I have a fairly new business and run quickfile myself. Since starting up, I have been inputting every transaction in and out of my business bank account myself without connecting my bank feed. Is this okay to do, as I don’t want to have issues when doing accounts at the end of the financial year? I haven’t tried it yet, but will uploading statements on quickfile literally do just that? - I don’t want my transactions to be duplicated like they were when I connected and refreshed my bank feed back some months out of curiosity lol
That’s perfectly fine. As long as the bank balance according to the bank and the bank balance according to QuickFile agree at the end of each day then whether those transactions came from a feed, a CSV upload, or manually entering transactions and logging payments is immaterial.
I used QuickFile in my business for six years and never bothered with a bank feed, just spent five minutes each morning entering the previous day’s transactions (never more than half a dozen or so - it was a retail shop so the sales income came in as a lump sum each day, I didn’t have to track lots of small payments from lots of different customers).
Hi Madani_Wholesale
I find the following method works very well for me. I download my recent banking transactions to a csv file and then import into Quickfile by going to the bank account screen, choosing upload bank statements and choosing other rather than my actual bank. Then I can upload the data without manually typing everything out.
I am very used to using excel so I use a function called concatenate to put all the description data from different columns from my bank download into one description field and also add in a consequetive line number in brackets to make each entry easy to trace back to my original bank download data. On the final banking transaction for each month I also add in to the description line the actal bank statement balance at that point. This means I can easily check that my banking records are OK by seeing that the monthly balance calculated by QF agreed to the typed in total.
If you have a lot of banking transations I would suggest downloading your banking records to excel and use this data to create a very simple cashbook record of your banking in excel. Then copy the data you want to import to QF from this record to an individual csv file. This system really lends its self to including a line item reference number and (if you have excel skills) using lookup lists can also let you easily add the QF category to the description before you import the data. This then allows you to use the QF search feature to search for untagged banking records with the same category and tag as a batch rather than individually.