Bank feed or statement file import: how they differ

Yes, you can still reconcile without a feed. A downloaded statement file does the same job. You just fetch it yourself.

The difference in one table

CSV means comma-separated values, a plain text table that opens in a spreadsheet. Wikipedia notes that many financial institutions offer direct downloads of financial transaction information, typically using the .csv file format¹.

What you need for a file import

• Access to your online banking, so you can download the file.
• A date range that starts where the last import stopped.
• A format your software accepts. Check the maker's help.

Business Central's manual says you can import bank statement files in comma or semicolon delimited format, and you set up a statement file format for the bank account first². Wiise's help says that without an online bank feed you can manually import the bank statement in a CSV format³. Other products have their own rules.

Steps for a file import

• Download the file from your bank, covering the period you want.
• Open the reconciliation screen in your software.
• Choose the import action and pick the file.
• Check the lines arrived, then match them as usual.

Enter the ending balance from the statement too. In Business Central you type the balance of the statement from the bank into the Statement Ending Balance field². Follow your own product's manual for the exact names.

Where files and feeds differ in practice

A feed can bring new lines in as they appear. Wiise's help says that with a bank feed, lines can download into your reconciliation automatically³. With a file, nothing arrives until you fetch it.

Files can overlap. If you import a range that includes lines you already have, you may get the same payment twice. Pick start and end dates carefully, and check the first and last lines against the previous import.

Some software sets up feeds through a data provider. Business Central's manual says the feed needs a specific service to be set up². If your bank isn't covered, a file is the fallback.

The reconciling itself is the same either way. Once the lines are in, the session follows the month-end walk-through. If you're unsure what a feed is, start here.

Choosing between them

Neither route is better in every case. It depends on what your bank and software support, and how often you reconcile. If you reconcile once a month, a file download takes a few minutes. If you want to see lines as they come in, a feed fits better.

Whichever you use, keep the same habit: confirm the first line after the last import, and confirm the final balance against the statement.