Did You Know The Xero Bank Feeds Are Changing?
Get ready ...
POSTED BY ALISON MEAD ON 22/07/2019 @ 8:00AM
In a few weeks time, all current Xero bank feeds will no longer be available due to industry-wide changes and the implementation of the open banking scheme ...
Xero bank feeds are changing and your accounting software will tell you when it's time to change to open banking!
copyright: xero accounting software
Open Banking means you can choose to share your bank account information securely and electronically with companies like Xero. It was designed to encourage competition in the banking industry, giving you more choice, as well as greater control of your data and how it's used.
"Any bank feed coming from Barclays using Yodlee
will cease to function soon!"
The good news is that Xero have implemented open banks into their accounting platform which means new feeds from Barclays will be available to download transactions and they'll be rolling out to other UK banks at the beginning of August.
Some banks won't be making new feeds available immediately so it will be vital to know how to import this data manually or wait until the feed becomes available from their bank. You can find out which banks and accounts are affected by clicking here.
Xero should let you know when the switch is going to happen for your bank and I'm very happy to offer my services to make the changeover for you when the time comes. Maybe we can combine that with some training to answer those niggling little bookkeeping questions you've been having?
"Would you like to know more?"
If you'd like to find out more about Xero bank feeds changes then do give me a call on 01604 420057 or click here to ping me an email and let's see how I can help you.
Until next time ...
More about Alison Mead ...
Alison loves bookkeeping. She has been helping clients to be better bookkeepers in Sage 50 for over 22 years and has more recently added Xero Accreditation to her list of skills.
She specialises in a very unique hand-holding method of training, helping bookkeepers and business owners to use their accounts software as and when they need support in setting up and producing their invoices, reports and financial information.
Alison combines her role at Silicon Bullet with running two network marketing businesses and is also a Regional Leader for 4Networking as she likes to keep busy.
You know what they say, if you want something done well ask a busy person!
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