Objective

You can import bank statement data to AccountsPrep in three ways:

  1. Direct import from the company's AutoEntry bank statements folder

  2. Upload CSV file using one of two template formats provided

  3. Manually entering transactions

This article will go through each method in detail, and provide some tips for ease of use.

Applies To

  • AccountsPrep users looking to post bank statement transactions to the general ledger.

Procedure

1. Direct Import from the Company's AutoEntry Bank Statements Folder

You can import bank statement data to AccountsPrep as a direct import by following these steps:

  1. After your statement is uploaded and processed by AutoEntry, open either the Bank Accounts or Bank Statements options from the Banks tab on the navigation bar within AccountsPrep.

  2. Click the Add Statement Data + button within either of these pages.

  3. Select the relevant Bank Account from the dropdown menu, then select the Use AutoEntry statement capture option highlighted in blue below and click Continue.

  4. You will be brought to the screen below, select the correct bank account in step 1 and the relevant file in step 2 and the required date range before clicking Continue.

  5. You can also directly import your statement data from your Bank Statement folder's Inbox.

2. Upload CSV File Using One of Two Template Formats Provided

You can import bank statement data to AccountsPrep as a CSV file by following these steps:

  1. Open your Bank Statements folder and click the Download button, then select the AccountsPrep format.

  2. Once downloaded, you can now import this file into AccountsPrep using either the Bank Accounts or Bank Statements options from the Banks tab on the navigation bar within AccountsPrep.

  3. Click the Add Statement Data + button within either of these pages.

  4. Select the relevant Bank Account from the drop-down menu, then select Import data using a CSV file and click the green Continue button.

  5. You will then be given the option to attach the previously downloaded CSV file.

3. Manually Entering Transactions

If you wish to manually enter transactions you can use the Enter data on-screen option on the Import screen. You will then need to manually add each line.

Using any of these methods, upon successful import of data, you will immediately be re-directed to the Bank Statement screen for that bank account with the Unposted tab open. There you will find all your unposted transactions (including those just imported) waiting to be coded to the general ledger.

Additional Information

Key things to know for coding bank statement data:

  • If there is a payment to (or receipt from) another account which is set up as a bank account, then you need to follow the process for a bank transfer - see here for more.

  • If there are payments which need to be reconciled/matched with outstanding cheques see here.

  • If there are receipts which need to be reconciled/matched with outstanding deposits follow the same method as cheques (above), but for deposits instead.

  • If you need to split a payment or receipt amount between two or more accounts see here.

Checking the accuracy of bank statement data:

  • After posting bank statement batches you should check the Bank Statement report to ensure it's consistent with the bank statement from the financial institution.

  • Also, see the Bank Reconciliation report to check the statement is reconciled properly with the ledger.

  • Finally, if there are inconsistencies please ensure that the opening bank statement balance was entered correctly.

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