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Connect WIO Bank

Connecting your WIO Bank account to Fiskl Banking transforms your financial management, especially for businesses using multiple currencies. This integration simplifies the traditionally complex process of reconciling transfers between accounts, saving you time and reducing errors.

How it Works​

When you connect WIO Bank to Fiskl Banking:

  1. Fiskl imports all transactions from your WIO Bank account(s)
  2. We create accurate ledger entries for each transaction, including:
    • Transaction amounts
    • Currency conversion rates for multi-currency transfers
  3. Ledger accounts are automatically created and updated
  4. Zero-touch reconciliation is performed for all account transfers, including multi-currency accounts
  5. Opening balances are created where needed

This process eliminates the need to manually reconcile transfers between accounts, greatly simplifying your accounting workflow.

Benefits​

  • Zero-touch reconciliation: Automates reconciliation of transfers between WIO accounts, including multi-currency accounts
  • Improved cash flow management: Accurately categorizes internal transfers for better financial insights
  • Time savings: Reduces finance admin time for both users and their accountants
  • Multi-currency support: Handles transactions and conversions across different currencies
  • OpenBanking integration: Ensures secure and efficient data sharing
  • Multiple account support: Connect and manage multiple WIO bank accounts

Connecting Your WIO Bank Account​

  1. Go to Banking in the left menu
  2. Select "WIO Bank" from the available options
  3. Configure your connection:
    • Choose the consent duration
    • Select a start date for importing transactions
  4. Sign in to your WIO bank account
  5. Select the accounts you want to connect to Fiskl
  6. Select "Allow" to grant access
info

You can connect multiple WIO bank accounts by repeating this process for each account.

Managing Connected Accounts​

After connecting your WIO bank account(s):

  1. Your accounts will appear in the Banking section
  2. To edit account details:
    • Select the edit button on the account card
    • Modify the account name for easier identification

Automatic Transaction Categorization​

Fiskl automatically categorizes your WIO transactions to streamline your bookkeeping process. For more details on how this works, refer to the "Your bank transactions" section in our guide.

Maintaining Your Connection​

  • Regularly check your WIO bank connection to ensure it remains active
  • Be aware of the consent duration you set and renew access when necessary

Remember: Keeping your WIO Bank connection up-to-date ensures accurate and timely financial data in Fiskl, maximizing the benefits of the automated reconciliation feature.