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Import bank and credit card statements

The easiest way to work with bank transactions is to set up bank feeds, which saves you a huge amount of time on data entry.

But if you haven't set up bank feeds for any of your bank or credit card accounts, you can import an electronic bank statement instead. This lets you create rules and work with the bank transactions in a similar way you would if you had bank feeds.

If you've set up a bank feed, you don't need to import statements unless you want to import bank transactions from before your bank feed was activated.

Downloading statements from your bank

Before you can import a bank statement, you'll need to download it from your internet banking website. Save the bank statement as a .QIF or .OFX file, and if you have a choice of date formats, choose dd/mm/yy. Bank statement files must be less than 10MB.

Check your bank's website for more information on downloading bank statements, or speak to your bank.

Tips for importing statements:

  • You don't need to import statements in date order. You can import statements from earlier or later than the last one imported.

  • If you're importing several months’ worth of statements, it's best to import and reconcile them one month at a time. This will make it easier to manage a large backlog of transactions.

  • You can't import transactions that are dated earlier than the Opening balance month set in your Business settings.

  • Set up rules to automate a lot of manual data entry.

 

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