Thomson Reuters adds bank feeds to accounting software

Thomson Reuters has added bank feeds to its Accounting CS accounting software.

The new feature lets accountants directly import clients’ checking, savings and credit card accounts into Accounting CS, providing access to transactional data.

Some of the benefits of integrated bank feeds are automated data entry, improved accuracy with direct data transfer, and a bank reconciliation process that automatically clears matched transactions.

Security features are built into the bank feed integration that prioritize data privacy and confidentiality, and require clients to check a box indicating they agree to sharing their bank feed.

“We anticipate Bank Feeds will be a highly impactful feature that will both significantly streamline how firms interact with their clients and free up time for accountants to pursue more strategic and higher-value services, thereby assuming a greater advisory role for their clients,” said Louie Calvin, senior product manager, accounting and payroll with the Thomson Reuters Tax & Accounting business, in a statement.

Accounting CS Bank Feeds is available to all users of Accounting CS and Accounting CS Payroll for an additional monthly fee of $5 per client, and is free for clients who currently use Accounting CS Client Access. For more information, click here.

Thomson Reuters, Stamford, CT
The offices of Thomson Reuters stand in Stamford, Connecticut, U.S., on Friday, Dec. 3, 2010. Thomson Reuters announced the acquisition of GeneGo Inc., provider of biology and disease information, analytics; terms not disclosed. Photographer: Chris Ware/Bloomberg

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