What are Bank Feeds?
Your bank and credit card transaction data can be downloaded into Saasu securely and automatically. You then easily create transactions from this data and/or you can reconcile these transactions against existing transactions in Saasu.
Supported Banks
To see if you bank is supported go to the Saasu Dashboard and in the Quick Start panel start typing your banks name in the Connect to Bank field. Click the Quick Start button in the page title bar if the Quick Start panel isn’t displaying.
Connecting a Bank Feed
- If you have not already set up your bank accounts in Saasu, you can add a new bank account by clicking the Add bank account link in the Bank Account dropdown menu.
- To connect a Bank Feed go to View > Bank Accounts.
- Select the Account you want to connect a feed for.
NOTE: ensure the name of the account in Saasu matches exactly the name used by the bank for this account.
- Click on enable automatic bank feed link.
- Using the drop down link select your bank and if neccessary the specific type of account.
- Enter your internet banking log-in details.
- Click Login.
- Wait 1 to 5 minutes and a list of the bank accounts available for this login will display.
- If you have more than 1 account linked to your internet banking log-in you will be asked to select the account.
Note: Transactions will display after 1 to 5 minutes. Saasu downloads transactions back to your last reconciled date to avoid duplicate transactions. You need to repeat this process for each account you wish to add a bank feed for.
View Bank Feed Transactions
Bank Feed transactions can be viewed and searched in two ways in two view methods depending on how you like to work:
Bank feeds – Full View
This view provides you with an Inbox to see all unreconciled bank feed items. Once reconciled they are sent to the Reconciled list. You can also view All reconciled and unreconciled transactions together.
- Any new feed items will be loaded to your inbox and appear on the right hand side of the screen of the Full View.
- Only transactions since your last reconciled date are downloaded.
- Once an item has been allocated to a transaction and/or account it is marked as reconciled and removed from this screen.
- To see previously reconciled feed transactions click on the reconciled link on the left hand side of the screen.
- Saasu will attempt to match feed entries with existing sales or purchase transactions. You can accept the suggested match or allocate to the correct transaction. You will see this prompt in the message area at the top of the Automate > Bank Feeds screen when you have that Bank Account selected (or any related account that uses that password). You can’t update your password by following the link in the prompt.
- You may also do this via the View > Bank Accounts area after opening the Bank Account in view/edit mode.
Bank Feeds – Fast Coding View
The Fast Coding view was designed to allow you to see a simple list of your bank transactions and tell Saasu how you would like them categorised. To open the Fast Coding View click on the More dropdown link at the right hand side of the blue bar.
To categorise (code) your transactions simply:
- Type the account code in the field provided.
- Select a tax code (If you have a tax code assigned to the account you don’t need to do this).
- Type the return key to accept this and start working on the next one.
Note: This screen also lets you save a Bank Rule so that Saasu can do this for you automatically next time. Click the COG icon to the right of the bank feed item to create a rule.
To Create Rules
- Select Automate > Bank Feeds
- Select the bank account
- On the right of the blue bar click More > Fast Coding View
- Select the transaction you want to create a bank feed rule by selecting the cog icon located at the right side of the line
- Enter the details for the rule in “Create Bank Rule” screen
- Click Create Rule and Categorise
To Apply Rules to New Data
- Follow steps 1-3 as above
- On the right of the blue bar click More > Apply Rules
- A dialogue box will appear to confirm that you are about to apply all bank rules that you have created to your bank feed items
- Click Proceed
To Edit or Delete Existing Rules
- Select Automate > Bank Feeds
- Select the the bank account
- One the right of the blue bar click More > Bank Feed Rules
- Modify the existing Rules as required
Update Frequency
The frequency of update depends on each bank or financial institution. It also depends on how quickly banks change transactions from Pending to finalised. This can be hours or sometimes days. Saasu attempts to pickup your data a coupe of times each day. The time this occurs moves around based on available resources.
When Bank Feeds are offline
If you Bank Feed is offline you can manually import bank data. Click on the Import link in the bank feeds screen to import bank data.
Remove/Disable a Bank Feed
Go to View > Bank Accounts and open the Bank Account the bank feed is connected to. In the Connected to section click the disable feed link.
