Where possible, we recommend you make use of this functionality to enter bank transactions. This will enhance efficiency, accuracy and transparency in managing your payments and receipts. Use Import Rules for intelligent, assisted transaction entry.
Download your electronic bank statement
the first step is to download your bank statement from your online banking account in either OFX, QFX, QIF or CSV formats and save the downloaded file on your local computer.
Importing the downloaded file
Once you have downloaded the OFX, QFX, QIF or CSV file from your online banking, navigate to the Banking tab and then the Bank Statement Import tab. Click the New Import button.
- File to import: Click on the Browse button and select the OFX, QFX, QIF or CSV file that you previously downloaded and saved on your computer.
- PayPal Import: If you are importing a PayPal file, then this option must be selected.
Once you have made your selections, click the Upload button to read the transactions in the selected file.
You must specify the following:
- Bank account: specify the bank account that you would like to import the data into
- First row contains headings: use this option to prevent a row containing headings from being imported.
- Date format: this will be automatically determined if possible and must match the date format in the file.
Assign each of the fields in the file to an appropriate system field by selecting the available system fields in the dropdown boxes provided.
- Don't Import: use this option to ignore the values in a particular field.
- Transaction Date: must be assigned.
- Amount: must be assigned.
- Payee: represents the payee or payer and is the key field for creating an Import Rule.
- Transaction Memo: the values in this field will appear in the Memo field in the saved bank transaction.
- Reference: the values in this field will appear in the Reference field in the saved bank transaction.
- Item Description: the values in this field will appear in the line item Description field in the saved bank transaction.
Click the Complete Import button to create the bank statement. You will be transferred to the Imported Bank Statement detail screen from where you can process the individual transactions in the bank statement.
Tip for users who cannot download Bank Statements
You can create a bank statement import file from scratch by entering a record for each bank transaction in your favorite spreadsheet program and saving the file as a CSV type. This is helpful if you cannot download a statement from your bank but wish to use the Import Bank Statement tool and would like an online record of statements in eFolio Accounts.
- Open spreadsheet program.
- Create rows of information representing bank transactions.
- Enter at least 4 columns of information.
- Amount: positive amounts create Receive Money and negative amounts create Spend Money.
Date: date transaction clears in bank account. Use format DD/MM/YYYY, DD/MM/YY, YYYY/MM/DD, YYYY-MM-DD, DD-MM-YY or DD-MM-YYYY.
Payer/Payee: the text entered here is matched against the search term of Import Rules.
Description: the text entered here can be inserted into the Reference, Memo or Description field of the bank transaction.
- Save the file as file type CSV.
- If any text or numbers contain commas, then they should be delimited with quotation marks as follows (the spreadsheet program should do this automatically):
11/06/2009,"-1,250.20",Telco Ltd,Telephone Charges
15/06/2009,-25.50,Charges,"Bank Charges, May09"
Go back to the top of this page and process the file as a CSV type.