How feeds work
You connect your bank or card to the software through a secure link. New transactions appear as items to review. You accept, edit or match each one. Accepting means the software creates the entry in the books.
The feed shows what the bank shows, with the bank's descriptions, which can be cryptic. Do not assume the bank's wording tells you the purpose.
Match before you add
Before accepting an item as a new expense or deposit, check whether it matches something already entered, such as a bill you recorded or an invoice you sent. If you add instead of match, you create duplicates: the bill and a new expense, or the invoice and a new income line.
Duplicates inflate both income and expenses and leave payables or receivables open forever.
Writing good rules
A rule says that when a transaction contains certain text, assign a category and possibly a payee. Good rules are specific. A rule on a store name that sells both supplies and personal items will misfile some. Use conditions on the description and amount where the software allows.
Name rules clearly and keep a list. Check the order, since a general rule can override a specific one.
Review on a schedule
Set a weekly time to go through the feed. Check the auto-categorized items, not just the pending ones. Run a vendor report monthly to catch rule-based errors. Disable or edit rules when a vendor changes what they sell, or when you start using a card for something different.
Pay attention to transfers between your own accounts. If the software treats a transfer as an expense and an income, both are overstated.
When feeds break
Connections sometimes expire or miss days. Compare the last feed date with the bank each month. Reconcile to statements, because the statement is the proof, not the feed. If transactions are missing, upload a statement file for the gap and avoid duplicating items already there.
Automation is a helper. The monthly reconciliation and a quick look at the reports are what keep you in control.
A starter list of safe rules
Begin with rules for items that never vary: your software subscription, your insurance payment, the monthly bank fee and your payroll provider's debit. These carry little risk of mixing categories. Leave grocery-style vendors, big-box stores and online marketplaces to manual review, since a single vendor name can cover supplies, equipment and personal buying. As you gain confidence, add rules one at a time and check the results the following week.
Document the rules you rely on in a shared note so that anyone who takes over the books understands why transactions land where they do. When you leave a rule in place for a vendor that has changed what it sells, the error is repeated automatically every month.
Common questions
Are bank feeds safe?
They usually use read-only connections through the bank's system. Use strong passwords and two-factor authentication.
Can rules post transactions without review?
Some can. It saves time but increases risk, so review auto-posted items regularly.
What if my feed shows a transaction twice?
Delete or exclude the duplicate in the feed, after confirming with the bank statement.
This guide is general information, not tax, legal or accounting advice. Rules, fees and due dates change; check with the IRS, the NJ Division of Taxation or a licensed professional for your situation.