Lili Premium and Smart customers can connect up to 3 external business credit cards to their Lili account and sync their credit card transactions, categorize them and have them included in all of their Lili accounting reports and insight widgets that appear on their dashboard.
The purchases on each of the external credit cards will be imported at least once a day. Customers can see the actual timestamp of the last update by going to the Web App, clicking the “Manage Linked Cards” option found at the top right of the “Linked Credit Cards” tab located in the Transactions screen. From this same tab, customers can also add an additional credit card to their Lili account, if they haven’t already added three.
How do I add an external credit card and sync it to my Lili account?
To add an external business credit card and sync it to your Lili account, do the following using Lili's Web App:
- go to Transactions and at the top right, click on Sync Your Credit Card
- A pop up will show explaining the feature with a disclaimer that it is an integration using Plaid - click on Continue
- A Plaid window will open. Follow the steps including choosing your external bank, entering credentials and selecting the credit card account
Transactions from the linked credit card will show in a new dedicated tab on the Transactions page, called “Linked Credit Cards”.
Each imported transaction will then be categorized by Lili's AI, and the customer will confirm or edit the suggested category. Please go here to find a list of the available income and expense categories.
How do I update my credit card credentials when they expire / change?
When your linked credit card credentials expire / change, you will be notified with a message that appears on the specific credit card, visible at the top of the “Linked Credit Cards” tab. To resolve the issue, open you account using the Web App, click on the “Manage Linked Cards” option and to the right of the relevant credit card, click on the three dots, choose "Reconnect" and enter the new / valid credit card credentials.
Will the synched credit card transactions be automatically included in my accounting reports?
Yes. Once you confirm or edit the category of a transaction, it will automatically be included in your financial and tax reports, in the same way that your categorized Lili debit card transactions are included.
How do I disconnect a linked credit card?
If you wish to disconnect a linked credit card, using the Web App, go to the Transactions > Linked Credit Cards > “Manage Linked Cards” option, and click on the symbol to the right of the card. You will receive a popup asking if you are sure about unlinking the card and deleting all the synced transactions. Click on Unlink to complete the process.
Lili is a financial technology company, not a bank. Banking services are provided by Sunrise Banks, N.A., Member FDIC. The Lili Visa® Debit Card is issued by Sunrise Banks, N.A., Member FDIC, pursuant to a license from Visa U.S.A., Inc. The Card may be used everywhere Visa debit cards are accepted.
Wire Transfer services are provided by Column Bank N.A., Member FDIC. All wires are subject to acceptance criteria and risk-based review and may be rejected at the sole discretion of Column Bank N. A. or Lili App Inc.