QBO Bank Feed Video Game - 'Just Kidding'

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Yes, I am just kidding when I called this article QBO Bank Feed Video Game. In fact Murph edited the rough draft of my title to insert the 'just kidding' so everyone would know without opening the story.  But really, I think QBO Bank Feeds are just about as much fun as a video game, and perhaps even more addictive. 

I wonder if Intuit really intended for Bank Feeds to make importing your income and expenses to know your real bank balance so easy that it has become super fun? So I really wanted to know if you are among the group, like me, who thinks Bank Feeds are just as much fun as your favorite video game? 

Well, if you thought there were already fun, just wait, because the fun has just begun. Bank Feeds are now better than ever. And you ask, "what makes them better?" The answer is simple, 'Bank Feed Categories' that make importing your bank information easier by sorting expenses into groups.

I know, you can hardly wait you are so excited about this new functionality. So, let's take a look.

Bank Feed Categories

Last week, I connected a new QBO client’s bank account to QBO and as expected there were hundreds of bank feeds to accept. But, I was thrilled to see QBO had without any help from me sorted the hundreds of bank feeds by categories.

Here’s some examples of the categories QBO grouped my expenses by:

  1. Matches
  2. Suggested Matches
  3. Auto Fuel
  4. Repairs and Maintenance
  5. Income

What are Matches and Suggested Matches?

Well, they are just like they sound! QBO now looks for all possible existing transactions and finds “matches” to downloaded bank feed. Next, QBO looks for suggested matches which means QBO looks for what might be a match and places those transaction into a separate group.

If QBO can see patterns in the data using its built in 'artificial intelligence' then it will categorize the transactions into another group. And so on, and so forth. All of this is intended to make it easier for you to finalize the moves that QBO makes. 

I guess you could compare it to having QBO as your chess 'partner' (not opponent), QBO makes all the moves right to the point of putting you in the position of  making the final move of 'checkmate', you just won. 

To take this one step further, let's look a little deeper into these 'categories'

Bank Feeds by Category

Below you will see the category groups from my recent experience. First, notice that we no longer have all connected bank accounts visible on screen, instead we have a new drop-down menu from which to choose the account we want to view. This provides more room for viewing the bank feed categories.

Categories is not all that has changed, accepting bank feeds has gotten easier too.

Accepting Bank Feeds

By using the QBO suggested category I was able to view all Auto Repair and Maintenance expenses by group. I was even add them faster using the all new Add Selected button.

"I'm so excited, and I just can't hide it...I'm about to lose control and I think I like it..."1 These new Bank Feeds are totally fun because they save so much time. 

What use to take hours and hours of data entry has become entertaining because Intuit keeps coming up with new and better ways to make the boring and dull 'book work' as entertaining as an action packed video game.

So, if you are like my partner, Ann Lee, and love to accept Bank Feeds on a daily basis, then these new enhancements are about to 'make your day.'

Footnote and credits:

1 - I'm So Excited is a song performed by The Pointer Sisters, written and composed jointly by The Pointer Sisters and Trevor Lawrence. Released in 1982 on the Planet/RCA Records label, it was produced by Richard Perry.