Bank Feeds is a term used to describe the link between a bank account and accounting software. Bank Feeds enables the flow of statement information from a bank account into an application.
In Agrimaster; bank statement information for bank accounts flows into the cashbook at the user's discretion.
Agrimaster uses a third-party Bank Feed service provider called Illion. To setup Bank Feeds, enter the banking credential details into the Bank Feeds tab in Agrimaster.
Bank Feeds is a time-saving feature to speed up data entry and the reconciliation process. You can automatically reconcile bank accounts to existing transactions in the cashbook as well as import and code any transactions showing on the bank feeds but not yet in the cashbook. There is no longer any requirement to manually enter a bank statement closing balance, bank feeds will take care of this.