Save time by connecting your bank account to automatically import Expenses into FreshBooks.
Unless you’re an accountant, you likely didn’t start your business because you get a thrill from manually entering and categorizing Expenses. But at the end of the day (especially the days leading up to tax time), that’s often what you’re stuck doing. Tracking income and spending shows you how profitable your business is, but it doesn’t factor in the time you spend digging through receipts and remembering Expenses you didn’t have time to log or categorize.
To help, FreshBooks has added Automatic Expense Import. Now it’s easier to reconcile your Expenses, and head into tax time with confidence.
What Is Automatic Expense Import?
Automatic Expense Import is a feature that connects your bank account or credit card to FreshBooks in order to automatically import Expenses directly into your account.
How Does Automatic Expense Import Work?
Once you connect your bank account or credit card, FreshBooks is able to detect new Expenses and automatically import them into your account. And to help streamline your bookkeeping, FreshBooks automatically categorizes the Expenses for you!
And if you need to change the category? Expenses are easy to edit, so you can organize each one exactly how you want.
How Do I Set Up Automatic Expense Import?
FreshBooks connects with over 14,000 different banks and credit cards. To connect your bank or credit card to your account:
- Log into your account.
- On the Dashboard, click the gear icon in the top left corner.
- Go to the Bank Connections page and select your bank from the list or click Find Your Bank.
- Enter your online banking credentials.
- Select the account you want and click Import.
Here’s what it looks like in-app:
And that’s it! Once you’ve selected your bank account or credit card, your expenses will start flowing into your FreshBooks account automatically.
For more information on Automatic Expense Import, check this link out.
Is It Safe to Connect My Bank Account?
Absolutely. To keep your data safe and secure, Automatic Expense Import uses the same security encryption as your bank.
Need Help Getting Started?
If you have any questions about Automatic Expense Import, a team of Support Rockstars is ready to help you out. Contact them here.
This post was updated in March 2021.