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Introducing: Automatic Expense Import connects your bank to FreshBooks

by Casey McKinnon | January 9/2013 | auto-imports, automatic-expense-import, expenses

UPDATE July 3/13: Over 60 Canadian financial institutions are now supported, with Scotiabank, BMO and Royal Bank just added.

Starting today you can enable an automatic, ongoing download of your expenses directly into your FreshBooks account with Automatic Expense Import.

Once you have connected your bank accounts, any new expenses will be uploaded daily; sparing you from tedious manual entry. As a small business owner, you know that inputting expenses can take an inordinate amount of time away from a busy schedule. We wanted to make this latest addition to the cloud accounting suite of time-saving capabilities a solution that would free up more of your time from paperwork plus enable you to assess your true spend more easily.

Who can use it? 

Going forward, Automatic Expense Import is included with all FreshBooks paid packages, and for a limited time it is also available to existing, free FreshBooks accounts as well. It has already been in use with over 3,000 customers since last October and is now available in North America with support for more than 9,000 US financial institutions and 61 Canadian financial institutions (note: your country must be selected in “Settings.”) If you’re outside of the US or Canada, please tell us what banks you’d like to see supported in your area.

Quick one time setup for auto download

Under the existing Expenses tab, you’ll see a new sub-tab called “Bank Accounts.” Follow the simple one-time setup by clicking the button “+Add Account.”

A pop-up will appear to enter your bank’s name and then from the list, select your bank or credit card account to securely connect it to FreshBooks. Once connected, your expenses will be imported on an ongoing basis until disconnected. **Accommodates multiple accounts** You can connect any or all of your business bank accounts and credit cards to FreshBooks to get your expenses imported. This includes any checking account, credit card or PayPal account you are using to cover the costs involved in running your small business. **Editing made effortless with deletion tool** When your bank accounts and credit cards are connected to your FreshBooks account, Automatic Expense Import fetches the last 30-90 days worth of expenses data (depending on the bank you use). It won’t import the same expense twice but it might import an expense that you have manually entered in the past. If an existing expense is imported, FreshBooks will flag the expense and give you the option to delete the duplicate. We hope you enjoy Automatic Expense Import. As always if you have any questions about setting this up or anything else about your account, we’d love to help! Drop us a a line at 1-866-303-6061, email us or have a look through the Frequently Asked Questions.

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