A bank connection to our accounting system is view-only. This access allows us to track, reconcile, and manage your financials. Formations will not be able to make payments on your behalf, transfer funds, or complete any other movement of funds for you.
3rd-Party Accountant Access Saves You Even More Time
You are encouraged to set up 3rd-party access for Formations through your bank or credit union. This access is view-only and provides an extra layer of access for Formations to perform additional tasks for you. Third-party access allows us to download monthly pdf bank statements, view canceled check images, and verify account balances on our own. In short, it will reduce the number of requests you receive from our team, empowering us to complete tedious and repetitive admin tasks on your behalf.
Each bank has different policies, setup procedures, and may have a fee to grant this type of access. For customers who use one of our preferred banking partners: Wells Fargo, Chase, and Bank of America – reach out to us for instructions on how to set this up. If you use a separate bank outside of our primary partners, you will need to check with them about how to set up “third-party, view-only access for accountants.”