From the Bank Feeds dashboard you can manage all your accounts and see the number of transactions ready to reconcile.
Select the blue 'Reconcile Items' button to get started.
How Reconciling Bank Feed Transactions Works in TaxTank
When reviewing your bank feeds, you’ve got three options for reconciling transactions:
Allocate – Use this to allocate an income or expense to the correct Tank and category.
Find & Match – Use this to match a bank feed transaction to something you've already added in one of your Tanks.
Transfer – Use this to match transfers between your own accounts (e.g. moving funds from one bank account to another).
Allocating Transactions
To allocate a transaction:
Open the dropdown next to the bank feed entry.
Choose Allocate.
Then follow the steps below:
Step 1 – Choose the Tank
Select the relevant Tank based on what the transaction relates to:
Property Tank – Property income or expenses
Work Tank – Employment-related income or expenses
Sole Tank – Sole trader income or business-related costs
Holdings Tank – Investments like shares or crypto
Personal – Private expenses that don’t affect your tax
Step 2 – Select the Category
Pick the category that best fits the transaction. You can also adjust the claim percentage if part of the transaction was for private use.
Step 3 – Attach a Receipt (Optional, but recommended)
Click the paperclip icon to upload or drag in a receipt. Once uploaded, the icon will turn green.
All attached receipts are securely stored in your Spare Tank, so you’ve got solid records in case the ATO ever comes knocking.
Step 4 – Confirm
Click Continue to finalise the allocation.
If it's an expense, you're done.
If it's income, you’ll be prompted to add extra details (like gross amount, tax withheld, or credits) so it’s reported correctly in your tax summary.
You can also watch our comprehensive tutorial on how to master bank feeds.