Downloading Bank Statements

For speed and versatility in bank account reconciliation and on-the-fly transaction entry, download your statement online from your bank and save it to wherever you normally save downloaded files on your computer. Then simply click Get Statement while in your Bank Register or in the Reconcile Accounts window, find your statement, and AccountEdge will read it in and automatically match your bank statement transactions against those entered in your company file. AccountEdge will mark all matched transactions as reconciled, saving you the time and trouble.

Note: In order for transactions to be automatically matched, they must meet the following criteria:

• Checks: Check number and Amount must be the same
• Deposits: Amount and Date must be the same
• Other transaction types: Amount and Date must be the same

If the program cannot find a match among the transactions, you have the ability to manually match them, adding new transactions, or skipping them altogether. The program will also mark the new or matched transaction as cleared on your bank reconciliation, making reconciling with your bank a snap.

Note: You cannot edit transactions while in the Match Transaction window. If you need to change any information on your transactions, such as amount, date or the transaction ID number, you must go into the transaction journal, find the transaction and then edit it there.

Warning: If the transaction you are attempting to edit was created in the Pay Bills or Receive Payment window, you will need to either reverse or delete the transaction then re-enter it with the correct information.

Downloading a bank statement maintains AccountEdge's flexibility in that it allows users the versatility to choose their own banks because it accepts the four most popular formats: .OFX, .QFX, .QIF, .OFC and QBO.

When bank web sites indicate a download file format as, QuickBooks Web Connect or Quicken Web Connect, it typically means one of the above-indicated formats. (Sometimes bank web sites do not indicate file extensions.)

Note: While you are able to import the .QIF file format, sometimes a bank's .QIF file can be formatted in a variety of ways: some with line feeds, some with carriage returns, some with carriage returns and line feeds. AccountEdge requires carriage returns in order to determine the end of each record. Therefore, depending on the bank or credit card company you are downloading from, you may get a message saying: No transactions were found in this file.

To get the carriage returns added into the .QIF file, follow the procedures below:

MAC USERS:

On the Mac you can open the .QIF file in Word, then choose Save As from the File menu. It will default to a .txt text file which should work. Once you do the Save As, it will add the necessary carriage returns for you and it will work.

WINDOWS USERS:

In Windows you can open the .QIF file in Word or WordPad, which is in Start > Programs > Accessories (not NotePad). You can just click Save As and it will add the carriage returns and then it will be accepted.

Note: Once you decide to add a transaction that is not appearing in your company file, and Cancel out of the Add Transaction Window, the number of Matched Transactions will still be increased and the transaction will disappear from the Unmatched Statement Transactions. This is not a problem with the software, it is how it was designed.

You Receive the Message: No transactions were found in this file. Only OFX, QFX, OFC and QIF types

• There aren't any transactions in the date range of the statement that was downloaded. Choose a different date range or statement date to solve this problem.
• The file format of the bank file downloaded is not supported. Choose a different file format to download. AccountEdge accepts Quicken and QuickBooks QIF, QFX and QBO files, and Microsoft Money OFX, QIF and OFC (active statement) files.
• The QIF file format from a particular bank that was downloaded is currently not supported. See the note listed above for details about .QIF file formats.
• Your Mac browser didn't create the correct file type when downloading the bank file. Check your browser preferences.