App Aware: LedgerSync

LedgerSync is connected with 850+ banks and credit card issuers, in both the U.S. and Canada. LedgerSync can extract check images, deposit slips, transactions, summary data and bank/credit card PDF statements. This gives you the accountant, bookkeeper or trusted advisor access to all of your clients' financial transactions in one place. 

LedgerSync provides greater control than 'accounting system' bank feeds alone by allowing you to match transactions with the checks and giving you the ability to edit the data before importing it into QuickBooks or Xero. Exporting from LedgerSync to QuickBooks Desktop, QBO or Xero is just a few steps. LedgerSync also gives you the ability to push data to Dropbox, Sharefile, and soon, SmartVault.

LedgerSync's key features include:

  • Access to Client Checks and allowing you to code transactions from actual Check. Your G/L Bank-feeds don't bring in actual document images.
  • Access to Clients' full Bank-statements
  • We extract Transactions directly from the Bank/Credit Card web site
  • No need to hassle clients for their checks/statements because LedgerSync does the work for them
  • Clients enter their bank credentials into LedgerSync directly, there is no need for them to share their credentials.
  • Banks only hold the data for a limited time, but LedgerSync stores all the data without purging it
  • Export to Sharefile or Dropbox (and soon SmartVault too)
  • Export LedgerSync data for import by QuickBooks Desktop, QBO or Xero.
  • LedgerSync allows you to segregate employees and client access for security

The people at LedgerSync have made their application intentionally simple using a seven-step process:

  1. CPA adds client to LedgerSync
  2. CPA sends out invite
  3. Client enters and selects their bank(s), then enters their log-in credentials
  4. LedgerSync connects to bank and extracts all the data
  5. CPA has access to all of the Bank Feed data
  6. CPA reviews data, reviews checks and edits the data. Statements can be used to reconcile the month-end and make sure the numbers tie-out
  7. Export the data for import into the General Ledger

For more information about LedgerSync, or to schedule a free demonstration, see their website. To sign-up for a LedgerSync Accountant Free Trial click here.