This article explains how to import a .csv file of your bank transactions to Resident.
Most high street banks with online banking services will allow you to download the list of your bank transactions in a .csv format (CSV stands for comma separated values). Once you have downloaded the file for a selected period from your bank, simply save it on your computer. In most cases, you will not have to make any modifications to that file. If however you do, the .csv file can be opened in Excel.
Remark 1:
It is worth checking if your date has a correct numerical format (dd/mm/yyyy).
The date needs to be in the following numerical format (dd/mm/yyyy). If it isn't, there is a quick way you can change this in Excel using the following method:
- Select the column with dates in it
- Right click and select 'Format Cells'
- In the pop up box that appears, select 'Date'
- In the 'Type' pane scroll through the options until you find the correct format e.g. 14/03/2012 and select
- Press 'OK'
Remark 2:
It is worth checking that there are no currency symbols next to transaction amounts. In Excel you can quickly remove all currency symbols using the following method:
- Select column/s with amounts
- Pres Crtl+f to open the Find and Replace option
- Select the Replace tab
- In the top 'Find what' field type the currency symbol you want to remove and leave the bottom 'Replace with' field blank
- Press 'Replace All' and watch the magic happen!
Remark 3:
You can upload bank transactions only if you have selected 'Standard - Import From CSV' reconciliation type for your bank account. For more details please check article Adding Bank Account.
To upload your bank statement please open the required block and navigate to Block' > 'Block Accounts' > 'Transactions'. Then click 'More Actions' and 'Import Bank Statement'.
The next screen allows us to choose the bank account and select the file for upload. After we select the file from our drive we will see a preview of the data.
You can still edit previewed data and Resident will always upload data as it is shown on screen.
Remark 4:
It is not recommended to edit data from your file here as Resident will not be able to flag up duplicated transactions if you ever try to import this statement again. The system prevent transactions with the same date, description and amount form being imported twice.
Once you have selected your file, you now need to make sure the columns have the correct column headings. This is the most important part of the import as if incorrect it may lead to problems with reconciliation.
You have the following headings to choose from:
- Date - It can be selected only for one column
- Description - This is your transaction description. As above it can be selected for only one column.
- Amount - It will convert all values in the column according to their signs: negative to debit transactions and positive to credits. You cannot have any other 'Amount' type heading when using it.
- Amount Credit - It will convert all values from the column into credits ignoring the sign. It can be used together with Amount Debit.
- Amount Debit - It will convert all values from the column into debits ignoring the sign. It can be used together with Amount Credit.
- None - Select for all unused column which will be ignored.
If there are transactions you do not want to be included in this import, you can deselect them in the last column to your right called 'Import'
Once your headings have been selected and you are ready to import, simply press 'Import Bank Transaction'. Once import is done you should be left with an empty list with the option to 'Return to Transactions Page'.
Now you can start your reconciliation process. You can find more details regarding that in this Reconciliation method for CSV Import article.