Bank Imports Tutorial

Overview#

• You can import data either by selecting a file from a secure server or by copying and pasting text, depending on their access permissions.
• The guide covers data preparation, file import options, handling recurring and duplicate transactions, and verifying transaction entries.

💡These tutorials explain how to import bank transaction data.

How to Choose an Import Option#

The general setting Copy and Paste Bank Import file sets the import option for everyone (see the Bank Import Setup Tutorials):

• No: you import a bank file. Choose it if the people importing the data have access to look for files on the organisation's server (see How to Import a Bank File).
• Yes: you copy and paste the data. Choose it if they do not have access to the server (see How to Copy and Paste Bank Data on Import).

How to Prepare Your Data for Import#

1. Export the data from your bank in .ofx (preferable) or .csv format and save the file in a location you have access to.
   • Note: You do not need to change anything; you can import the file exactly as your bank generates it.

How to Copy and Paste Bank Data on Import#

1. Export a .ofx or .csv file from your bank.
2. Open the .ofx or .csv file you received from your bank using a text reader (e.g. Notepad).
3. Select all the text in your text reader (Ctrl + A) and copy it (Ctrl + C).
4. In BOS Professional, navigate to Bank Import (Main Menu > Accounting > Bank Import).
5. Click Menu (button) > Import. If you have more than one bank account, select the relevant Bank Account.
6. Paste your text in the box provided (Ctrl + V).
7. Click Import (button).
   • If the import is successful, the message "Import successful. BatchID …" appears. Click OK.
   • If the import is unsuccessful, repeat Steps 1 to 6 (see After the Import for the messages).
8. Double-click the transactions one by one to process them (see How to Import a Transaction into the Ledger).

How to Import a Bank File#

1. Export a .ofx or .csv file from your bank.
2. In BOS Professional, navigate to Bank Import (Main Menu > Accounting > Bank Import).
3. Click Menu (button) > Import. If you have more than one bank account, select the relevant Bank Account.
4. Navigate to the file you received from your bank.
5. Select the file and click Open (button).
   • If the import is successful, the message "Import successful. BatchID …" appears. Click OK.
   • The file is renamed "Imported - BatchID … - date - original file name" and moved to an Imported folder next to it.
   • If the import is unsuccessful, repeat Steps 1 to 4 (see After the Import for the messages).
6. Double-click the transactions one by one to process them (see How to Import a Transaction into the Ledger).

How to Import a Transaction into the Ledger#

1. Navigate to Bank Imports.
2. Import your data by copying and pasting it, or by importing a file to create a list of transactions.
3. Double-click a transaction to open it on the right panel:
   1. Any matching records appear directly below the transaction details. Click the matching record to automatically post the current transaction to the same account.
      • Note: The software tries to match the name or reference to existing transactions. If a match is found, it appears under matching records.
      • Note: If it is a recurring transaction, like bank charges, and no matching records exist, click the icon to the right of the description. Clicking the icon creates a matching record for future use.
   2. If a matching record is not found, select an Entry Type in the section below the transaction.
      • Note: The Entry Types vary depending on whether it is a deposit (+) or payment / expense (-).
      • Allocate the entry based on the Entry Type:
        1. Allocating Supplier Payments (see How to Allocate Supplier Payments below).
        2. Allocating Customer Receipts (see How to Allocate Customer Receipts below).
        3. Creating Other Entries: (e.g. Cash Up Surplus, General Income, General Expenses, Payroll - Payment, VAT Payment, Supplier Refund, Customer Refund) (see How to Create General Entries below).
   3. Click Done (button).
   4. The Date is automatically entered from the imported transactions.

How to Process a Supplier Payment from a Bank Import#

1. Perform a Bank Import.
2. If you are posting Supplier Payments to the Ledger:
   1. Double-click the payment on the bank import list of transactions.
   2. Double-click Supplier Payment to select.
   3. Click Actions (button) > Update from Supplier Payment.
   4. The Supplier Payment is matched on the supplier, Bank Account, Date and Amount.

How to Allocate Supplier Payments#

1. Perform a Bank Import.
2. Dr. Supplier = Select the Supplier.
3. Click View (button) to see a list of Outstanding Invoices. 
4. Check the checkboxes next to the Invoices that were paid.
   • Note: If you do not check the checkboxes, the system allocates the Supplier Payment to Invoices automatically.
5. Click Allocate (button).

How to Allocate Customer Receipts#

1. Perform a Bank Import.
2. Cr. Customer = Select the Customer.
3. Click View (button) to see a list of outstanding invoices.
4. Check the checkboxes next to the applicable Invoices.
   • Note: If you do not check the checkboxes, the system allocates the Customer Receipt to Invoices automatically.
5. Click Allocate (button).

How to Create General Entries#

1. Perform a Bank Import.
2. Choose an Account on the left (Ledger) to post the transaction to and complete the necessary fields, including the VAT component.
   1. For Customer Refunds, the account is the customer account.
   2. For Supplier Refunds, the account is the supplier account.
   3. For all other entries select an income, expense or asset account.

VAT on General Entries in South Africa#

• You may claim VAT on some direct expenses, like insurance if the expenses include VAT and you receive a Tax Invoice.
• You may not claim VAT on some direct expenses, like entertainment regardless of whether they include VAT.
• To create a VAT Payment transaction, allocate the payment to the VAT Control Account and select VAT Only under the VAT column.

How to Handle Duplicate Entries#

1. Navigate to the applicable transaction.
2. Click Status (button) and select Cancelled.
   • Note: You can also cancel transactions with a zero balance.

How to Find Imported Entries#

You can find previously imported entries by searching for them.

1. Enter the name of the entry in the Search block.
2. Enter the Batch Number of the transaction in the Search ID block.
   • Note: When you import transactions a Batch Number is automatically assigned.

How to set the Status of Imported Transactions#

You set the Status of individual transactions by processing them.

How to Delete Transactions#

1. Navigate to the applicable transaction.
2. Click Status (button) and select Cancelled.

How to Verify the Bank Import#

1. At the bottom of the list of transactions are three fields:
   • Bank
   • Ledger
   • Variance
2. If the Variance is zero, you have successfully processed all the transactions. The bank matches the ledger.
   • Note: If you are only processing some of the transactions, the variance is not zero. For countries that still use cheques, there may be a variance because of uncleared cheques.