Institute of Certified Bookkeepers

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Access Denied: Bank Feeds - ICB

Bank feeds are an automated electronic transmission of bank statement data into accounting software such as MYOB, Xero, Intuit, and Saasu and this has fundamentally changed bank reconciliation for bookkeepers. There are debates showing different scenarios in use of bank feeds and it is recommended that a Bank Feed Client Authority be drawn up between BAS Agent and Client prior to setting up. ICB also provide a letter templates to inform the client and the accountant covering setup, cost and process required.

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