Import & Reconcile a Bank Statement in payPod

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Important Notes

  • Only OFX or CSV files are accepted. PDF Bank statements cannot be imported due to their unstructured nature.
  • OFX (Open Financial Exchange) is a standard file format for exchanging financial information.
  • OFX exports are readily available from major South African banks, including FNB, Capitec, Nedbank, ABSA and more.
  • We recommend using OFX instead of CSV as it reduces the manual effort on your part.
  • payPod will ensure duplicates are not imported when the OFX file contains a unique identifier.

Step 1 - Obtain an export file

You can likely download an OFX export of transactions from your internet banking. Each bank does this slightly differently. For example, FNB only allows the last 3 months, whilst Capitec allows you to select a date range.

If you really need to, you can create a suitable CSV file by following our guide.

Consult your banks website, or look for an "Export" or "Export Transaction" option in your internet banking.

If you bank with FNB, we do have a guide. on how to obtain an OFX file with online banking.

Step 2 - Import the Statement

  1. Navigate to Accounting > Transactions.
  2. Select the correct bank account from the drop-down (important!)
  3. Click the Bank Statement tab.
  4. Now click Import Statement. A pop-up window will open.
  5. Click Choose file and locate your export using the file browser (likely in your downloads folder).
  6. Click Upload & Preview. A paged list of all the transactions will appear.
  7. Review the transactions and select the date range you wish top import. Then click Import Selected Date Range.

The pop-up will display a summary of what was imported. You can then dismiss the pop-up and view the imported items.

You can filter the bank statement item list by date, amount, and status (reconciled/unreconciled/deleted).

Step 3 - Reconcile (select and add payPod transactions)

The next step is to record the bank statement items as transactions in payPod.

Transactions in payPod are the essential accounting records which contain more detailed infromation than what is available from the bank statement. This step is essential.

  1. Navigate to Accounting > Transactions.
  2. Select the correct bank account from the drop-down (important!).
  3. Click the Bank Statement tab. You will now see a list of any unreconciled transactions.
  4. Choose an item to reconcile and click "Reconcile". A pop-up displaying the record and a selection of buttons will appear:
    • Option A: If you have already created the transaction, click Find Existing Transaction.
    • Option B: If you need to add a simple income or expense transaction, click Add Income/Expense.
    • Option C: If you need to create a more advanced transaction, click Add Journal Transaction (requires accounting knowledge).

Option A - Find Existing Transaction

  1. After selecting this option, you will be shown a list of available transactions. You can use the available filters to search for your transaction.
  2. Once you locate your transaction, click Select next to the transaction. Either an income, expense or journal transaction will appear (depending on the individual transaction).
  3. Make any changes (if needed), then click Save. The item will reflect as reconciled.

Note that existing transactions will be fixed to the amount and date reflected on your statement. The original amount of the transaction will be ignored.

Option B - Adding an Income or Expense transaction

  1. After selecting this option, you will be presented with a pop-up to record the transaction details. This follows the same format as the Income/Expense pop-ups on the main transactions list.
  2. Fill in the transaction details (date, description, category etc). Click Save once all details have been filled.

The amount and date fields will be fixed to the values from the statement, and cannot be changed.

Option B - Adding an Journal Transaction

  1. After selecting this option, you will be presented with a pop-up to record the transaction details. This follows the same format as the Journal Entry pop-up on the main transactions list.
  2. Fill in the transaction details. Click Save once all details have been filled.

The date first row on the journal entry will be fixed to the values from the statement, and cannot be changed.