Importing Bank Transactions
Retail Business can import bank transactions from your bank's web pages. All banks have a "transfer", "download" or "export" facility; usually on their "View transactions/balances" web page, or when viewing a transaction report.
When you go to the relevant web page select the following import formats:
For ANZ Bank - - CSV
For ASB Bank - CSV.
For BNZ - GIFT - use the file that ends with .TRN
For WestPac - CSV - select date format dd/mm/yyyy
For Taranaki Savings Bank - CSV
For KiwiBank - CSV
For National Bank (very similar to the ANZ layout) - CSV
Start the import process from either the main menu, or the banking maintenance menu.
Save the bank transaction file to a folder you can find easily. Do not use the temp folder as it is difficult to find using a normal browser. You can place the file in the C:\PSL folder. It is a good idea to use the same file name each time - for example ANZImport.csv, so each import replaces the previous one. Retail Businesse's browser displays files with the TXT, CSV and TRN extensions.
Once the file has been saved start Retail Business if it is not already running. Select the Banking menu, and Import.
The maximum number of transactions that can be imported at any one time is 150.
Before you start - It is not a good idea to create transactions by both importing and manually entering transactions unless you follow the same procedure all the time. For example manually enter all cheques and invoice payments and use the import facility to load cash deposits (EFTPOS, direct credits), withdrawals, fees and interest. In this case remove all cheques/payments from the import list. If deposits are usually for multiple journal entries there is little point in using the import facility because bank transactions can only have one detail line.
If you usually have more that one journal entry for each bank transaction (as is often the case with cheques/payments) it is probably easier to enter all the transactions manually and reconcile to the bank statement on a regular basis.
If almost all of your bank transactions are not detailed the import facility can save time and decrease the chances of error.
When the import form appears make sure the correct bank account displays in the top panel.
Click Get File. This opens a file browsing form. Use this form, or click Browse to open the Windows browser, to find the file. When you have selected a file make sure the File to import is field displays the correct file.
Select the Source Bank from the drop down menu beside the bank account panel. If you do not do this and click "Add" you are warned that you have not selected a bank. If you select the wrong bank the fields do not display correctly and you will get an error message. In that case cancel the current add and get the correct file or switch banks.
Click "Add" to display the highlighted row in the fields on the form. The fields that should display something are:
2 Narrative - this can be changed. If you use a consistent narrative, for example "Insurance", for the relevant transactions Retail Business can find the previous matching entry and set the other fields for you.
4. Ref No.
If these fields do not display what is expected a couple of things could have gone wrong:
1. You have selected the wrong bank from the bank list at the top of the form.
2. You have attempted to display a row that is not a transaction. For example ASB sends across a lot of stuff to help describe the bank account's current situation (it is at the beginning of the file). Scroll down until you have reached an actual transaction line - it should be highlighted. The BNZ sends across balances - you need to ignore those lines.
Warning - if you attempt to import transactions for transactions with a date that overlaps a previous session you will be warned because it is possible you are importing a transaction that has already been imported. Because it is possible you were interrupted during an import session you can proceed with the import by clicking the Yes button.
If you are using Client Invoicing or Supplier Charges click the correct button in the Reason panel. Otherwise leave it as miscellaneous. Depending on the button clicked, a new form displays. Select the invoice or charge the bank transaction relates to. If you get the wrong one, click "Cancel", and then "Add" again. If you have selected an Invoice or charge the next step may not be required. If the transaction is a supplier payment (Cheque), for which you have entered multiple lines, the amount will be allocated to only one ledger account. That is, if the invoice is for $100, and has one line only, the cheque is for $100, the allocation will be correct. If there are multiple lines (for multiple ledger accounts) enter the cheque using the cheque entry form - delete the line in the import form and make a note to create that particular cheque. If you have not already done so. Otherwise leave the selection as Miscellaneous.
Now select the transaction type, source, and Journal code the transaction applies to. This is not required if you follow the practice explained about the narrative above.
You can change the narrative if you want to. Best idea is to leave as it is because that will allow you to match your bank statement with the transaction when you are doing the bank reconciliation. The transaction date and amount fields cannot be changed.
Once you have finished that, click Accept. The newly imported line will be saved, the line removed from the grid and the forms fields cleared.
Note: Each time you import a line the software remembers the narrative, source, type and journal code. The next time you import a line with the same narrative the source, type and journal code are entered automatically. Once you have carried out several imports you should not need to do much more than click the Add and Accept buttons.
Transfers between accounts:
You must import the transaction data from both bank accounts separately to have a complete record of such transfers. The import facility does not operate in the same way as Bank Transactions when it comes to transfers. If a bank account is not being tracked in Retail Business, then only record transactions for those that are. For example if you are transferring "drawings" from your cheque account to a family savings account, import the cheque account data as a withdrawal.