Set up your bank feeds

Why set up bank feeds in Wiise? 

A bank feed is a list of transactions from your bank account that links directly into Wiise through a data feed.  By setting up automated bank feeds, you no longer need to manually download bank statements from your online banking and import them into Wiise.   

Wiise relies on SISS Data Services (SISS) a third-party data aggregator, to collect transaction data from many Australian financial institutions and make it available to Wiise.  

Bank feeds include all transactions, including payments, cash receipts, fees & interest. These transactions are automatically downloaded into Wiise each day. You can set up a Bank Account Reconciliation or Payment Reconciliation Journal for matching, posting and reconciling your bank accounts. 

Which bank accounts support bank feeds?

• As many as twelve Australian financial institutions currently support bank feeds.   
• If your account isn't eligible for direct feed, manually import your bank statements.  

If you’re unsure whether you can set up a bank feed from your bank, reach out to Wiise Support and we’ll check for you. You'll find more details about eligibility on ACSISS. 

How to set up bank feeds  

The process to register your bank feed should take between 5-10 business days. Here’s what you need to do to get started:  

1. Select Bank Accounts from your landing page menu or search for it using the search at the top right-hand corner. 
   
2. Select the bank account from the list page by selecting the hyperlinked row in the No. Column to edit the bank account. Alternatively, select the vertical three dots on the row of your bank account between the No. column and Name column.  
3. Then, select Edit in the drop-down menu. 
   
4. You’d need to create a bank account if the bank account is not available in your bank account list.  
5. Select the Bank Statement Service menu and from the drop down, select Register Account.  
   
   
   Note: If the Register Account menu item doesn’t appear then your Bank Branch No. (BSB) isn’t supported for bank feeds. Re-check your bank details to make sure your BSB and Bank Account No. are correct.  
   
   Note: If you have any issues at this point, please reach out to Wiise Support so we can check with SISS for you. 
6. Once you’ve selected the Register Account, a partially completed PDF form will be generated for you to download and save it to your PC. The form would have partially completed details from the creation of your bank account.  
7. The registration process varies by bank. For some, you’ll need to complete and sign the PDF form and return it to SISS, while with some banks you can complete an online process to activate your feed. 
8. SISS will contact your bank to set up the data feed and check the authority on the account.  
   
   Note: Please make sure to include the signatures of all signatories who are registered for the business bank accounts on the registration form. It's important to ensure that all necessary parties have authorised the registration process. 
9. When SISS registers your data feed successfully, your Bank Feed Status will show an Active status and transaction data should start showing on the Bank Feed Entries screen within 24 hours.
   
   
   1. Go to your Bank Account Card and select Bank Statement Service. 
      
      
   2. Select Bank Feed Entries. You’ll see a list of transactions imported from SISS for this bank account.  
      
      
   
   Note: During the bank feed registration process, you can check the Bank Feed status of your bank account to track the progress.
10. You’re done. If you see the Bank Feed Status of your bank account as Active, you’ll be able to see your active daily bank feed entries in Wiise within 24 hours.
    
    

What's next?  

Now you know how bank feeds work, you’re ready to reconcile your bank account via the bank account reconciliation or payment reconciliation journals. 

Need more help?  

No problem, that's what we're here for. Reach out to support@wiise.com anytime you can't find what you're looking for.