Below is a video overview of how Keeper's AI Bank feeds work:

AI Bank Feeds does two things:

It is not designed to replace bank feed coding. Instead, Keeper's AI reviews all transactions and puts them into buckets so you can quickly and easily review them.

Keeper puts each transaction into one of four buckets, depending on what we see: Matches, Rules, Auto Classifications, and Needs Review.

These are bank feed transactions that match existing transactions in the ledger, like journal entries or open invoices.

We break matches into three groups: possible matches, matches divisible by 100, and multiple possible matches.

This helps you more closely review transactions where matches might not be correct (e.g., it's more likely that there are multiple $1,000 transactions in a given date range than $2,345.67 transactions).

Rules in Keeper work similarly to rules in other bank feeds, with a few notable exceptions:

Any transaction whose vendor and/or category are set by a rule shows up in this section.

This section works like Keeper's Expense Inconsistency report, but in reverse.

If all of the transactions associated with a vendor in the bank feed are always categorized the same way, we will put that transaction in Auto Classifications.

We also express a confidence score here so you can know how closely to review.

High vs. medium confidence

If Keeper sees historical transactions with similar statement descriptors in that same bank account, and all such historical transactions are categorized the same way, Keeper will use the ledger's categorization history to suggest how that transaction should be categorized, and it will put that bank feed line in the high confidence bucket.

If we see similar historical transactions that are in other accounts, or that are in the same account but have statement descriptors that look different or out of place, we'll put it in the medium confidence bucket.

If there’s not enough ledger data to categorize a transaction, Keeper puts it in Needs Review.

Within needs review, there are two sub-groups: uncertain and new vendors.

Uncertain

If Keeper recognizes a transaction, but there is variance in the historical categorization (e.g. sometimes a vendor is classified to one account, sometimes it's classified to another), Keeper will put the transaction in Uncertain.

We'll also show how often that transaction is categorized to the different options, so you can choose between them or choose a different option entirely.

New Vendors

If Keeper can't find any similar historical transactions in the ledger, it will recommend a new vendor.

Here, our AI do exactly what you do – it will search the web, synthesize the results, and make a prediction.

Keeper does not connect to your client's QuickBooks or Xero bank feeds. Instead, you set up your own connections to the bank directly through Keeper.

You can connect an account in one of four ways:

When creating a client connection request, you should create one request for each institution you want your client to connect to.

For example, if you have a client with:

You should create two connection requests: one for Chase and one for Bank of America.

What does a client connection request look like for my client?

When you create a connection request, it will email your client a link to the portal.

When they log into the portal, they will see a new Action required task for them to complete:

When they click this action item, they are prompted to find and connect their account (this is the same authentication flow you use if you have access).

What happens if my client's bank connection breaks?

If a connection that your client set up breaks, we will automatically email them and add a new task in the portal for them to reconnect the bank.

This requires no action from you, so your client can fix any connectivity problems before you log in to work on the bank feeds!

Your Client List now has one new column: last posted transactions.

This column shows the date a user last posted transactions in Keeper. That way, it's easy to see if your team is keeping up on their work.

More columns, such as "number of transactions sitting in the bank feeds," are coming soon.

Coding in QuickBooks

Once you are comfortable categorizing transactions inside of Keeper, we recommend disconnecting the bank feeds inside QuickBooks. This will prevent duplicate work and issues that might arise from your clients working in the QuickBooks bank feeds.

Auto-add rules

When starting to use Keeper's bank feeds, we recommend disabling any auto-add rules you have set up in QuickBooks.

Due to timing issues (e.g. Keeper's bank feed receiving the transaction earlier than QuickBooks), these could cause problems with duplicate transactions.

Where can I find AI Bank Feeds?

From any client's close page, you'll see a new tab called Bank feeds. Clicking that will take you to Keeper's Bank Feeds feature, where you can connect an account and start coding.
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How does this work with QuickBooks's bank feeds? Do I need to code transactions in both places?

Keeper's bank feeds are completely separate from the bank feeds in QuickBooks. As a result, if you clear a transaction from the Keeper bank feeds, it will still show up as pending in QuickBooks, and vice versa.

However, because adding a transaction from either Keeper or QuickBooks will put that transaction in the ledger, any transactions posted from Keeper should show up as matches in QuickBooks, and vice versa.

Once you are comfortable categorizing transactions inside of Keeper, we recommend disconnecting the QuickBooks bank feed.

What do I do if a bank feed connection does not work?

If you experience issues when connecting a client's bank to Keeper, please contact support via our in-app chat or by email at help@keeper.app.

Will my clients be notified when I connect a bank?

Your clients may be notified when you connect a bank. Keeper does not send a notification about this, but different banks have different notification policies.

Do transactions categorized from Keeper show up as cleared in the account reconciliations in QuickBooks?

At this time, they do not. This is a limitation of QuickBooks's API. If you would like to see, please contact your representative at Intuit and let them know you would like to see this added.

What do the purple diamond and orange star icons mean?

The purple diamond icon shows up when Keeper's AI has a single suggestion for how a transaction should be classified. You can hover over the star to see why we make that recommendation.

The orange star indicates the AI has suggestions that the user needs to choose between.

AI Bank Feeds is currently in a public beta. To join the beta, please fill out this form. It is only available for firms on Keeper Premium.

At this time, we only support US QuickBooks Online files. Support for Xero files and files in other regions is coming soon.