Consumer Data Right (CDR) accredited provider. This is a secure, government-regulated framework ensuring that your financial data is accessed only with your explicit consent and under strict security and privacy standards. You can learn more about the robust protections and participating providers under CDR at www.cdr.gov.au.

Bank Feed Australian Institutions

Connects to over 140 Australian financial institutions, including the Big Four banks — ANZ Bank, Westpac, NAB, and Commonwealth Bank (CBA) — as well as numerous credit unions and business credit card providers.

Bank Feed Australian Institutions

How Gimbla Accounting Simplifies Bank Reconciliation

Gimbla Accounting is designed to make bank reconciliation effortless by automating data import and streamlining matching:

  1. Securely Connect Your Bank: Link your bank or credit card accounts to Gimbla Accounting in a few simple steps using our secure, encrypted connection portal.
  2. Transactions Flow Automatically: Once connected, your transactions are automatically imported into Gimbla Accounting on a daily basis. No more manual downloads or uploads.
  3. Review, Match & Categorise: Gimbla intelligently suggests matches to existing invoices or bills, or applies memorised coding rules for recurring transactions. Simply review and confirm, or easily categorise new items.
  4. Reconcile with Confidence: With all transactions present and categorised, quickly confirm that your accounting records match your bank statements, ensuring accuracy and peace of mind.

Achieve Real-Time Financial Clarity with Automated Bank Feeds

Switching to automated bank feeds revolutionises your understanding of your business's financial health. Instead of waiting until month-end (or longer) to reconcile and understand your cash flow, you get a near real-time view. This allows for quicker, more informed decision-making, proactive management of expenses, and a clearer picture of profitability. This transforms reconciliation from a dreaded chore into a powerful tool for financial insight and control.

Why Accurate Bank Reconciliation Matters

Accurate and timely bank reconciliation is fundamental to good financial management for any business. It's the process of ensuring your company's financial records match the bank's records. Key benefits include:

  1. Accurate Financial Reporting: Ensures the cash balance reported on your balance sheet is correct, which is vital for assessing your business's liquidity and overall financial health.
  2. Cash Flow Management: Provides a clear picture of your actual cash inflows and outflows, helping you manage working capital effectively and make informed spending decisions.
  3. Error & Fraud Detection: Helps quickly identify unauthorised transactions, bank errors, or internal fraudulent activities, allowing for prompt investigation and resolution.
  4. Tax Compliance: Accurate records are essential for correct GST reporting and preparing your end-of-year tax returns, minimising the risk of penalties.
  5. Informed Decision-Making: Reliable financial data allows business owners and managers to make strategic decisions based on a true understanding of their financial position.

Get ready to connect your ANZ, NAB, Westpac, CBA, and other bank feeds seamlessly with Gimbla Accounting Software.

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