Importing Bank & Credit Card Account Statements
Importing your statements is very important if you were to reconcile your bank/credit card accounts or to verify that you have accounted for every transaction that has happened in your bank/credit card accounts.
- How to import a bank/credit card statement?
- How to match statement lines to transactions?
- How to add a matching transaction?
- How to delete and restore statement lines?
How to import a bank/credit card statement?
Check if your bank or credit card provider is able to give you a periodic statement as a csv file. If they don't then simply use an online tool that can turn your file into the csv format. Once you have the file ready, get on with your import:
- Go to the Banking tab.
- From the list of bank accounts that are displayed, move your mouse over the account to which the statement is to be imported. When you click on the clog wheel against the bank name, the actions menu is displayed. In the action menu, click the import statement link.
This begins the three stage Import Process.
Stage 1 - Select File
In the first step, you must upload the csv file from the bank. Our recommendation would be to download the sample file (see image below), get your data organized onto that and then go on with the import. If you have way too much data to do this, you can always glance through the sample to make sure that you have the required data on your file. Another selection, that you are asked to make is if your import file has the transaction amount listed out as deposits and withdrawals or if it shows a single amount. Make your choice and move on to the next step.
Stage 2 - Map Fields
The second step is where you'll notice that downloading the sample file and organizing your data on to it was an awesome move. If you'd done just that, then the system would automatically match the imported files headers with the relevant Zoho Books field. If you hadn't used the sample file, simply match the fields based on the descriptions we've provided above for each of those fields.
Stage 3 - Preview Import
In the third step, the system tells you how well your import would turn out. It would list out the list of records or fields that would be skipped. Clicking the number of records skipped will tell you the reason as to why they would be skipped. See our troubleshooting guide below for tips and tricks on fixing import related issues. Once you have all the discrepancies fixed, go ahead with the import. This concludes the third step import process.
How to match statement lines with transactions?
Once you have your statements imported in, you must be curious to know if you have all the details on your statement entered into Zoho Books. Once you import a statement, Zoho Books brings up a screen that's designed to help you match the transactions on a statement to the transactions that have already recorded in Zoho Books. Once you import the statement, you are directed to this screen immediately. If you have skipped it, here's how you can get to that screen:
- Head to the actions menu for that bank account and click the statements link.
- This brings up a list of statements that are imported for that account until now.
- Click the statement which is to be matched. This brings up the screen below, where the matching is done.
Click a particular statement line to see how Zoho Books pulls up all the transactions that can possibly be matched to that line. The transactions are pulled up purely based on the transacted amount and the date. The primary considerations would be:
Amount |
Based on the amount in the statement line, Zoho Books displays all transactions that can make up to that amount or if they are of that amount. For instance: if the statement line amount says, $200, Zoho Books pulls up all transactions that have the amount as $200 or a combination of transactions which can make up a total transaction amount of $200. |
Date |
All transactions matching the amount recorded +19 days or -19 days from the statement dates are displayed. |
How to add a matching transaction?
When there are no transactions matching a statement line, you can add a matching transaction. Here's how you can do this:
- On the screen where your statement lines are being matched to the transactions in Zoho Books, click the Add and Match button.
- A pop-up comes up, where you can enter the details of the new transaction.
- Once you are done with entering the details, click on Save and Match and the transaction is automatically matched to that statement line.
How to delete and restore statement lines?
When there are statement lines that are repeated, you can delete them. When deleted it is not removed permenantly from the system. Instead, it is saved up and could be restored when required. To delete a statement line:
- From the screen where the statement lines are matched to transactions, click the actions icon for the statement line that is to be deleted.
- Click the delete option in the actions menu.
- Confirm if you are OK with deleting the statement line. On doing so the statement line is removed from the statement in view.
To restore the statement line:
- On the screen where the statement lines are matched to transactions, from the show drop down of the statment lines, select the Deleted option.
- This brings up a list of all deleted statement lines on that statement. Go to the actions menu for that statement line.
- Click the Restore option in the actions menu.
- The statement line is restored and will be in view when you match the statement lines to transactions.