Bank Feed Security
Saasu has an internal development model nicknamed RISC. Redundancy, Integrity, Security and Capacity are the cornerstones of our development approach. Our investors come from investment and transactional banking backgrounds so we know that to achieve bank level security we have to partner with only the most trusted companies who’s sole purpose is to provide bank data to the financial sector.
We have third party security consultants who review our application. They have security programmes written specifically to test weaknesses in web applications like our own. They have experience dealing with other software companies in the accounting space, not just our own, they are also very familiar with data feeds, bank data formats, the security required for e-commerce, credit card processing and PCI compliance measures. Internally we have many of these skills but security is all about layers of knowledge to ensure quality assurance levels are strong at all levels of the application. At the end of the day Saasu’s investors and customers need to be comfortable that the risk is very low as our business depends on it more than any other factor.
Our data provider, Yodlee, employs leading-edge technologies, ISO standards, and business practices to protect your data. They have multiple patents granted or filed on various aspects of their technology including security infrastructure and data acquisition framework.
Key components of Saasu Online Accounting
- Data and Password Encryption
- Network Intrusion Detection Systems
- Physical Security Measures
- Security access Audits and Inspections
Digital Certificates
Saasu and Yodlee both use Thawte certificates for our services. Click on the lock icon in your browser reveals more information about your security.
Data and Password Encryption
Password and account data are stored and transmitted in encrypted format at all times. All data is securely housed in an Internet server hosting space that provides enhanced physical security, fire protection and electronic shielding.
Network Intrusion Detection Systems
Network-based IDS (intrusion detection system) provides 24×7 network monitoring and alerts security personnel to any external attacks on the network.
Physical Security Measures
Saasu online accounting retains a highly secure server stack in Hong Kong and the United States where security personnel monitor our systems 7 days a week, 24 hours a day. Access to servers requires multiple levels of authentication.
Security Audits and Inspections
The security infrastructure is regularly audited and inspected by our own system administrators and a third party company who’s speciality is security and data integrations.
How do you protect my account passwords and user IDs?
Your personal information is entered through Secure Socket Layer (SSL), which creates an encrypted connection between your browser and our servers. This information is kept encrypted at all times.
Who has access to my Bank Account information?
You and only you know your password. No one can access your account unless you provide him or her with access via the Manage Subscription Screen. Even you can’t access you password as we don’t store this information in the Saasu Online Accounting application. No Saasu employees have access to your password.
How is my account information protected during transmission?
The transmission of data is protected using industry recognized encryption standards, such as 128-bit. Users’ passwords are transmitted and stored in encrypted format at all times.
Where is my account information stored?
Your information is stored on servers, which are securely housed in an Internet server hosting space that provides enhanced physical security, fire protection and electronic shielding. Security personnel monitor the system 24 hours a day, 7 days a week. Access to servers requires multiple levels of authentication.
How is my account information protected from “Hackers” or outside intrusion?
Network-based intrusion detection systems (IDS) provide 24×7 network monitoring and alerts us to any external attempts to access the network. In addition, multiple layers of firewalls are used to guard against unauthorized access to the network.
What happens to my account information if I unsubscribe from the service or just stop using it?
Once your request has been received, your information will be securely and permanently deleted from our database OR your account will be automatically deleted from the database after six months of dormancy.
How frequently do you evaluate your security systems?
The security infrastructure is reviewed at each major release or on a semi-annual basis.
Is my data secure during a “service outage” or “scheduled maintenance”?
In the unlikely event that the service is temporarily unavailable, your account information remains secure in our Internet server hosting space, which is protected by stringent Network-based and physical security measures. Your data is replicated between Hong Kong and the USA and transferred to Australia on a regular basis.
Is my personal identity protected?
Saasu doesn’t sell or share your data with anyone except where we are required to do so to offer you the services you need and to facilitate the provisioning, sales and marketing of our product to some 3rd party suppliers. We ensure these suppliers have appropriate policies and terms in place that they cannot sell you data. Our Privacy Policy in our Terms of Service describes, in detail, how we will protect your personal privacy and keep your personal information secure.
