This article is part of our FAQ series. It's designed to help you feel comfortable with accounting basics.
Your accountant or bookkeeper will occasionally ask for the transaction history from your bank or credit card account. This is a list of deposits and withdrawals from your bank account. You can export this information from your internet banking records.
Here's why we ask for this information and how to find it.
When we set up your cloud accounting software, we set up bank feeds. These let you automatically import bank transactions into QuickBooks Online or Xero.
However, occasionally we can't get the necessary transaction history from the feed. When this happens we will ask you export transactions from your bank account. For instance:
- When you have used your bank account for a few weeks or months before the feed is connected.
- When your bank or credit card account does not allow feeds.
Here's what to do when we ask you for an export of your transaction history.
First, log on to your intenet banking.
- Find the place from which you can export transactions. Be patient! Each bank is set up differently, but it's there somewhere.
- Export the transaction history for the time period we have requested. We need the information as an Excel file or in CSV format.
- Send the file to us via email or put it in the Dropbox folder we have shared with you.
Here are links to instructions from the main banks in Australia.
Commonwealth Bank https://www.commbank.com.au/support/faqs/555.html
Bank of Queensland https://www.boq.com.au/EIBHelp/TL03Help.htm