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How to Import Bank Transactions

Importing your banking transactions into Fiskl helps you keep your financial records up-to-date and accurate. This tutorial will guide you through the process of manually importing your bank transactions.

TL;DR - Watch how to create ledger accounts for importing
TL;DR - Watch how import CSV

Overview​

While Fiskl offers automatic bank connections for easy transaction imports, there are situations where you might need to import transactions manually. This tutorial covers:

  1. Understanding money accounts in Fiskl
  2. Types of file formats for importing transactions
  3. Step-by-step guide to importing transactions
  4. Creating bank and credit card ledger accounts
  5. Troubleshooting common import issues

Understanding Money Accounts in Fiskl​

Before we dive into importing transactions, let's clarify what we mean by "money accounts" in Fiskl:

  • Money accounts refer to sub-accounts under "Cash & Cash Equivalents" and "Credit Cards" in your Chart of Accounts.
  • As a business owner, you'll conduct about 90% of your accounting activities in these money accounts.
  • These accounts are where you'll reconcile, edit, or add transactions most frequently.

File Formats for Importing Transactions​

Fiskl supports three file formats for importing bank transactions:

  1. CSV (Comma-Separated Values)

    • Most common format
    • Requires column mapping and date format selection
    • Fiskl provides a utility to simplify the import process

  2. OFX (Open Financial Exchange)

    • Banking standard format
    • Easiest to import; just upload and import

  3. QIF (Quicken Interchange Format)

    • Another popular standard
    • Similar to OFX in ease of use
tip

When possible, use OFX format for the smoothest import experience.

Importing Bank Transactions: Step-by-step Guide​

Follow these general steps to import your bank transactions:

  1. Export your banking data from your bank's website or app
  2. Create a ledger account to import your bank transactions into if you haven't already (see Creating Bank & Credit Card Ledger Accounts)
  3. Select the import function in Fiskl
  4. Choose your exported file
  5. For CSV imports, map the fields as prompted
  6. Review the preview of your import before finalizing
info

Bank transactions require only three essential fields:

  1. Name: Transaction description
  2. Date: Transaction date
  3. Amount: Transaction amount

Importing CSV Files​

CSV imports require more attention due to their flexibility. Here's how to use the CSV import utility:

  1. Select the starting row (usually row 2 if there's a header)
  2. Map the Name column
  3. Map the Amount column (toggle for split debit/credit columns if needed)
  4. Map the Date column and adjust the format if necessary
tip

Click on the column in the preview to select it, instead of typing the column letter.

Watch our interactive demo on importing bank transactions from a CSV file

Importing OFX and QIF Files​

OFX and QIF imports are generally simpler:

  1. Select the OFX or QIF file
  2. Upload the file
  3. Review the preview and confirm the import

If you encounter issues with OFX imports, contact Fiskl support for assistance.

Creating Bank & Credit Card Ledger Accounts​

Before importing transactions, you need to create the appropriate ledger account in Fiskl. Here's how:

Creating a Bank Ledger Account​

  1. Navigate to the Chart of Accounts
  2. Under Assets > Cash and Cash Equivalents, select the plus icon to add a new account
  3. Provide the following information:
    • Name: Choose a descriptive name (can be changed later)
    • Currency: Must match the bank account currency
    • Account type: Select Bank Account
  4. Save the new account

Creating a Credit Card Ledger Account​

  1. Navigate to the Chart of Accounts
  2. Under Liabilities > Credit Cards, select the plus icon to add a new account
  3. Provide the following information:
    • Name: Choose a descriptive name (can be changed later)
    • Currency: Must match the credit card account currency
  4. Save the new account
Watch our interactive demo on creating a bank or credit card ledger account

Troubleshooting Common Import Issues​

If you encounter problems during the import process, try these solutions:

  1. Amount parsing errors: Open the CSV in a spreadsheet application and format the amount column to use two decimal places (e.g., 1000.00). Export as CSV and try again

  2. Date parsing errors: Try different date formats in Fiskl, or reformat the date column in your spreadsheet application before importing. Export as CSV and try again

  3. Missing transactions: If you do not see any transactions after importing it may be that your filters are excluding them. Set the date filter to "All" to ensure transactions aren't being filtered out

  4. Other errors: Contact Fiskl support for further assistance

Remember, as a business owner, your role is to ensure that all transactions from your bank are accurately reflected in your Fiskl ledger accounts. Fiskl then uses this data to generate accurate accounting reports based on the rules for each account type.

tip

While manual imports are useful in certain situations, consider using Fiskl's automatic bank connections for more efficient transaction management.