We’re excited to introduce a major new capability in the Finance module: automated bank account reconciliation. Previously, reconciling your bank statements meant manually downloading CSV files from your bank’s website and uploading them into the system each month. Now, you can securely link your bank accounts directly from within GovPossible and have your transactions imported automatically every night.
Getting started is simple. Navigate to the Stripe tab in your Finance settings, select Financial Connections, and click the “Connect Bank via Stripe” button. A secure window will appear where you can search for and select your bank, then authorize access to your account information. Once connected, you can map each bank account to the appropriate account in your chart of accounts, set a sync start date, and begin importing transactions right away with the “Sync now” option.
After linking your accounts, the system automatically downloads new transactions each night and organizes them into monthly balance periods. You can connect multiple bank accounts, see the sync status for each one, and trigger a manual sync whenever you need the latest data. This update saves your finance team valuable time each month and reduces the chance of errors from manual data entry.