I have been using the downloading bank transactions feature for several clients.  It works well if you need to enter a lot of debit card or credit card transactions.  It makes the data entry much faster – saves some typing.

You still need to reconcile your bank though.  Don’t make the mistake of thinking that downloading and reconciling are the same thing.  I like to download and record the transactions first, then reconcile to the month end balance from the bank statement.  Occasionally there will be a transaction that doesn’t download for some reason.

By reconciling, I know that everything has been accounted for.

If you would like some help with this feature, email me at abc@koroll.ca

Diana