Import your bank statements to Surf Accounts on a CSV file. Tally your bank statements with the receipt and payments maintained in the system. You can add transactional details against each bank debit/credit in accordance to your books. With an online accounting software get the benefit of performing all the above tasks anywhere, anytime.
Let’s look at all the functions you can perform with Import Bank Feed and how they might help you in managing your business finances well.
Partial import of feed
You may not require the entire transactional history associated with your bank account. So, deselect the ones that are directly not associated to your business to remove any confusion. Keep only the important feeds like customers payments or credits to suppliers and partially import your bank statement.
Import CSV File
Some banks might not have the provision to generate the digital record of your transactional history beyond a particular time frame. In that case you can get the feed for the dates of your choosing in a CSV file and import it to Surf Accounts for your convenience.
Adding transactional details
You receive payments from your customers on one hand, and on the other your business expenses include employees/supplier payments, maintaining stocks, establishment costs et al. To record the history of each transaction, you can put appropriate account codes, add names and reference number, change the notes etc against the transactions. You can also add GST percentage while allocating payments to parties.
Minimum Manual Labour
Pull in all the customer receipts and payments from your bank statements using import to eliminate the tedious job of manually recording them. You can also set rules in your bank feed against transactions to auto-populate those account codes, thereby saving time and repetitive manual entry.
Compare real and virtual records
Your bank feed shows the real money that has been deposited to your bank till the date of your choosing. However, Surf Accounts India which is an online accounting software, records payments and expenditures virtually. Take for example you have entered a lodgement number against a customer receipt that is unrepresented and awaiting bank clearance. By importing your bank feed, you can check the status of the receipt on a given date.