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Bookkeeping

Why might a bookkeeping tool intentionally avoid bank feed/Plaid connections?

44:06From the June 2 call · Real Estate Bookkeeping Tools, Local Claude Setups, and AI Compliance Networks

One builder of a real-estate-focused accounting tool intentionally left out bank connections, which surprised others in the group since bank feeds are usually seen as the 'high-tech' approach. The reasoning given: Plaid connections, even when clean and stable, don't deliver key data needed — no check images, and critically, no data on in-house/private loans (common in real estate), which Plaid and similar services don't push out at all. A dedicated loan module was built instead to handle actual/360, actual/365, floating rate, fixed rate, modifiable rate, and balloon loans as calculations rather than relying on feed data. Check categorization is also unreliable without the check image itself, regardless of how good category rules are. Building an agent to log into a bank and pull statements/images directly was raised as a theoretical option, but was explicitly rejected as a current approach due to trust and security concerns — 'we have drawn the line on that.'

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