How to automate your bookkeeping by connecting a bank account

We know how busy you are, and to save you time we’ve partnered with a specialist provider of secure bank data connections to automatically pull in your transactions and help you quickly and efficiently handle your bookkeeping. With connections to over 10,000 financial institutions, odds are Wave supports automatic connections with your bank!

Creating a direct connection between your bank account and Wave removes the hassle of entering all of your information manually. This saves you time and can serve as a reminder to keep up with your books on a regular basis. 

Once you’ve connected your bank account to Wave, the connection will pull in your transactions every 1- 3 days from the time that they post to your bank statement.

Connecting your bank account will take care of getting your financial data into your Wave business, leaving you with the simple task of reviewing and categorizing your transactions as they come in. Think of categorization as you telling Wave how to bookkeep your transactions so that they can contribute to meaningful reports for your business.

We recommend logging in every few days to categorize the newly-imported transactions that have been brought in by your bank connection. By getting into the rhythm of categorizing your transactions, letting your bank connection do its thing, and repeating the cycle all over again, you can keep your books up-to-date and generate accurate reports with minimal (if any) manual entry required!

Together with frequent categorization, regularly performing reconciliation will help guarantee that the transactions in your Transactions page match up exactly with what appears on your bank statement.

If your bank isn’t supported by our banking data provider, you can still quickly upload multiple transactions at once by downloading them from your bank and uploading them directly to Wave. If you want to read more about what goes on behind the scenes with your bank connection, or if you’ve run into connection issues, check out our Understanding Bank Connections article for everything you need to know!

You’re all set! By connecting your bank account or directly uploading your transactions, you can spend less time manually entering data, and more time taking care of business.

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