This is a legacy program no longer available to new members. Instead, we've made significant improvements. We can now automatically reconcile your books using your secure bank connections, eliminating the need to upload monthly statements. There is no further action required on your part.
Overview
Heard requires health and wellness practitioners to upload bank statements to reconcile their monthly bookkeeping. However, you can eliminate this monthly task by setting up limited access to your bank account, sometimes referred to as read-only or view-only access.
What is limited bank access?
Limited Bank Access (LBA) is a service offered by some financial institutions to provide read-only or view-only access to additional users. This access is granted by providing Heard with a unique username and password separate from your own login credentials.
By providing Heard with limited bank access, Heard can download your monthly bank statements. You will no longer need to upload them to complete your monthly bookkeeping.
Why are bank statements required?
In order to reconcile your monthly books, your bookkeeper uses the monthly bank statement to ensure that month-start and month-end balances match what we have in your books. With the Plaid platform syncing your bank transactions to your Heard account, we want to ensure that all transactions are captured in this process. This enables your bookkeeper to confirm and reconcile.
Does Plaid provide statement access?
Yes, we still ask that you connect your business accounts via Plaid to automatically sync transactions, even if your bank does not support Plaid statements. Authorizing the accounts via Plaid, which syncs transactions to Heard automatically, is slightly different from providing limited bank access to your accounts so that we can access your statements.
Is limited bank access required?
No, limited bank access is optional and, therefore, not required. You can complete this setup only if your bank provides it as an option and if you are comfortable with it. Otherwise, you can continue uploading bank statements monthly.