integration with bank

Yes I am looking for this feature as it would be a timesaver

This is a nice idea, but the security implications are horrendous.  

Firstly you are giving your bank security details (password, pin etc) to a third party.  Are you happy that they can keep those details secure?

Secondly, the banks in the UK will not allow third party access to their systems.  

I use You Need A Budget, and that has a bank feed facility, but the security on the NatWest means it doesn't work most of the time.

The only way (as far as I know) to get a bank feed to work is to "screen scrape" - they automatically log in the same way as you would, fill in your security details, and download transactions same as you.  In other words, there is no "back door" access that other applications can use to download transactions.

QuickBooks have a feed to banks, all properly and securely managed. It's probably safer than downloading spreadsheets onto pcs that can be hacked. UK banks will allow third party access.

This would be a game changer if we can get bank integration, just imagine waking up in the morning coming into the office logging into you Landlord vision and at your portfolio dashboard are all recent incoming rents popping up, it would make life much easier, no more constantly checking bank account if rents are in, no more adding payments manually, you will just have confirm the pop up payment is for the suggested tenant and all done.

And with regards to one of the users below concern about security, i would say if Quickbooks is ok with it we can also do it.

Finally to the Landlord vision programmers and manager please get this done as soon as possible as it will be a real game changer.

Thanks

Regards to all of you

Hello

Thank you to everyone who has been involved in this topic so far.  We are researching the available options and upcoming Open Banking APIs to determine the feasibility and cost of implementation.  We will not consider screen scraping for the reasons outlined in this thread

If you are looking for a way to have all of your rents automatically registered in the system, please consider our direct debit facility.  We partner with GoCardless to allow you to set up a DD mandate with your tenant and then collect the rents.  This will also update the Payment Schedule for you as well so when you arrive in the morning all the rents will be in the system and updated

Kind regards

Roy

In addition to recording rental income, this would be a great way of capturing and recording expenses. It would need to link to multiple bank accounts and  credit cards.

thanks for that tip. We won't use the banking whilst it's a manual download, but the DD might help.

This feature is a must. Please add.

This feature would make life a lot easier and I would expect it in the near future. I use xero accounting for my other business and they have had this for a few years already

Kashflow also offers this facility.  It works really well.

If you could allow paying all expenses via your website and then log all those expenses automatically it would be a game changer as it would save hours of uploading receipts to your website.

I've been also using Plentific a maintenance software - in that website you place a float with a 3rd party vendor( in their case mangopay) - you add funds to your personal mangopay account - and can pay with those funds any of the vendors Plentific are affiliated with. But Plentific does the heavy lifting of the paperwork. They generate and record  invoices, receipts and later log  all those expenses and allow the user to get full detail charts of expenses.

One of the hardest things in property management is to keep track of all the payments done to endless vendors  and the paperwork associated with it and so if your website could help with that by eliminating the need to upload and later fill in details about each and every invoice and/or receipt- it would be truly remarkable for your users.

please please do thet . im sure we would all be happy tpo apy more if it meant we could use it in this way 

I currently use quickbooks and i wouldnt need that if landlord vision integrated with my bank  it would be an absloute god send all my contatrctor and supplier payments all rents everything in one place . 

im sure everyone would happily pay more for this feature because of the numerous benefits 

Yes pls do this. You can do this via the new Open Banking/PSD2 regulation mandated on all UK Banks

There are other ways to do this too e.g. via a feed from the bank like this company is doing

https://www.xero.com/uk/features-and-tools/accounting-software/bank-reconciliation/

it would be a shame to fall behind in the market.

Open banking should make this pretty easy to capture the data nowadays and will obviously take care of all the rents and invoices, whereas GoCardless option will just capture the rents...

Bank Feeds are a standard feature of Sage and many other modern accounting applications. They work really well and save a lot of time plus really help to keep your system fully up-to date. Most bank accounts are capable of running bank feeds and it would be an excellent addition to Landlord Vision. Please add HSBC and Barclays Commercial card integration.

I've recently started using Landlord Vision, I love it but this is a big feature that's missing. It is available in almost every finance software application now with the new open banking regulations. 

Plus one for this feature request - so much easier to make sure all invoices have been recorded/paid. Especially important with MTD coming up and needing to submit more frequent statements.

I previously used software that would pull in account transactions from various banks.

The idea was great in principle EXCEPT it pulled in ALL transactions - even prior to the date you want, so you could have hundreds if not thousands on pointless transactions bloating up the process and making reports totally worthless.

System MUST allow you to select what and for when you want info and remember it so it doesnt pull it all through the next time you connect.

I've been with Crunch accounting (crunch.co.uk) for several years and my bank statements are automatically imported each month. All I then have to do is reconcile the transactions which basically means checking an invoice that was issued matches the transaction coming in. Same goes for expenses. There is an option to create the invoice or expense to match the transaction coming in if you didn't make one.

This would be a really useful feature for me as at the moment I'm looking at bank statements and manually matching them up to the expected rent payments which is slow, prone to error and a bit boring.

Hello

Thank you everyone who has suggested this feature

We have now launched the live bank feeds into Landlord Vision using the government backed Open Banking system.  To begin with we are starting with most of the big banks and more banks will be added in the coming weeks based on demand.  Please connect your bank account to your software and start feeding data in for reconciliation from a date of your choice

Kind regards

Roy

Thanks Roy. I hope Barclays will be added soon.... :-)

Great news!  But .... please please please can we have First Direct added soon.  Please!

Hello

Just to update you with progress on adding banks to the live feeds.  We launched with the following banks:

HSBC

Lloyds

Coutts

NatWest

Santander

Royal Bank of Scotland

Ulster Bank

Since then we have added the following banks:

Halifax

Bank of Scotland

Starling Bank

Monzo Bank

First Direct

Nationwide

Barclays

Barclaycard

Tide

TSB

TransferWise

Clydesdale Bank

Virgin Money

Yorkshire Bank

I'll update this list with more banks as we add them.  Keep the requests coming in!

Kind regards

Roy

The bank feed isn't pulling everything though

this is fantastic. Thanks. Please can we have Nationwide?

This is great news. Is it possible to add a bit more security now when Logging in with Landlord Vision to protect this information. I think there is already a ticket for Two-factor/multi-factor authentication somewhere.

TransferWise?

Just logging into Landlord Vision itself. If I log into my bank account it sends me a text to my mobile with a code on it to verify its me. I also have an option to log out all other logged in sessions so I know its only me logged in. This isn't really the ticket for a security discussion but we are dealing with private, sensitive banking data.

The only security at present is a simple log in and password. Very basic.