Even if you already have third-party bank access through QuickBooks Online, here are the key reasons accounting firms use LedgerSync to manage their client banking data.
You can send clients a secure link by text message or email. They sign in to their bank themselves to connect or fix their bank connection through MasterCard, MX or Statements & Checks, so your team does not have to collect clients' bank logins to get their data.
When a client changes their bank password or the bank asks for a new security code, the connection stops working until the client fixes it. In the Communication Center, Bank Connections with invalid credentials shows how many connections need attention. Click Notify Clients to pick the affected clients and send all of them, by text message or email, a link to fix their connection from their phone.
With Statements & Checks, LedgerSync can pull check images from supported banks, along with some statements that the MasterCard and MX connections do not provide.
If a client only has PDF bank statements, including scanned ones, the PDF Converter can turn them into Excel, CSV, QBO or OFX files.
The LedgerSync Rules Engine lets you set categorization rules once at the firm level and use them across your QuickBooks Online clients. It supports Global Rules (firm-wide) and Client Rules (for one client), and Client Rules can split a transaction across categories.
A Global Rule must be associated with a Global Category. It applies automatically to every client that has that category mapped, including clients you add later once their categories are mapped. Before you save a rule, the Rule Impact Preview shows how many transactions it will categorize and which clients are affected.
LedgerSync can use AI to suggest a Global Rule from a transaction. Global Rules + AI (marked beta, under Rules) goes further: in one run it scans every unassigned transaction and creates global rules, and vendors when needed. The rules it creates have names that start with AI.
It uses the global categories you already have and does not create new ones, so some rules may come without a category. You still map categories to clients yourself, and you should review the new rules in Global Rules before relying on them.
If you do not see Global Rules + AI, ask the owner of your firm's LedgerSync account. It shows only to people with the Bulk AI Rule Update permission.
LS Bank Reconciliation builds a running balance for a bank account from its transactions.
When you connect LedgerSync to ChatGPT, Claude or Grok, the AI works with the raw bank data LedgerSync collects: your clients' bank accounts, statements and transactions, including transactions that are still waiting to be categorized. To set it up, see LedgerSync Connector Address and Setup for ChatGPT, Claude and Grok.
Contact us at support@ledgersync.com.