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Monthly Import Bank Statement …
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Last modified on 2/3/2016 8:09 AM by User.

Monthly Import Bank Statement Data Procedure

In Summary, the monthly import process is as follows:-

  1. Download & Save the Bank Statement Data in CSV format
  2. Import into Insight
  3. Update the Debit Entries (Invoice Date, Department, Cost Centre) from the Summary Screen
  4. Update the Credit Entries (Sales / Non Sales) from the Monthly Sales Summary screen - See Monthly Sales Summary
  5. If you haven't already done so, enter the monthly sales figures

Here are the detailed steps:-

1. Ensure that you have setup the correct file format in Tools -> Advanced Settings

2.  If you want Insight to intelligently and automatically assign transactions to suppliers / customers based on the information in the reference fields, please set these up as shown in Bank Statement Import Organisation Mapping Patterns

3. Logon on to your online banking and download and save the monthly statement in a  .CSV format. The Bank website might also know this as EXCEL CSV format.

4. From the Data Entry menu, click on "Import Bank Statement Data"

5. Click on Select file and select the location where the bank statement CSV file was saved in step 2

6. If you want to set the Invoice Date for all payments to the same as the Payment Date from the bank statement data, tick the "Set Invoice Date to Payment Date" box.  The default setting is not ticked and this will import the data with a blank invoice date. 

7. Click on Next to continue

8. The Bank statement data will be displayed. Review and click Finish to complete the import

 

9. The system will not allow you to import transactions before the VAT Locked Date as this will impact on the submitted VAT returns .

10. The system will check to ensure that no duplicates are being imported. If it recognises a duplicate (based on date, value and reference) it will pop up the following warning

Select Yes to ignore the warning and import this entry

Select Yes to All to ignore all warning from now on and import this and all duplicates

Select No to reject this entry (it will not be imported)

Select No to reject all duplicate entries

Select Cancel to Abort the import process. Any entries prior to this warning will have been imported

 

11.  The system will import the following information

  • All Credits
  • All Non-Cheque Debits. These will have been input when the cheque was issued, and to import again would create duplicate entries

12. The Debit information that has been imported will be shown on the summary screen . The Credit information is discussed in point 14.  below 

You should review each entry and provide the missing information (Invoice Date, Department, Cost Centre) by clicking on each entry in turn.  The will bring up the screen to allow to you enter the missing information

 

 

13. Once you have reviewed and provided the missing information, click the Complete Batch button in the toolbar of the summary screen.

If you don't have any additional information at this stage (eg. Invoice Date), you can complete the batch now and update the information later. Any entries without an Invoice Date will be displayed in the "No Invoice Date" tab in the summary screen or you can use the search to locate them again.

14. The Credit Information that is imported is displayed in the "Monthly Sales Summary" Screen.

 

15. Most the credit entries should already be in the system as they will be included int he Monthly Sales figure at bottom of the page. You should input the total Gross sales and the VAT for the month. The other figures (total receipt, Sales Excl VAT will be calculated)

16. Any non-sales entries that have been imported can be allocated by clicking the entry (as shown in point 11 above).

When clicked, the system will show the following form to allow you to update it as a Sales or Non Sales entry. Click on the Add button to add the imported credit entry as an income entry into the system.