After you have set up a bank account in Xero, you may want to take advantage of automatic bank feeds. By setting up bank feeds, your bank transactions will automatically appear in Xero each day, saving you from having to manually upload them. In this tutorial, we will activate an automatic feed for a bank account that has been set up in Xero.
Before going any further, it is important to note that automatic feeds are not available from all banks. If you do not see an option to activate a feed after you set up your bank account in Xero, it probably means that automatic feeds are not available for your account.
Xero does not allow bank feeds to be set up or activated in the demo company so you may not be able to copy the steps in this tutorial in the demo company.
Bank Accounts Section in Xero
To get to the right area of Xero, go to Accounting → Bank accounts from the main menu:
How to Activate a Bank Feed
To activate the automatic feed for a live bank account in Xero, click on the green Get bank feeds button at the top of the account summary or click on Get bank feeds in the drop-down menu on the right-hand side:
In the Connect with bank screen, a box will appear asking you to enter the login details you use for your online banking. This screen will be different for each bank. The picture below shows the details I need to enter for the bank account I am using in this tutorial. The login details you are asked for may be different to mine.
Once you have finished entering your login details and have read the terms and conditions, tick the checkbox and press Next to continue.
Next, you should see a message telling you that Xero may take several minutes to connect with your bank:
Finally, you will be taken to the Start Your Bank Feed screen. Here you will need to select the bank account from which you want transactions to feed into your bank account in Xero.
You can also select a date from which to start importing transactions. If you do not want to specify a date and import transactions as far back as Xero will allow, leave the date box empty and check the All available transactions radio button. Xero will import up to 90 days of transactions if you choose this option.
For my feed, I have chosen the relevant bank account from a drop-down list of available accounts, and I have elected to import transactions from 30 Aug 2018:
Once you have selected your options, press OK to continue.
That’s all you need to do to activate a bank feed in Xero. You should now be taken back to the main Bank Account page. Here you should see a message telling you that Xero is loading your transactions and that you will receive a notification when they are ready. At some point in the next day or two, you should see the first lot of transactions in Xero for your bank account.