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nominal
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Hi,

Well done on the decision to go software :-) it will probably be a little harder to get going but should then pay for itself many times over (depending how much you pay, lol)

Bank feeds are great and unlike common belief they are not only available for online accounting solution – and can be done by desktop solution.

But to be honest the difference between bank feeds (where the software logs into the bank account and retreives the transactions) and bank file import (where you log into your bank account, download a file and import into the software) – is a matter of minutes per week/day.

The important stuff is what the software does with the records, is it easy to reconcile? can you create spend/receive records from it? can you generate purchases/invoices? payments? transfer records? does it remember the accounts you selected for similar transactions? etc.

This is what separates accounting software vendors when it comes to bank feeds. (and the fact that with online vendors you have to “share” access to your bank account – which some people really hate to do)

As for the personal expenses, I think an easy thing to do is to setup an owner fund account and then attribute the expenses to that account. then you can transfer between the business account and the owner account – but maybe there are other ways.

Good luck.