Hi, bjs1 a warm welcome to you as a new subscriber of MYOB AccountRight. Thank you for your post!
You can save time on data entry by having information from your financial institution transmitted directly to AccountRight using bank feeds. It is a quicker option than importing a bank statement.
A subscription to AccountRight includes bank feeds, which may be used with both online and offline company files. We actively support a large number of financial institutions in Australia and New Zealand.
To answer your question if it's really required, I'll say it is more convenient.
In addition, you can check this Help Article: How bank feeds can for you
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information
Regards,
Hannah