Often we are asked: How is Ledgersync Different then Quickbooks Online Bank Feed.
Below are a few pointers that explain the differences between Ledgersync and Quickbooks Online.
1) Quickbooks only pulls in last 90 days of transactions
2) Quickbooks does not pull in Check Images and Statements
3) CPA CAN’T classify in the GL “Check Transactions”
4) Quickbooks doesn’t offer a portal for client’s to enter their online bank credentials. CPA has to grant complete access
5) Ledgersync allows for a client to “edit” and manage obscure bank transactions
6) Quicbkooks (also Sage) Desktop does not have a data feed solution- we are it!
7) CPA’s require Bank Statements for reconciliation purposes and proof
This is example of a Check from Bank of America (bofa.com) and will be processed in the same way within Quickbooks Bank Feed.
How is an accountant supposed to code this type of a transaction without viewing the actual image of the check?