BankSummary vs Bokeping

BankSummary is a web service that puts connected bank accounts into one dashboard for balances and transaction activity. Through Plaid, it connects to more than 12,000 financial institutions across the United States and Canada. Supported account types include checking, savings, credit card, investment, mortgage, and loan accounts. The dashboard provides balance tracking, transaction search, spending insights, financial forecasting, cash-position views, inflow and outflow tracking, and automated reports. Transactions are categorized automatically, and categories can be renamed. Reports can be downloaded as CSV, DOC, or PDF files. BankSummary can export to or synchronize with accounting tools, spreadsheets, and ERP systems. Connections are read-only: the service can view balances and transaction history but cannot make payments, transfer funds, or change bank accounts. Data is protected with AES-256 encryption in transit and at rest, and access uses multi-factor authentication. Bank credentials are not stored on its servers. A free plan costs nothing for up to two accounts; no credit card is required. A free trial is also available.

Bokeping is online bookkeeping software for small businesses, covering invoices, bills, bank transactions, and financial reports through a web app and API. Businesses can create invoices, accept payments through Stripe or Forte, and send automatic payment reminders. Plaid bank connections reach thousands of US banks and card accounts and are read-only; CSV and QBO imports are also supported. Accounting tools include financial statements, a general ledger, sales tax features, inventory tracking, and cost-of-goods-sold tracking. Each plan includes two external accountant logins that do not count toward its user limit. The Free plan costs nothing and covers one user, 20 of each sales and purchase record monthly, CSV bank imports, and financial statements. Standard is $29 a month, or $290/year, and Pro is $59 a month, or $590/year. Bokeping says financial data is encrypted in transit and at rest, and customers can export or delete it. All plans include email and chat support, which the company says is answered by people within one business day.