A Xero bank feed automatically imports transactions from your bank account into Xero, providing a real-time view of cash movements and enabling efficient reconciliation.
Xero bank feeds are direct connections between your bank accounts and Xero that automatically import transactions. Most major banks support direct feeds to Xero, providing transactions within 24 hours of processing. For banks that do not support direct feeds, Xero uses aggregation services. Once imported, transactions appear in the bank reconciliation screen where they can be matched to invoices, bills or new transactions. Xero's bank rules can automate some categorisation for recurring transactions. SortBooks takes bank feeds to the next level by applying AI to categorise every incoming transaction with 97%+ accuracy, match payments to invoices and flag anomalies - transforming the bank feed from a data import tool into an automated bookkeeping system.
SortBooks automates the bookkeeping processes related to xero bank feed by connecting to your Xero account and using AI to categorise transactions, reconcile bank feeds and generate accurate reports. Instead of manually managing xero bank feed, SortBooks handles it automatically with 97%+ accuracy - saving you hours every week and ensuring your books are always up to date and compliant.
A bank feed is an automatic, real-time connection between your bank account and your accounting software that imports transactions directly, eliminating manual data entry.
Bank reconciliation is the process of matching your accounting records to your bank statement to ensure they agree. It identifies discrepancies, errors and missing transactions.
Xero is a cloud-based accounting platform designed for small businesses. It provides invoicing, bank reconciliation, payroll, reporting and integrations with over 1,000 third-party apps.
Transaction categorisation is the process of assigning each financial transaction to the correct account in your chart of accounts. It is the core activity of bookkeeping.
Bookkeeping automation uses technology to perform repetitive bookkeeping tasks without manual intervention, including transaction categorisation, reconciliation and report generation.
SortBooks handles all the complexity automatically. Just connect Xero and let AI manage your books.