Import Bank Transactions Manually
The Import Bank Transactions feature allows users to manually upload bank transaction files when automatic synchronization is unavailable or when transactions need to be imported from a financial institution that does not support direct connectivity. The import process is guided through a three-step process to ensure accurate mapping and validation before transactions are added to the system.
Import Bank Transactions Process:
Step 1: Select Bank Account and Upload File
- In the first step, users select the bank account, upload the transaction file and then click on the Next button for further processing.
- Bank account: Select the bank account (which are added manually), where the transaction needs to be imported. Learn more to add bank/credit cards manually.
- Transaction file: Upload a supported transaction file (CSV or XLS/XLSX).
- Validations: Bank account selection is mandatory. A transaction file must be uploaded. Only supported file formats are accepted. File size must be within the configured system limit. The uploaded file must contain transaction data.
Step 2: Match File Columns with System Columns
- The system reads the uploaded file and displays a column mapping screen where users map file columns to the system’s transaction fields.
- Here, the system’s transaction fields would be Date, Description, Amount, Category and Memo. Out of which Date, Description and Amount are mandatory fields.
- Users must select the date format used in the uploaded file from a dropdown. This ensures transaction dates are interpreted correctly during import. Here, supported date formats are DD/MM/YYYY, MM/DD/YYYY and YYYY/MM/DD.
- Users specify how transaction amounts are represented in the uploaded file.
A) Single Amount Column: The file contains one Amount column. Positive and negative values are used to distinguish credits and debits. E.g. Users map: Amount → Amount.
B) Separate Debit and Credit Columns: The file contains two separate columns: Debit and Credit. Users map each column independently. E.g. Users map: Debit Column → Debit Amount, Credit Column → Credit Amount.
Step 3: Review, Confirm and Import
- The final step provides a preview of the transactions before importing them into the system.
- Here, the Back button returns to the previous step for corrections. While the Import button imports all the transactions.
- Imported transactions are added to the selected bank account and initially appear in the For Review list until they are matched or excluded.
- Refer Bank Transactions List for reconciliation process.