I am really struggling to understand the live bank feed. I would like it explaining as easy as possible.
Before the live bank feed, I used to enter a supplier invoice (purchase tab) use the paid option underneath, then manually check the quickfile bank statement alongside the Santander paper statement…easy!!
I thought having the live bank feed would make it easier - so I realised that I didn’t need to enter the purchase payment details as they were coming in direct form the feed, so I deleted the payments. Now as times going on I’m not sure if I need to use the supplier purchase option as everything is coming through twice on the Santander live feed, even without entering any details on purchases?
It’s so confusing, and I would appreciate a step by step guide of what to do if anyone could help.
Thank you Davina
Hi @davina
The bank feed will only bring in the transactions from your bank, and unless you have bank tagging rules, no purchase invoices will be created from them.
What the feed does, is connect with the bank, request the transactions since your last update, and adds then to QuickFile. You’d be right in saying you don’t need to mark an invoice as paid, but you should still tag the payment. The overall effect is the same, it’s just from the bank side of QuickFile rather than the invoice side.
I hope that helps?
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