FINSYNC streamlines bookkeeping and cash reconciliation by directly importing bank transactions. When you initially sync your bank accounts, FINSYNC will automatically pull in the past 90 days of transactional history for any/all bank accounts that you sync. However, moving forward, FINSYNC will indefinitely pull in transactions on a daily basis.
Note: This article assumes you have already synced your desired bank accounts and is simply an explanation on what FINSYNC does with the imported data.
What to expect once a bank transaction is imported:
FINSYNC automatically categorizes most transactions imported from your bank, but you retain the ability to change those selections using the steps below:
1. Click on Banking from the top menu.
2. Select the Settings button near the top right of the screen.
3. Scroll to the bottom of the page and you can choose whether you want to manually categorize your transactions or if you prefer that FINSYNC auto-categorize for you.
If you choose to continue to allow FINSYNC to automatically categorize your transactions, the system will continue to learn as transactions are imported based on how you have manually categorized them previously.
Example: You can manually categorize your first couple of electricity bills as "Utility Expense," you will see that the system starts to recommend that category (general ledger account) going forward.
If the system does not know how to categorize a transaction, you will see it listed as either Income - Uncategorized or Expense - Uncategorized (pictured below).
Note: You are always free to re-categorize transactions if you disagree with how the system categorized them.
Related Articles:
How To Import Bank Transactions
How To Split Bank Transactions
Adding Attributes to Bank Transactions
Removing Attributes from Bank Transactions