Bank Import & Allocations Tutorial

How to Choose an Import Option

1. If the person importing the data has access to look for files on the organisation's server, choose to import a bank file.

2. If the person importing the data does not have access to the server, choose to copy and paste the data.

How to Prepare Your Data for Import

1. Export the data from your bank in .ofx (preferable) or .csv format and save the file in a location you have access to.

   • Note: You do not need to change anything, you can import the file exactly as your bank generates it.

How to Copy and Paste Bank Data on Import

1. Export a .ofx or .csv file from your bank.

2. Open the .ofx or .csv file you received from your bank using a text reader (e.g. Notepad).

3. Select all the text in your text reader (Ctrl+A) and copy it (Ctrl+C).

4. In BOS Enterprise, navigate to Main Menu > Accounting > Banking.

5. Click on Menu (button) > Import.

   • Note: If you have multiple Bank Accounts, a submenu allows you to select the bank account that is being imported. 

6. Paste your text in the block provided (Ctrl+V).

7. Click Import (button).

   • If the import is successful, a popup displays the Batch ID.  Click OK (button).

   • If the import is unsuccessful, start over from Step 2.

8. Double click the transactions one-by-one to process them – see explanations below.

   • Note: When a transaction is linked to a Bank Transaction, the Date on the Ledger Transaction cannot be updated. 

   • Note: A warning is displayed when a duplicate transaction is viewed (i.e. if the Date, Amount, and Description are the same as another transaction). 

How to Import a Bank File

1. Export a .ofx or .csv file from your bank.​ 

2. In BOS Enterprise, navigate to Main Menu > Accounting > Banking.

   • Note: If you have multiple Bank Accounts, a submenu allows you to select the bank account that is being imported. 

3. Click on Menu (button) > Import > Select the File Type: Choose either .ofx or .csv. 

4. Navigate to the file you received from your bank.

5. Click Import (button).

   • If the import is successful, a popup displays the Batch ID. Click OK (button).

   • If the import is unsuccessful, start over from Step 2.

   • After the file has been imported, it is renamed by adding the Batch ID and the Date to the filename and moved to the Imported folder.

6. Double click the transactions one-by-one to process them – see explanations below.

   • Note: When a transaction is linked to a Bank Transaction, the Date on the Ledger Transaction cannot be updated. 

   • Note: A warning is displayed when a duplicate transaction is viewed (i.e. if the Date, Amount, and Description are the same as another transaction). 

How to Import a Transaction into the Ledger

1. Import your data by copying and pasting it, or by importing a file to create a list of transactions (see above).

2. Double-click to open a transaction:

   • The transaction opens with the transaction details on the right panel.

   • If there are matching records they are displayed directly below the transaction details. Click the matching record to automatically post the current transaction to the same account.

     • Note: BOS Enterprise tries to match the name or reference to existing transactions. If a match is found, it appears under matching records.

     • Note: If it is a recurring transaction, like bank charges, and there are no matching records, click on the icon to the right of the description to create a matching record for future use.

   • If a matching record is not found, select a Transaction Type in the section below the transaction.

     • Note: The Transaction Types vary depending on whether the transaction is a deposit (+) or payment / expense (-).

   • Double-click to allocate the entry based on the Transaction Type:

     • Allocate Supplier Payments (see below).

     • Allocate Customer Receipts (see below).

     • Create other entries (see below) (e.g. Cash Up Surplus, General Income, General Expenses, Payroll - Payment, VAT Payment, Supplier Refund, Customer Refund).

   • Click Done (button).

3. The Date is automatically entered from the imported transactions.

How to Process a Supplier Payment from a Bank Import

1. Import the Bank account.

2. Post a Supplier Payments to the Ledger:

   1. Double-click the payment on the imported list of transactions.

   2. Select Supplier Payment as the transaction type.

   3. Click Actions (button) > Update Supplier Payment.

3. The Supplier Payment is matched on the Supplier, Bank Account, Date and Amount and an entry is automatically created.

How to Allocate Supplier Payments

1. Select a Supplier on the dropdown list next to Dr. Supplier.

2. Click View (button) to see a list of Outstanding Invoices. 

3. Check the boxes next to the applicable Invoices.

   • Note: You can also allow BOS Enterprise to automatically allocate the Supplier Payment to Invoices.

4. Click Allocate (button).

How to Allocate Customer Receipts

1. Select a Customer on the dropdown list next to Cr. Customer.

2. Click View (button) to see a list of Outstanding Invoices. 

3. Check the boxes next to the applicable Invoices.

   • Note: You can also allow BOS Enterprise to automatically allocate the Customer Receipt to Invoices.

4. Click Allocate (button).

How to Create General Entries

1. Choose an Account on the left (Ledger) to post the transaction to and complete the necessary fields, including the VAT component. 

2. For Customer Refunds, the account is the Customer account.

3. For Supplier Refunds, the account is the Supplier account.

4. For all other entries select an Income, Expense, or Asset account.

ℹ️ It is important to enter the VAT correctly when processing general entries. Here are some guidelines applicable to South Africa only:

 - You may claim VAT on certain direct Expenses (e.g. insurance).

 - You may not claim VAT on certain direct Expenses (e.g. entertainment).

 - To enter a VAT Payment or Refund allocate the payment to the VAT Control Account and select VAT Only under the VAT column. 

How to Handle Duplicate Entries

1. Click a transaction to open it.

2. Click Status (button) and select Cancelled.

   • Note: You can also cancel transactions with a zero balance.

How to Find Imported Entries

1. You can find previously imported entries by searching for them.

2. Type the name of the entry in the Search block.

3. Type the Batch Number of the transaction in the Search ID block.

   • Note: When you import bank statements a Batch Number is automatically assigned. 

How to Set the Status of Imported Transactions

1. You set the Status of individual transactions by processing them: 

   • Note: When transactions are first imported, their Statuses are automatically set to Pending.

   • Note: The colour shown on the ID changes as you process transactions to indicate a change in Status.

How to Change Multiple Transactions

1. Click Menu (button) > Batch Updates and select an option from the dropdown list.

   1. 1. Status: Change the status of selected transactions (e.g. to Complete or Cancelled).

         1. Select a new Status from the dropdown list.

         2. Click Update (button).

      2. Delete: Deletes transactions with a Pending or Cancelled status.

How to Cancel Transactions

1. Click on a transaction to open it.

2. Click Status (button) and select Cancelled.

How to Verify the Bank Import

1. When a Batch ID is entered, there are three fields at the bottom of the list of transactions:

   • Bank account

   • Ledger Account

   • Variance

2. If the Variance is zero, you have successfully processed all the transactions. The Bank should match the Ledger.​

   • Note: If you are only processing some of the transactions, the variance will not be zero. For countries that still use cheques, there may be a variance because of uncleared cheques.

Related Topics

• Reference: Bank Import

• Reference: Bank Reconciliation

• Tutorials: Ledger Management