At Heard, we are focused on saving you time by reducing the number of tasks needed to maintain accurate financial records. We're excited to offer auto-reconciliation, so you no longer need to upload monthly statements for supported connected accounts! Instead, we now automatically reconcile your books using your secure bank connections with Plaid, where possible.
What is Auto-reconciliation?
Auto-reconciliation is a bookkeeping process used by Heard to ensure 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.
How are bank statements used?
To reconcile your monthly books, your bookkeeper uses the monthly bank statement to ensure the month-start and month-end balances match those in your books. By syncing your bank transactions to your Heard account, we ensure that all transactions are accurately captured. This enables your bookkeeper to confirm and reconcile your monthly books, calculate quarterly tax estimates, and provide financial insights and recommendations.
When do I need to upload statements manually?
- During catch-up bookkeeping, if you see an "Action Required: Fill in transaction gaps" banner on your dashboard, your bookkeeper has flagged specific months with missing statements. The task will list exactly which accounts and months you need to upload for. Once you've uploaded them, the item is resolved automatically, and your bookkeeper can continue.
- Occasionally, we may request you to upload a bank statement for that month if there is a break in your bank connection to Heard. Some financial institutions, such as small credit unions, may not allow for such integrations, and you may be required to upload monthly bank statements.
How to upload a bank statement
To upload your bank statements, go to Your Practice>Documents>Bank Statements and click Upload.
Below is a video tutorial from Heard's Activation team on how to upload monthly business bank statements.
Uploading bank statements manually to Heard may be the only option if you bank with a smaller financial institution or a credit union.
If you don't have a business bank account yet, or you're ready to open a new one, Heard Business Banking, powered by i3 Bank, is the simplest way to set it up. It's built for therapists, included in every Heard plan at no extra cost, and your transactions sync to your Heard books automatically. No monthly fees, no minimums, and your Heard Visa Debit Card is included.