Data Feeds

10. Data Feeds – Introduction

Data Feeds automate data entry in Mclowd by facilitating direct import of data from online bank statements. This saves you the tedium of manual entry and avoids risks of creating reconciliation challenges by missing entries or potential typing mistakes when entering amounts.

Data can be imported by either of two methods:

  • Importing a CSV file exported from your bank, or
  • via a live SISS data feed (optional ― a small subscription fee applies).

Go to https://app.mclowd.com/data-feeds-sds for more information about live data feeds, or to subscribe to the service. (If not already logged in, Mclowd will present the login screen before displaying the information.)

You can access the Bank Data Feed page in Mclowd either via the BANK tab,

Bank tab menu

Or via the Bank Data Feeds menu option on the Settings Menu.

Settings Menu_Bank Data Feed

Mclowd will display the Bank Data Feed menu:

Bank data button menu

Click SDS Data Feeds to:

·        purchase a subscription

·        manage an existing subscription

Manage data feed subscriptions

·        see a list of supported banks. (If your bank is not listed, please email info@mclowd.com.)

SDS Supported Banks

 

 


NOTES: You can use the manual import function with any bank that provides a usable export file.

The menu also provides an option to view and allocate items previously assigned to any of the three Suspense accounts provided in the Chart of Accounts (refer to Sections 10.2.8 and 10.4)

The Macquarie Data Feed option is currently under development.


 


about the author:

Lorraine Cobcroft

With a background in accounting and financial management, followed by two decades writing software documentation, Lorraine joined the Mclowd team in mid-2016 and is enjoying working with a dynamic team to enhance an innovative product that has the potential to revolutionize the way Australians manage their retirement funding.
Lorraine is also an accomplished business writer, ghost-writer, novelist and short-story writer and poet.