How do I set up a Bank Connection with Yodlee?
Yodlee, our third party connector, can help you get your expenses automatically imported from your bank accounts, credit cards, and PayPal accounts. All accounts you set up will appear in the Bank Connections section, and any newly imported expenses will appear in the Expenses section for you.
Add a Bank
Note: These steps must be completed on a web browser.
- Click on the gear icon in the top left corner
- Click on Bank Connections
- If you see your bank in the top 12 popular banks, click on it
- Otherwise, if you don’t see your bank, click on the Find your bank link below the top 12
- Then search for your bank using the name of the bank (at least 3 letters long), or the bank’s website link
- If the name of the bank and the bank’s website link matches what you normally log into online, click on it
- If your bank is not listed or available, please submit a request to have your bank added here
- Once you’ve selected your bank, enter in your bank’s login credentials and press Submit
- Answer any security/verification questions until all have been answered correctly and press Next
- Stay on this page and wait for all your accounts to finish loading (all spinning icons disappear)
- Once all accounts have finished loading, you can remove any unwanted accounts as well as rename any accounts (to help remember which account is which) using the Remove or rename account links
- When you’re done, click on Import
- A pop-up will ask you to how far back to import Expenses from - choose between Today, 7 Days ago, 30 Days ago, 90 Days ago, or custom
- Click Done
- You’ll now be taken back to the Bank Connections page, leave this page open for at least 10 minutes (you can use your account in another browser tab)
- After 10+ minutes, you’ll see a confirmation pop-up, and the status next to your bank account will display as Updated <1 minute ago
- From here, you can go to the Expenses section and start organizing your newly imported Expenses.
To look for Expenses that have not been assigned a Category, you can click on the filter icon next to the search box, check off both Imported expenses and Uncategorized expenses boxes, and click on Apply.
We recommend checking your Bank Connections on a regular basis to ensure your Expenses are consistently importing with no errors or actions required by you.
Automatically Categorize Imported Expenses
To save you time, you can have Categories remembered for future Expenses that are imported in. To utilize this feature, simply edit one of your imported Expenses, and check off the box next to Apply to future imported expenses:
Once you enable this, FreshBooks will recognize imported Expenses from the same Vendor and will categorize them with the remembered Category moving forward. The Vendor field must be filled out in order for the auto-categorization to work.