Automate Bank Transaction Imports with Vantagepoint

January 28, 2022
Melissa Coffey
Sr. Director, Product Management

Automatic bank feeds in Vantagepoint allow you to link your bank to Vantagepoint providing the ability to automatically upload your banking transactions directly into Vantagepoint. There are more than 11,000 banks that are currently supported within U.S. and Canada with plans to expand the supported banks in the future.

The automatic bank feed will streamline your current bank reconciliation by automating the import of bank transactions into the Vantagepoint bank reconciliation and then automatically matching these transactions to the posted Vantagepoint payments and receipts. This solution can replace any manual download of bank statement transactions, manipulations within Excel and then upload into the Vantagepoint bank reconciliation with a one-time connection and nightly refresh of recent bank transactions.

Setting up your automatic bank feeds is easy. Check out this video to watch it in action.

In order to get started, you need to connect each bank within Vantagepoint settings with your actual bank. The connection process will step you through selecting your bank, logging into your bank and selecting which account you want to connect. Banks that require multi-factor authentication or Oauth will provide a similar process with the additional steps to enter credentials.

Automatic Bank Feeds in Vantagepoint

Once connected, banking transactions that have cleared your bank will be automatically imported into the Vantagepoint bank reconciliation each night. In addition to the nightly update, you can manually refresh the transactions throughout the day to check for new transactions. 

Automatic Bank Feeds in Vantagepoint

The bank feed provides clear visibility into your banking transactions as well as an easy solution to reconcile your bank statement on a more regular basis.

Automatic bank feeds are available for all Vantagepoint users that have the Vantagepoint accounting module.