Syncing Bank Transactions
Reading Time: 5-6 minutes
Overview
Learn how to syncing bank transactions in Akili Apps to streamline your expense tracking and maintain accurate financial records.
What You'll Learn
- How bank transaction syncing works
- Automatic vs manual syncing
- Reviewing and categorizing transactions
- Reconciliation best practices
- Troubleshooting sync issues
Bank Integration Overview
Akili Apps connects securely to your bank accounts via Plaid, enabling:
- Automatic transaction imports
- Real-time account balances
- Expense categorization
- Receipt matching
- Reconciliation tools
How It Works
Automatic Syncing
Once connected, the system:
- Daily Sync: Checks for new transactions daily
- Import: Downloads new transactions automatically
- Categorize: AI suggests categories based on merchant
- Match: Attempts to match with uploaded receipts
- Notify: Alerts you of new transactions
Manual Sync
Trigger manual sync anytime:
- Go to Bank Accounts
- Select account to sync
- Click Sync Now
- Wait for sync to complete (10-30 seconds)
- Review new transactions
Transaction Management
Reviewing Transactions
New transactions appear in:
- Transactions page (all transactions)
- Dashboard widget (recent activity)
- Expenses page (imported as expenses)
Transaction Details:
- Date and description
- Amount (debit or credit)
- Account name
- Category (suggested or assigned)
- Match status (matched receipt or not)
- Notes field
Categorizing Transactions
Automatic Categorization:
- AI suggests categories based on merchant
- Learning improves over time
- Common vendors recognized
Manual Categorization:
- Click on transaction
- Select category from dropdown
- Add notes if needed
- Save changes
Bulk Categorization:
- Select multiple transactions
- Click Categorize Selected
- Choose category
- Apply to all
Excluding Transactions
Not all transactions are business expenses:
Exclude Personal Transactions:
- Select personal transactions
- Click Exclude from Expenses
- Transactions hidden from expense reports
- Still visible in transactions list
Common Exclusions:
- Personal purchases on business account
- Transfers between own accounts
- ATM withdrawals
- Personal bills
Reconciliation
What is Reconciliation?
Matching your Akili records with bank statements to ensure accuracy.
Benefits:
- Catch errors or fraud
- Ensure complete records
- Accurate financial reports
- Peace of mind
Reconciliation Process
Monthly Reconciliation:
- Download Bank Statement: Get PDF from bank for the month
- Access Reconciliation: Go to Bank Accounts > Reconcile
- Select Period: Choose month to reconcile
- Enter Statement Balance: Input ending balance from statement
- Review Transactions: Check off transactions on statement
- Match Totals: Ensure Akili total matches statement
- Resolve Differences: Investigate any discrepancies
- Mark Complete: Save reconciliation
What to Check:
- All transactions imported
- Amounts match exactly
- Dates correct
- No duplicates
- Missing transactions added manually
Handling Discrepancies
Common Issues:
- Pending transactions not yet posted
- Duplicate imports
- Missing transactions
- Incorrect amounts
Solutions:
- Wait for pending to post
- Delete duplicates
- Manually add missing transactions
- Correct amounts and resync
Best Practices
Daily/Weekly
- Review New Transactions: Check daily imports
- Categorize Promptly: Assign categories while fresh
- Match Receipts: Link receipts to transactions
- Exclude Personal: Remove non-business transactions
Monthly
- Reconcile Accounts: Full reconciliation
- Review Categories: Ensure consistency
- Check for Errors: Look for anomalies
- Generate Reports: Monthly expense reports
Security
- Monitor Accounts: Watch for unauthorized transactions
- Update Credentials: If bank password changes
- Secure Login: Use strong Akili password
- Enable 2FA: Two-factor authentication
Troubleshooting
Transactions Not Syncing
Possible Causes:
- Bank connection expired
- Bank site maintenance
- Credentials changed
- Account closed or frozen
Solutions:
- Check connection status
- Reconnect account
- Verify bank account still active
- Contact support if persists
Duplicate Transactions
Cause: Sometimes transactions import twice
Solution:
- Identify duplicates
- Select duplicate entries
- Click Delete
- Keep only one copy
Wrong Category Assigned
Fix:
- Click on transaction
- Change category
- Save
- System learns from correction
Missing Transactions
Troubleshoot:
- Check date range filter
- Verify account connected
- Check if excluded
- Manually add if import failed
Security and Privacy
Secure Connection
- Bank-level encryption
- Plaid secure API
- No storage of bank passwords
- Read-only access to accounts
What Akili Can See
- Transaction history
- Account balances
- Account names
What Akili Cannot Do
- Transfer money
- Make payments
- Change account settings
- Access sensitive bank features
Common Questions
Q: How often do transactions sync?
Automatically once daily. You can manually sync anytime.
Q: How far back do transactions import?
Typically 90 days on initial connection. Ongoing sync captures all new transactions.
Q: Can I connect multiple bank accounts?
Yes, connect as many as needed. Each account syncs independently.
Q: What if my bank isn't supported?
You can manually import transactions via CSV or enter expenses manually.
Q: Do I need to reconnect periodically?
Sometimes yes, if bank requires re-authentication (every 90-180 days typical).
Q: Are pending transactions imported?
Usually not until they post. Some banks include pending, some don't.
Q: Can I disconnect a bank account?
Yes, in Settings > Bank Accounts > Disconnect. Past transactions remain.
Q: Is my bank information secure?
Yes, Plaid uses bank-level security. Akili never stores your bank login credentials.
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Need Help?
Email: support@akiliapps.com
Phone: 1-800-AKILI-APP
Akili Apps - Intelligent Expense Tracking for Canadian Businesses