Why are my transaction descriptions different when using automated bank feeds?
When switching to open banking and automated transaction feeds, the bank descriptions may be slightly different compared to the transactions you uploaded from the bank statement.
This could be because your bank generates the description field for the automated banking feeds differently than for bank statements.
Therefore, it is not something you or ExpensePlus can control.
Remembered transactions
If there are differences in the description field when you start using open banking, your remembered won't work as before.
You will need to re-remember these transactions. Follow these instructions: How to Quick Match Income
Once you have done this, transactions from your automated bank feeds will quick-match as before.
Credit and pre-paid card descriptions
When uploading transactions for credit card and pre-paid card accounts, ExpensePlus imports the 'supplier name' and the ' cardholder' from the statement.
This combines to form the transaction description. This makes bank reconciliation much easier, as you can easily identify the cardholder for each transaction.
Learn more here: How do Business Card Purchases work?
Automated bank feeds and card descriptions
Some credit and pre-paid card providers don't include the cardholder name or card number within the automated transaction feed.
This makes it much harder to reconcile transactions imported via the automated feed.
Top tip: If your cardholder does this, you can disconnect open banking for that account, and instead upload transactions for that account.
To better understand the Bank Reconciliation module, please view the module overview video here.