As many businesses continue to adapt to the more remote and online ways of working, cloud accounting continues to provide an efficient solution to managing business accounts.
Working with Xero, one of the main cloud accountancy platforms, increases efficiency, streamlines business management and can be accessed from anywhere from any internet-connected device. Xero regularly updates its platform to ensure it is providing the most efficient service for its users; the most recent update being bank feed availability.
Due to new EU requirements enforced from 14 March 2020, the connection between banks and Xero may have changed. While many of Xero’s bank feeds have been replaced by new direct feeds, some feeds have not changed at all and others will be made available at a later date.
Xero has announced that the American Express bank feed is now ready for users to connect to, via Open Banking. The new feeds are secure, easy to set up and free of charge. Xero will automatically import transactions for the last 90 days or from the date of the last manual import. For enhanced security, EU standards require these direct feeds to be renewed every 90 days.
Please click here to see a full list of available direct bank feeds via Xero, or for further information, contact Rhiannon Hooper at rhiannon.hooper@hazlewoods.co.uk or 01242 680000.