3 Best Ledgersync Practices To Access Client Data

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 Implementing Ledgersync into your workflow as a bookkeeper and/or accountant can save you time and money, but there are tips for you to maximize these time saving functions.

 1) Accountant Read-Only Access Set Up - Greatest Success Model

 The majority of banks are now allowing their clients to create “read only” access logins so that financial managers can have access to the data, without being able to “touch the money”.

In Ledgersync you can connect the clients bank feed with a Read-Only set of credentials and pull all the information in one shot!

 

Why?

  1. You do not need to bother your client
  2. There are fewer triggers for “Security Measure Authentication”
  3. Security Measures are set up BY the accountant, so all answers and/or security tokens are sent to the Accountant not the client
  4. Have total access to the data you need without needing to login to multiple sites
  5. You have the ability to create Quickbooks compatible files, whereas many read-only access may not necessarily allow direct feed set up in Quickbooks. 

Summary:

We have found that encouraging your clients to set up read-only access credentials for their accounts is the most successful model in keeping bank feeds consistently connected.

 2) Ledgersync Client Portal

Ledgersync is designed to give your client access to their own client portal so that they are not required ever to share their credentials with their accountant.  

Why?

  1. With the client portal, there is no need for the client to share credentials while still being able to give you read-only access to their data
  2. Onboard Assistance: during the 15 minute initial set up meeting Ledgersync agents will be able to answer any questions your clients have with regards to security and functionality. We also train the client on how to maintain their bank feeds and specifically stress that keeping their feeds updated every month is EASY and FAST. (About the same time as downloading and emailing a monthly statement to you.)

Summary:

By introducing your client to Ledgersync your client feels secure in maintaining who accesses their account, while still giving you the data at your fingertips without needing to “wait” on your client for their paper statements and check stubs.

 

 3) Direct Access

The final method for setting up clients are for those clients who offer you direct access to their credentials.

You will still require your client in order to navigate Multi-Factor Authentication security measures when they are triggered by the bank. (Security questions or Security Tokens)

 The best practice for this method is to have your client add your telephone number to the list of numbers authorized to retrieve a security token. (In many cases you can do this yourself by logging in as the client online and adding your telephone number or email to their contact page without disturbing the numbers already entered by the client.)

 Why?

With direct access you can set up your client’s feeds without needing them to login to their own Ledgersync portal.

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