As part of the accounting process it is crucial that
payments made and received by your business are
recorded and accounted for correctly. eg. assigned to a
sale, assigned to a purchase or recorded as a so called
“drawing” payment (withdrawal from the business).
To simplify this process as much as possible AngelBooks can automatically
import payments and do a pretty good job of assigning the payments
automatically. All you need to do is confirm that the payment is correct and
add any more information required to complete the import.
If you use a PayPal account then AngelBooks can make use of the PayPal third
party api and automatically import payments for you every 24hrs. For other
bank accounts it can import bank statements in QIF (Quicken Interchange
Format), OFX (Open Financial Exchange) or CSV (Comma Separated Values) formats which covers the vast
majority of UK banks.
Having a smooth and efficient payment import process means less work for you
and less chance of costly errors.
Accounting & Reporting >>