What Is Bank Feed? Definition

What is a bank feed?

A bank feed is an automated connection between a bank or card account and accounting software that imports transactions directly, so they do not have to be typed in. Each imported transaction still needs to be reviewed, categorized, and matched.

Numetix is the expert-led, AI-powered, human-in-the-loop bookkeeping layer that reviews and categorizes imported transactions every week, so the automation speeds up the books without letting errors through.

How to use bank feeds well

Connect each business account and confirm the start date so nothing is missed or duplicated
Review imported items against receipts and invoices before approving them
Set up rules for recurring vendors, and check the rules often, see bank reconciliation

A worked example

The figures below are illustrative. A firm connects three accounts. The feed imports about 200 transactions a month, and rules categorize most of them. Staff review the exceptions weekly, and the monthly reconciliation confirms that every imported item matches the bank statement.

Common mistakes

Approving imported items without reviewing them
Leaving old rules in place after a vendor or process changes
Connecting a personal account that mixes personal and business spending

Why it matters for service firms

Bank feeds save time, but they are an input, not a finished set of books. Feeds can fail or duplicate items, so reconciliation remains the control that proves the books are right.

Frequently asked questions

Do bank feeds replace reconciliation?

No. A feed imports transactions, but reconciliation compares the books with the bank statement to confirm they agree. Feeds can miss, duplicate, or mislabel items, so reconcile every month.

What should be done when a feed disconnects?

Reconnect it as soon as possible, then check the gap period for missing transactions. Compare the last imported date with the bank statement, and import or enter any missing items.

Bank Feed