The feature of “Manual Upload of Bank statement” in Reckon is useful and a time saver

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  • Updated 1 year ago

I did not knew that manual upload of Bank Statement in Reckon is actually possible until my book-keeper advised me to try it. I first opened my “Bank website”, downloaded my Bank Statement onto my local PC in a “QIF file” format (not PDF file document that I was doing earlier) and uploaded the QIF file (.QIF) into Reckon Enterprise and guess what my bank transactions began showing up in reckon. In “manual upload method” firstly there is no time limit attached as to when you want to reconcile after you have uploaded “QIF file” Bank Statement in reckon, as compared to “Direct Bank Data Feed” in which you must reconcile all imported transactions then and there, else you end up losing all your un-reconciled transactions (if you exit from reckon for some reason without reconciling all of them). This feature worked well with my Reckon Hosted too. This feature gave me the ease of working at my own pace saving me loads of time.

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Callum

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  • Thankful

Posted 1 year ago

  • 9
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Kevin Russell, Accredited Partner

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Callum I am delighted you worked this out on your own. I think it is a wonderful time saver. I use it all the time. So much easier than manually entering data with the chance tgings could be entered incorrectly. Its a fantastic aid to productivity. Keep up the great work Kevin t:0407744914
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Lee

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I wonder if this works also for Reckon Hosted?
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John G, Information Support Analyst

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Hi Callum,

Welcome to the Reckon Community  

I'm glad you have found one of the many useful and time-saving feature in Reckon Accounts.


regards,
John
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John G, Information Support Analyst

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Hi Lee,

Yes, you can use Import Bank Statements on Hosted.  After you download the QIF file from your bank to your local PC, use the Hosted floating toolbar to upload the QIF file to your Q drive.

regards,
John
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Lee

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Thanks John :)
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Kevin Russell, Accredited Partner

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It has worked for decades yes
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Mike Speer

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Hi Callum,

Earlier I was also using direct ‘Bank Data’ Feed to import my Bank Statement into reckon enterprise before I shifted to “manual upload” method. Last year I imported my Bank Statement for Nov-2016 into reckon. My Bank Statement had a total of 32 transactions and I could reconcile only 22 of them before I exited from reckon to leave for the day. The next day when I opened reckon software I could no longer see those remaining un-reconciled 10 transactions and I had to import them again. After importing the remaining 10 transactions, I could see that my ‘Data Feed’ plan limit has been exhausted by 10 transactions for the second time. It translates to that I had to pay twice for importing 10 transactions simply because I could not reconcile all my imported transactions in one go. I shifted to “manual upload” method that has no time limit with no cost attached to it. Yes, that’s true It works fine with hosted and the only difference is that QIF file has to be uploaded into Q drive (cloud) and we import this into our company file from Q drive rather than our local PC.