There are two steps to the Bank Statement Import process. 

 

In step one you choose a unique element of the transaction so that MyFundAccounting.Online can recognise that transaction each time it appears on an imported bank statement. 

 

In step two you provide MyFundAccounting.Online with the nominal account code, fund, reference, and description for the transaction. 

 

For ‘Single Amount’ statements you will also need to assign income or expenditure to each transaction to show whether money is coming into or going out of the bank.  Use the ‘Money In and Money Out Templates’ section for guidance on importing transactions for templates created using the ‘Money in/Money Out’ option and the ‘Single Amount Template’ section for templates created using ‘Single Amount option

Money In and Money Out Template

  1. The ‘Map to Column’ determines the column that is used to locate the keyword that will be used to identify a mapped transaction. You can use any of the columns included within your template. We recommend using the Description Column.

 

Select the relevant column from the ‘Map to Column’ dropdown box. 

 

Please note the re-order transaction checkbox, under the Bank Statement Template Box, can be ticked if your Bank Statement in MyFundAccounting.Online does not appear in the same order as your Bank Statement.

 

  1. In the ‘Enter Keyword’ box enter the description or part of the description from the column selected. The Keywords should be unique.  You can copy and paste the information into the keyword box by highlighting the part of the description i.e. the companies/person’s name and press ‘Ctrl + C’ and the Ctrl + V in the ‘Enter Keyword’ box.

 

  1. Place a ‘Tick’ in the checkbox located in the ‘Confirm’ column next to the transaction to include the transaction in the import. If you want to include the all the transactions within the Bank Statement, place a tick in the checkbox under the ‘Confirm’ box. If you want to import specific transactions, place a tick in the checkbox next to each transaction you wish to include. 

  1. Repeat Steps 1 to 3 until you have reached the end of your bank statement. 
  2. Press ‘Next’.
  3. Select the relevant Bank Account from the ‘Select Bank/Cash Account’ dropdown. The ‘Use Memorized description’ checkbox can be used to replace the information within the description box with the description saved from mapped transactions.

  1. You can now assign the nominal account and fund reference to each transaction. Select the relevant nominal account code and fund. If the transaction is split between more than one nominal account code and/or fund, please move onto step 8. If the transaction is for one nominal account code and/or fund, please move onto step 9. 

  1. Press the Green ‘Add’ button, see image below, to add another element to the transaction. This will allow you to select another nominal account code and/or fund to the transaction. 

You will see another box appear. You will then need to select the relevant nominal account code and fund. You will need to amend the amount, as well.

  1. Repeat step 7 until you reach the end of the transactions.
  2. Press ‘Import Transactions’.
  3. If you wish to generate a report of the transactions that have been imported press ‘Yes’. If not press ‘No’.

 

Single Amount Bank Template

  1. You can use the ‘Amount Type’ column to assign whether a transaction is income or expenditure transaction. For income transactions select ‘Money In’ from the dropdown box and for expenditure transactions select ‘Money Out’ from the dropdown box.   
  2. The ‘Map to Column’ determines the column that is used to locate the keyword that will be used to identify a mapped transaction. You can use any of the columns included within your template. We recommend using the Description Column.

 

Select the relevant column from the ‘Map to Column’ dropdown box.

 

Please note the re-order transaction checkbox, under the Bank Statement Template Box, can be ticked if your Bank Statement in MyFundAccounting.Online does not appear in the same order as your Bank Statement.

  1. In the ‘Enter Keyword’ box enter the description or part of the description from the column selected. The Keywords should be unique.  You can copy and paste the information into the keyword box by highlighting the part of the description i.e. the companies/person’s name and press ‘Ctrl + C’ and the Ctrl + V in the ‘Enter Keyword’ box. 
  2. Place a ‘Tick’ in the checkbox located in the ‘Confirm’ column next to the transaction to include the transaction in the import. If you want to import specific transactions, place a tick in the checkbox next to each transaction you wish to include. 
  3. Repeat Step 1 to 4 until you have reached the end of your bank statement.
  4. Press ‘Next’.
  5. Select the relevant Bank Account from the ‘Select Bank/Cash Account’ dropdown. The ‘Use Memorized description’ checkbox can be used to replace the information within the description box with the description saved from mapped transactions.
     

  1. You can now assign the nominal account and fund reference to each transaction. Select the relevant nominal account code and fund. If the transaction is split between more than one nominal account code and/or fund, please move onto step 10. If the transaction is for one nominal account code and/or fund, please move onto step 9. 

  1. Press the Green ‘Add’ button, see image below, to add another element to the transaction. This will allow you to select another nominal account code and/or fund to the transaction. 

You will see another box appear. You will then need to select the relevant nominal account code and fund. You will need to amend the amount, as well.

  1. Repeat step 8 until you reach the end of the transactions.
  2. Press ‘Import Transactions’.
  1. If you wish to generate a report of the transactions that have been imported press ‘Yes’. If not press ‘No’.

 

You can go to ‘List Transactions’ to see the transactions that have been imported from the Bank Statement.

 

Please note you are unable import the following transaction via the import from a Bank Statement screen

  • Transfers between Bank Accounts. You can enter these via Transactions > Transaction Assistant > Account/Fund Transfers > Bank and Fund Transfers.
  • Agency Collection Transactions. You can enter these via Transactions > Record Income or Transactions > Record Expenditure.
  • Transactions where a negative amount will be recorded against an income or expenditure nominal account code. You can enter these via Transactions > Journal Entry.