Overview
Every month, in order to ensure accurate bookkeeping Heard requires therapists to upload bank statements to reconcile monthly books.
Bank statements at Heard
At Heard, we are focused on saving you time by reducing the tasks needed to keep accurate financial records. Depending on your financial institution, there are two options available:
- Automatic
- Auto-reconciliation
- Automatic uploads via Plaid statements
- Limited bank access
- Manual Upload
Automatic
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Auto-reconciliation: is a bookkeeping process utilized by Heard that ensures that the running balance and the sum of your transactions match your bank account balance. This process doesn't require any additional steps on your part and is integrated seamlessly when you connect your financial institution to Heard. The current financial institutions that support this feature are:
- Bank of America
- Fifth Third Bank
- Novo
- Relay
- TD Bank
- U.S. Bank
- Wells Fargo
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Automatic uploads via Plaid statements: Some financial institutions now offer the ability to enable automatic statement uploads directly to your Heard account. This process doesn't require any additional steps on your part and is integrated seamlessly when you connect your financial institution to Heard. The current financial institutions that support this feature:
- Huntington Bank
- Navy Federal Credit Union
- Regions Financial
- Truist
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Limited bank access to statements: is a service some financial institutions offer to provide read-only or view-only access to authorized users. This access is granted by creating a unique username and password separate from your own login credentials to view and download monthly statements. Each financial institution requires different steps to create the appropriate access. To enable limited bank access, please reach out via Messages. The current financial institutions that offer limited bank access are:
- BECU
- Bluevine
- Chase
- Citizens Bank
- Found
- M&T Bank
- Mercury
- PNC
- Relay Financial
- Wise
Manually uploading monthly bank statements
You may choose to upload your monthly bank statements on your own. If your financial institution does not offer Plaid statements or limited bank access, you will still need to provide monthly bank statements by uploading them directly to Heard.
To upload your bank statements, go to Your Practice>Documents>Bank Statements and click Upload.
Below is a video tutorial from Heard's Engagement team on how to upload monthly business bank statements.
Uploading bank statements on your own may be the only option available if you bank with a smaller financial institution or a credit union. If this is burdensome, we recommend opening a new business bank account with a supported financial institution to save time. You can choose to open a business account with one of the major banks Heard therapists use: Bank of America, Wells Fargo, Chase, U.S. Bank, Relay Financial, and PNC.
When do I need to upload statements manually?
We ask you to upload the required statements as soon as they become available from your bank or financial institution. Typically, monthly statements become available on the 1st or 2nd of the following month.
Occasionally, when there is a break in your bank connection to Heard, we may request you upload a bank statement for that month.
Why are monthly 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 your monthly books.