After lots of conversations and work UFS has now enabled automatic bank feeds for accounts within Xero.
Benkorp has been assisting UFS with the testing and trailing of the UFS bank feed with one of our clients.
We are now happy to report that John Carruthers from UFS notified us that Xero bank feeds are now active and available.
No more manually exporting and importing transactions for each bank account!
- Save hours,
- Get working on your Xero accounts straight away
- Keep your church accounts up to date so much easier
- This should also reduce importing duplicate transactions
Once set up, transactions from your Uniting Financial Services accounts will automatically be imported into Xero. Transactions will appear in Xero daily between 10pm to 5am (AEST).
How it works
You can create or connect the feed from within Uniting Financial Services if you have either:
- A Uniting Financial Services account you want to connect that’s not already in Xero
- An existing Uniting Financial Services bank account in Xero that you’ve been manually importing transactions into
Eligible account types
- Call accounts
- Loan accounts
- Term Deposit accounts
- Transactional accounts
UFS automated transaction feeds support the linking of all investment types i.e. Transaction facilities, investments and loans.
Set up your feed
To set up your UFS/Xero bank feeds an email must be sent to UFS
For more information about the bank feeds please click on this link Uniting Financial Services
How to request automated bank feeds in Xero
To request an automated transaction feed, send an email to [email protected]
In the email, include details of:
- the investment/loan(s) you want to automatically import,
- specify that you want to link your bank transaction data automatically import into your organisation’s Xero account, and
- include the name of your Xero file (see the wording – top left-hand corner of your Xero file)
Please note, that you must be an Authorised Signatory on the investment account to send this request email.
Activating the feed
After you request the automated transaction feed:
- you will receive an email from UFS containing a link to our banking application.
- Click on the link provided in the email. This will prompt you to log in to your Xero account.
- Once you have logged in, you will be prompted to exit the application.
- The transaction feed setup process will continue from there.
The activation of a new automated transaction feed typically occurs overnight, provided your request is submitted before 12 PM on the business day.
If an authorised signatory sends the email request with bank account details by 12pm, on a business day, you can expect the transaction feed to be active and
transactions appear in your bank account in Xero daily between 10pm-12am (AEST).
Daily transaction feeds from UFS are typically delivered around 5am each day.
This means that you no longer need to log into your UFS bank accounts to:
- See the bank balance as at the end of the previous day, and
- Start updating and reconciling your accounts straight away.
There is no limit to the number of investments you can link to UFS automated transaction feeds. You can link as many investments as needed to your Xero system for seamless transaction management.
Thank you UFS and John Carruthers and his team for getting this done!
Happy easy reconciling!!
Let us know if have any questions or need any help with your Xero account.
Contact the Benkorp team: [email protected]
Benkorp is a Xero Gold Partner. We have the knowledge and experience to help you.