We are so excited about this release because it represents the culmination of 6 months of work, thousands of man-hours and thousands of dollars (over budget). But it was important to us and our mission of making accounting easy, that having reliable bank feeds should be available for everyone.
Drum roll please…..
New Bank Connections, (More banks and better reliability)
After months of work and working way over budget, we’ve finally done it. We’ve upgraded our bank aggregator to Yodlee, the same provider that Quickbooks and Xero use. So if your bank wasn’t supported before, chances are it will be supported now. Or if your feed was going down, it will be more reliable now. The new feed will solve the 2-factor authentication issues that some banks had.
How to migrate to the new bank feeds
On Monday, August 13th, all connections to our old provider will be cut. So if your bank was previously connected, you’ll need to reconnect. Please follow these instructions to make sure you don’t get duplicate transactions.
1.Open your bank account in Billy and write down the date of your most recent transaction either in the Balance or on the Match page
2. In Bank balance, click on More > Edit account
3. In the Account edit box, click on Link my bank account
4. Go find your bank and enter your username and password for the bank
5. When it asks for the Start date use the date of the day after your last transaction in that account, which you noted down in step 1
What banks are supported
If you haven’t been able to link your bank to Billy yet, check to see if our updated platform will support your bank.
New reconciliation balances
Reconciliation actually means, making sure the balance on your account from your bank matches that in your accounting. If not, then it could indicate some mistake made when matching transactions, either by way of duplication, omission or miscategorization. Previously, you had to actually log into your bank account and check it’s balanced with the record for that account in Billy.
Now, with our update, you can see if your account balances right inside of Billy!
Finally, you can ping your bank in real-time and get an up-to-the minute import from your bank with the refresh button. Note, you can only refresh your feed once every 15 minutes:
Accurate import date stamps
Now, you can see the exact date and time of the last import to double check if deposits are available or if expenses have been captured by Billy yet.
In-line Calculators for all Amount fields
If you ever wanted to add or multiply a total amount when putting together an invoice or entering an expense, you can throw away your TI-83 and use Billy’s built-in in-line calculator.
Just click on the calculator icon next to the field and enter the numbers you want to crunch. When you hit “Enter” the field will update with your new total.
- Japanese Yen payments on Stripe are fixed to the correct decimal place
- Affiliate tracking is updated to be more accurate