Automatic bank feeds are a great way to have your banking transactions appear in Pandle every day. Once set up, Pandle will automatically pull your banking transactions around 1:00pm each day, then all you need to do is categorise them.
The advantages of automatic bank feeds
- You will save time from entering transactions manually or importing them through CSV/OFX
- There is less chance of making mistakes; with manual transactions all kinds of mistakes can be made due to human error and with imports it may be possible to overlap transactions. Automatic bank feeds do not suffer with these issues so you’re much more likely to have accurate banking in Pandle.
- Bank feeds will filter through to the mobile app (once it’s released). This will mean you can categorise your transactions on your phone each day.
How to activate feeds in Pandle
- Go to the banking tab under the ‘Enter Transactions’ menu
- Change the entry method for the bank account you want automatic feeds to apply to. This can be done by clicking the link next to the bank account ‘select entry method’ or if you already have a method chosen you can change from the 'edit' button (shown below):
- Select bank feeds as the entry method then click ‘connect bank account’
- You can then type in the name of your bank, connect the bank account and click done
- Once this is complete you should notice the entry method has been changed next to your bank account. You can then click the + sign next to the bank account or the ‘enter transactions’ button in order to start your first bank feed.
- The first time you load your feeds you will be asked for the date you would like to start the feeds from. It is very important to ensure that you get this right so that you do not overlap previously entered transactions. Pandle will look at the dates of the transactions already entered into your bank account and will suggest a start date for you (which can be overwritten). Your start date can be a maximum of 365 days in the past. Transactions you want to include in Pandle before this should be either manually entered or via a file import.
Once you click 'retrieve data' you will be presented with the status of the feed as follows:
This may take a few minutes depending on the volume of transactions Pandle is fetching. Once the status shows as complete you can check and confirm the transactions by clicking the 'actions' button (shown below).
When checking and confirming your banking transactions you may notice that the transactions for the past few days may not be present. This will likely be due to your bank having a pending status on them. Your pending transactions can be viewed in the pending tab. We do not allow these transactions to be confirmed until they bank tells us they are no longer pending.
Users with multi-factor authentication
For users with banks that use multi-factor authentication (such as Barclays and HSBC), you will be required to refresh your connection sometimes. You do not have to input all of the login details again but instead just the code generated from your card reader/fob. You can refresh your bank account by clicking 'Refresh Bank Feed' at any time:
That’s it! From now on your bank feeds will be automatic, simply check and confirm them at your convenience when they come into Pandle.