To reconcile your bank, your accounting software needs your transactions. There are two common ways to get them there: an automatic bank feed, or a statement import from a file. Each has strengths. This is an honest look at both.
How bank feeds work
You authorise a connection between your bank and your software, and new transactions appear automatically, usually every day. The connection often needs to be re-authorised from time to time, and it only works with banks the provider supports.
Strengths
- Transactions arrive without any action from you.
- You always see recent activity.
Weaknesses
- Connections can break and need re-authorising.
- Not every bank or account type is supported.
- Your software provider, and possibly a third-party aggregator, handles access to your bank data.
- It is easy to stop looking, and to let mistakes pile up.
How statement imports work
You download a statement from your bank as a file, such as CSV, OFX, QFX or QIF, and import it into your software. Transactions are matched to your invoices and bills.
Strengths
- Works with almost any bank that lets you download a file.
- No live connection to your bank, and no third party holding access.
- You can import history, and re-import corrected statements.
- A regular import is a natural moment to review your books.
Weaknesses
- It is a manual step, so you must remember to do it.
- Importing overlapping dates can create duplicates unless the software checks.
- Formats vary between banks.
How to choose
- Hundreds of transactions a week and a supported bank: a feed saves time.
- Fewer transactions, or a bank that is not supported: imports are perfectly good.
- You want tighter control or minimal third-party access: imports.
- You want daily visibility of cash: a feed, or a weekly import.
What matters more than the method
Whichever you use, three things make the difference: bank rules that categorise repeat items, a regular reconciliation, and a lock date once a period is done. See bank reconciliation explained and common mistakes.
How AvrioBooks works
AvrioBooks uses statement imports (CSV, OFX, QFX and QIF) with suggested matches, bank rules and Auto-reconcile. It does not have automatic bank feeds yet. See bank reconciliation software and how to import a bank statement.
Frequently asked questions
What is the difference between a bank feed and a statement import?
A feed connects to your bank and brings in transactions automatically. An import takes a statement file you download, such as CSV, OFX, QFX or QIF.
Are bank feeds more accurate?
Not necessarily. Both bring in the same bank data. Accuracy depends on reconciling regularly and using bank rules.
Does AvrioBooks have bank feeds?
Not yet. It imports statements as CSV, OFX, QFX or QIF.
Can statement imports create duplicates?
They can if you import overlapping dates. Check the imported statements list and remove any duplicate.
Keep reading
What is double-entry bookkeeping? A plain-English guide
Every business transaction affects two accounts. Here is how double-entry works, with simple examples.
29 October 2026 · 7 min read
How to read a balance sheet: a small business guide
The balance sheet is a snapshot of the business on one day. Here is how to read it without an accounting degree.
28 October 2026 · 6 min read
How to invoice overseas clients: currency, tax and getting paid
Overseas clients add currency, fees and tax questions to a normal invoice. Here is how to handle them.
28 October 2026 · 7 min read