How to Process Bank Feeds

The Bank Feeds Processing workflow enables you to review, categorise, and reconcile automatically imported bank transactions, transforming raw banking data into accurate accounting records. Processing bank feeds is the core bookkeeping activity in Exacc, converting daily financial activity from your bank into properly categorised income, expenses, and balance sheet movements that feed your financial reports and ensure compliance with accounting standards.

Exacc presents imported transactions in an intuitive interface displaying transaction dates, descriptions, amounts, and suggested categories based on historical patterns and bank rules. The system automatically flags potential matches to existing invoices or bills, allowing you to reconcile payments against outstanding receivables or payables with a single click. For new transactions without existing records, you categorise them by assigning Chart of Accounts categories and appropriate GST treatments, creating the accounting entries that maintain your general ledger.

Bank rules provide powerful automation capabilities enabling you to define criteria for automatically categorising recurring transactions such as utilities, subscriptions, loan payments, or regular supplier invoices. Once created, bank rules apply to matching future transactions reducing manual processing time whilst maintaining accuracy and consistency. The system supports transaction splitting for complex entries requiring allocation across multiple accounts or GST categories, handles transfers between connected accounts to prevent double-counting, and provides bulk processing tools for reconciling multiple transactions simultaneously.

Want to learn the exact steps to efficiently process bank feeds and maintain accurate records? Follow our guide below for a detailed walkthrough of the bank feeds processing workflow.