Eliminating Error through Bank Feeds & Verification

For most firms, bank statements exist disconnected from their legal tech and are updated only on a monthly cycle, if that. These bottlenecks affect operational efficiency and force bookkeepers to track the firm's finances using outdated data.

Nojumi’s Bank Feed feature bridges this gap by pulling direct copies of your bank transactions onto the platform. This ensures your ledger is always an exact reflection of your bank statement, exactly as the bank prepared it. The goal of which is to make sure that your accounting agrees with your bank statement through transaction matching.

Live Bank Feeds & CSV Uploads

Nojumi offers two primary ways to bring your bank statement data into the software, allowing you to choose the method that best fits your firm's legal tech budget and security preferences:

• CSV Uploads: For firms on a Basic Plan or if a past transaction is missing in your bank feed, Nojumi supports CSV uploads of your bank statements.
• Live Bank Feeds: For firms on a Practice Pro Plan or higher, you can connect your bank account directly, unlocking live financial updates within Nojumi. This allows the firm to see actual balances in real time and eliminates the risk of human error associated with manual entry through automation.

Bank Feed Verification

Reconciliation isn't just about matching; it’s about verification. Nojumi encourages Bank Feed Verification for every account, every month. This process ensures that what you see in Nojumi is identical to your official bank statement.

• Eliminating Duplicates: Unlike other software that might silently allow duplicate transactions during an upload, Nojumi cleans your data at the point of entry. We ensure that you have a clean, accurate starting point for the verification process, flagging duplicates before they can clutter your ledger.
• Monthly Verification: By requiring a monthly verification, Nojumi forces a routine check that guarantees your financials are updated and accurate. This prevents unsorted bookkeeping from piling up and ensures that when an auditor asks for your records, the information is already verified and ready.

The Bottom Line

A law firm that manages its money with manual, disconnected systems is a firm at risk. The human error of manual data entry and the lag of non-live balances are hidden costs that impact your financial clarity. By leveraging automated bank feeds and monthly verification procedures, Nojumi turns your bank statements into a proactive tool that assists bookkeepers in managing your firm's future.