Bank feeds are a direct feed of data from an LLL facility to accounting software.
It's a secure electronic transfer of facility transactional data.
Once set up, the data is transferred into your Xero or MYOB accounting system without any action on your part. LLL will automatically send daily files securely to Xero or MYOB for uploading ready for you to reconcile the transactions and balances.
You can cancel Bank feeds at any time.
Bank feeds are a lot easier than manually entering data and LLL charges no fees for this service.
If your accounting system is not Xero or MYOB, you can still download your facility transactions from within LLL Online and upload them into your accounting software.
Xero
If you haven’t set up your LLL facility within Xero then you can do so by following the Xero instructions. Please note that you will require a nine-digit LLL facility number. You can find your external facility number by contacting our office or by logging into LLL Online or the LLL app.
While setting up, you will be prompted to complete the Authority form and forward it to Xero ensuring that the nine-digit facility number matches what you have loaded against your Xero login/organisation.
MYOB
If you haven’t set up your LLL facility within MYOB then you can do so as an online owner by starting AccountRight, going to the Banking command centre and clicking on 'Bank feeds'. More details can be found on the MYOB website. Please note that you will require a nine-digit LLL facility number. You can find your external facility number by contacting our office or by logging into LLL Online or the LLL app.
While setting up, you will be prompted to complete the Authority form and forward it to MYOB ensuring that the nine-digit facility number matches what you have loaded against your MYOB login/organisation.