Import bank statements

To save time, you can import bank statement transactions instead of manually entering them.

Download your bank statement

Of course, you can only do this if your bank or other financial institution allows you to electronically export the statement first. Follow your bank’s procedures for defining and downloading a statement or transaction list. To limit redundant transactions, try to download a statement covering only the period since you last downloaded one. Manager will accept statements in these formats:

If your bank does not offer one of these formats, you may be able to import the statement into a spreadsheet program and convert it to *.csv format. If you import a *.csv file, Manager will recognize the following columns:

Import your bank statement

To import a bank statement into Manager, go to the Bank Transactions tab, click on New Bank Transaction, and select Import bank statement:

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Select the bank account to which you will import the statement. Click Choose File and browse to the file you downloaded from your bank:

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Click Next. Review the summary of transactions to be imported and press the Import button.

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Manager has the ability to recognize most duplicate transactions, based on type, date, and amount. In the import illustrated above, Manager does not recognize any duplicates and imports all transactions.

After the import is complete, Manager returns you to a list of uncategorized transactions. Here, imported transactions are displayed in one of two ways:

The illustration below shows a portion of the Uncategorized transactions list for the import shown above. Of transactions shown, only one was recognized under a bank rule:

Edit transactions to post them to proper accounts or add descriptions or other information. When a transaction has been satisfactorily edited, it will disappear from the list. If the transaction is likely to be repeated in the future, click New Bank Rule to define a rule that will recognize and categorize it automatically next time. The account assigned by the newly defined bank rule will be shown. When all transactions have been posted to desired accounts, check boxes for those you want to update and click Bulk Update. (In most situations, this will include only those recognized by bank rules, because any that were edited will no longer appear in the list.)

Transactions categorized by bank rules are only tentatively assigned to accounts. Until they are selected and updated with the Bulk Update button, the categorization is not final.

Bank statement imports have the potential to duplicate transactions already entered either manually or by prior import. They might also eliminate transactions erroneously as duplicates when dates and amounts are the same. (This could happen, for example, when a frequent customer buys the same thing several times in one day and some transactions are entered manually.) To minimize such problems, thorough review of imported transactions is recommended when the process is complete. The bank statement import feature is meant to save time in data entry, not substitute for regular review and oversight.



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