Bank Feed
A Bank Feed is a technology that automatically brings bank transaction data into accounting software. Think of it like a digital pipeline that connects a business's bank account to their bookkeeping software, automatically updating transactions daily. Instead of manually typing in bank statements, which can be time-consuming and prone to errors, bank feeds automatically pull this information. This is similar to how your personal banking app shows your transactions, but for business accounting. It's a key feature in modern accounting software like QuickBooks, Xero, and MYOB.
Examples in Resumes
Set up and maintained Bank Feed connections for 50+ client accounts
Troubleshooted Bank Feed issues and trained clients on proper reconciliation processes
Automated bookkeeping workflows using Bank Feed technology and Direct Bank Feeds
Managed Bank Feed integrations between multiple financial institutions and accounting software
Typical job title: "Bookkeepers"
Also try searching for:
Where to Find Bookkeepers
Professional Organizations
Online Communities
Job Resources
Example Interview Questions
Senior Level Questions
Q: How would you handle a situation where bank feeds stop working for multiple clients?
Expected Answer: A senior bookkeeper should discuss their troubleshooting process, including checking for software updates, contacting bank support, implementing temporary manual processes, and communicating with clients about the situation and resolution timeline.
Q: How do you ensure accuracy when setting up bank feeds for multiple accounts?
Expected Answer: Should explain their system for verifying account numbers, confirming opening balances, testing the feed with initial transactions, and creating a checklist for consistent setup across all clients.
Mid Level Questions
Q: What's your process for reconciling transactions from bank feeds?
Expected Answer: Should describe their routine for reviewing imported transactions, matching them to invoices or bills, handling split transactions, and ensuring all items are properly categorized.
Q: How do you train clients to use bank feeds effectively?
Expected Answer: Should discuss creating simple instructions, demonstrating the process, explaining common issues, and providing ongoing support for questions or problems.
Junior Level Questions
Q: What are the benefits of using bank feeds in bookkeeping?
Expected Answer: Should mention time savings, reduced data entry errors, real-time financial information, and easier reconciliation process.
Q: What do you do when you notice duplicate transactions in a bank feed?
Expected Answer: Should explain how to identify duplicates, the process for removing them, and steps to prevent future duplications.
Experience Level Indicators
Junior (0-2 years)
- Basic bank feed setup and maintenance
- Transaction categorization
- Simple reconciliation processes
- Understanding of common banking terms
Mid (2-5 years)
- Managing multiple client bank feeds
- Troubleshooting feed issues
- Training clients on bank feed usage
- Complex transaction matching
Senior (5+ years)
- Advanced feed automation setup
- Multi-currency bank feed management
- Integration with various accounting systems
- Team training and process development
Red Flags to Watch For
- Unable to explain basic reconciliation process
- No experience with major accounting software
- Lack of attention to detail in transaction matching
- Poor understanding of banking security protocols
Related Terms
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