AUTO BANK FEED

Let AJS’s Bank Feeds work for you while you sleep…..

What? That’s preposterous.

It’s almost like saying â€œBank Feeds On”. Like a command. Or a spell, if you wish. 

Almost like the words “Auto Bank Feeds” could lead one to believe that Goblins are behind it all. You know, like the ones from Gringotts Wizarding Bank? 

With extraordinary security in place (like secret passageways and dragons) protecting what they hold most dear – money and valuables – they are not only ideal guardians for the valuables of the Wizarding World, but because they are from the Wizarding World they are able to enforce charms and command dragons and other creatures to protect money and valuables. Whilst also being able to automate their bank feeds.

It’s plausible. At the very least. 

And to outsiders, with having their Bank Feeds automated it would not be entirely hard to imagine a Goblin working magic behind the scenes. Don’t you think?

But this is not Diagon Alley

Well no. Unfortunately not. 

This is the real world, where real day-to-day things need to happen. Like banking and reconciliations. Like knowing where your practice and business is headed. Like knowing how much money you have in the bank.

Can you pay your employees? Can you cover expenses? Do you have excess cash flow? Or are you in the red?

So many pressing questions – it feels like there is a lot for Bookkeepers to keep track of. Almost like they need four hands or a magic wand just to be able to get the job done. 

Also always a lot of “red tape” to wade through just to get to the simplest of answers. Goblins seemingly on top of this one 100% with their penchant for strict security.  

Log in here, put credentials in there, ensure everything is safe and secure (obviously) all to find that one very specific transaction a senior partner needs to know about – “Were we paid???” 

So much time is wasted.

But do you want to hear the good news?

We have the solution for you. 

It is so marvelous that you will be wondering what you have been doing all this time without it. 

The team at AJS have employed their own “Goblins, Witches and Wizards” from the Wizarding World to bring you the most amazing feature – you can actually work whilst you sleep. No jokes.

By automating your bank feeds. 

And you can easily locate that one very specific transaction to let your senior partner know that “Yes, you have indeed been paid”. 

No longer massive amounts of red tape to wade through, no longer months and months of transactions to pour over. 

Simple, effective, efficient and secure.

Similar, in fact, to Gringotts. Only digital. 

Alright, enough already with the Harry Potter metaphors!

Sure, we get it. Your time (and patience) is short. You need answers. Now.

We understand. So let’s get down to it. 

What exactly are “Auto Bank Feeds”? 

Good question!

With AJS’s Auto Bank Feeds you are able to log on to your online banking platform through the AJS system (of course, we are a little “Goblinish” ourselves and insist on strict security controls). But you no longer need to leave the AJS system to log on to your online banking platform on another page. Going through the whole tiresome process of inserting all your details, passwords, credentials and authorisations only to sift through hundreds of transactions to find that one particular transaction in question.

A tip! It is important here that you approach your bank to let them know that you are integrating your online banking platform with your practice management software and will require a “read only” profile. 

What’s more? 

You can connect to your banking system via the AJS system manually to download your bank statement (i.e. by simply clicking a button). Or you can schedule the statement to download during the early hours of the morning and arrive at your desk, coffee in hand (obviously), to find out exactly what the monetary situation of the practice is – it will be there just sitting and waiting for you.

And you will know all this because you will get a little notification and/or email that the statement has been downloaded and is ready to view. This notification will appear on your home screen and resembles a “WhatsApp” message icon – i.e. “1 new message”. That way you never miss a thing! Best of all, the statement will be ready to view as an attachment – no need to log into any other system, just our AJS system. A one-stop-shop really. 

With both methods – manual or scheduled – you are able to set a specific pre-selected (by you) date range. That way, you only see the necessary (and possibly latest) transactions as opposed to everything from the last month. 

The added bonus (besides saving you time) is that you get to report on the monetary situation long before the senior partners even ask you – almost like you already knew it was coming. You pre-empted it. And by so doing, you remain firmly on top of your game. And always in the know. 

Really getting the AJS Auto Bank Feed to work for you whilst you are sleeping, or simply away from your desk (you can schedule the bank statement to download at any scheduled time) – What a win!

But wait, there is even more!

Once the statement has been downloaded, AJS will match any transactions based on time, date and narration and highlight them for you. Saving you the time you would normally have spent searching for a specific payment. 

What’s more, you also have the option to tick those transactions in bulk or individually – making reconciling a breeze. Potential matches can be rejected and ticked off at a later stage. The result? You remain in complete control of your bank recon.

The spreadsheet of downloaded statement transactions can also be imported in batches, so there is no manual capturing or transposing numbers because you are using the bank statement as your source data.

A note! This isn’t more complicated. This works in exactly the same way as a straightforward bank statement. Only here, AJS undertakes the arduous task of getting all the information from the bank for you – you can sit back, relax and wait for your scheduled statement to download. It’s all taken care of. No stress. No hassle. Just answers. And saved time.  

And one more fantastic thing – you will have a running balance of your bank recon visible on your recon screen which you are able to compare to the running transaction history – almost like having a “ready to view” side by side comparison. That way you can always ensure that you are reconciling to the correct balance. Everything square and accounted for. 

Bookkeeping is finally made simple! 

Do you see why this resembles the work of the Wizarding World? It really is pretty special. Pretty remarkable. Almost unbelievable. Like a “magical hand” was involved somehow. But we assure you, it is simply AJS’s Auto Bank Feeds at work.

Really empowering the accounting and bookkeeping departments. 

So go on, bookkeepers and accountants of the world – take the power back!

Our mission

AJS has made it their mission with their Version 4 update to save you time whilst also ensuring that your practice always remains on top of everything. 

And with the addition of this rather fancy Version 4 update feature to our current services offerings, we believe that not only will your accounting department remain on top of things, but they will also remain in the know at all times. Especially where it counts – with your money.  

And we can say with absolute confidence, that AJS’s Auto Bank Feeds will not only make a big difference to how your business is run but it will also have a tremendously positive impact on the bookkeepers and accounting departments. Reducing the time and effort it takes for them to complete even the simplest tasks – they will be empowered! 

Smiling all the way to the virtual bank….

AJS is excited to reveal all our amazing updates (to an already incredible system). Be sure to tune in each week where we will be letting you in on some of our most exciting features. 

Stay tuned!

Written by Alicia Koch on behalf of AJS