Frequently Asked Questions
Everything you need to know about FidelMind. Can't find the answer you're looking for? Contact our support team.
What is FidelMind?
FidelMind is an AI-powered bookkeeping and accounting platform designed for small businesses across the European Union. It automates invoice processing, expense categorization, bank reconciliation, and VAT reporting using machine learning. The platform reduces manual data entry, helps maintain accurate financial records, and ensures compliance with local tax regulations. FidelMind supports multiple EU countries and provides real-time financial insights through an intuitive dashboard.
How does AI bookkeeping work?
FidelMind uses machine learning algorithms to automatically categorize transactions, extract data from invoices and receipts, and reconcile bank statements. The AI learns from your historical data and accounting patterns to improve accuracy over time. You simply upload documents or connect your bank account, and the system handles the rest. All AI-generated entries are reviewable, so you maintain full control over your financial records while saving hours of manual work each week.
Which EU countries are supported?
FidelMind currently supports businesses in Estonia, Latvia, Lithuania, Finland, Germany, France, Netherlands, Belgium, Austria, Spain, Italy, Portugal, Ireland, Poland, Czech Republic, Slovakia, Hungary, Romania, Bulgaria, Croatia, Slovenia, Sweden, Denmark, and Luxembourg. Each country module includes localized VAT rates, tax reporting templates, and compliance rules. We regularly add new EU member states based on customer demand and regulatory requirements.
How much does it cost?
FidelMind offers three pricing tiers. The Starter plan costs €29 per month and includes basic bookkeeping, invoicing, and bank reconciliation for up to 100 transactions monthly. The Professional plan at €59 per month adds advanced reporting, multi-currency support, and unlimited transactions. The Enterprise plan at €99 per month includes priority support, API access, custom integrations, and dedicated account management. All plans include a 14-day free trial with no credit card required.
Is my data secure?
Yes, data security is our top priority. FidelMind uses AES-256 encryption for data at rest and TLS 1.3 for data in transit. All data is stored on servers located within the European Union, ensuring full GDPR compliance. We conduct regular security audits, maintain SOC 2 Type II certification, and implement strict access controls. Your financial data is never shared with third parties, and you retain full ownership of your information at all times.
How does VAT compliance work?
FidelMind automatically calculates VAT rates based on your country of operation and the type of transaction. The system generates VAT reports in the format required by your local tax authority, including periodic returns and annual summaries. It tracks both input and output VAT, handles reverse charge mechanisms for intra-EU transactions, and updates tax rates automatically when regulations change. You can file directly or export reports for your accountant.
Can I import existing data?
Yes, FidelMind supports importing data from various sources. You can upload CSV or Excel files containing historical transactions, customer lists, supplier records, and chart of accounts. The platform also integrates with major accounting software like QuickBooks, Xero, and Sage, allowing seamless migration of your existing financial data. Our import wizard guides you through mapping fields and validating data to ensure accuracy during the transition process.
What about multi-currency support?
FidelMind supports transactions in over 30 currencies with automatic exchange rate updates from the European Central Bank. You can issue invoices, record expenses, and reconcile bank accounts in multiple currencies. The system handles currency conversion for reporting purposes and tracks exchange rate gains and losses. Multi-currency support is available on Professional and Enterprise plans, making it ideal for businesses with international customers or suppliers.
How do I get started?
Getting started with FidelMind takes just a few minutes. Create your account, select your country, and complete the initial setup wizard. You will be guided through connecting your bank account, importing existing data, and configuring your chart of accounts. Our onboarding process includes a brief tutorial to familiarize you with the dashboard. Most users are fully set up and processing their first transactions within 30 minutes of signing up.
Can I cancel anytime?
Yes, you can cancel your FidelMind subscription at any time without penalties or long-term commitments. Your account remains active until the end of the current billing period, after which it switches to read-only mode. You can export all your data in standard formats before cancellation. We do not charge cancellation fees, and you can reactivate your account at any time. Our goal is to earn your business through value, not lock-in contracts.
What support is available?
FidelMind provides multiple support channels. All users have access to our comprehensive knowledge base, video tutorials, and community forum. Email support is available on all plans with a guaranteed response time of 24 hours. Professional and Enterprise plans include live chat support during business hours. Enterprise customers receive dedicated account management and priority phone support. We also offer personalized onboarding assistance for new subscribers.
How does bank reconciliation work?
FidelMind connects securely to your bank account via open banking APIs or direct bank feeds. Transactions are imported automatically and matched against your invoices, expenses, and other records using AI-powered matching algorithms. Unmatched transactions are flagged for your review, and the system suggests likely matches based on historical patterns. You can approve matches individually or in bulk, ensuring your books stay accurate with minimal manual effort.
What about data retention?
FidelMind retains your financial data for as long as your account is active. After cancellation, data is kept in read-only mode for 90 days to allow you to export everything you need. You can request permanent deletion of your data at any time, and we will remove all personal and financial information within 30 days in compliance with GDPR requirements. We never delete data without explicit confirmation from you.
Is there a free trial?
Yes, every FidelMind plan comes with a 14-day free trial that includes full access to all features. No credit card is required to start your trial. You can explore the complete platform, connect your bank account, import data, and process real transactions during the trial period. When the trial ends, you can choose a plan that fits your needs or simply let the account expire without any charges.
Still have questions?
Our support team is here to help you get the most out of FidelMind. Reach out anytime and we'll get back to you within 24 hours.
Contact Support