How tedious is your Bank Reconcilliation ?

Filed Under (QuickBooks) by moirapottow on 03-08-2009

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 We now have a software product that can use a download of your bank statement to import all bank transactions into quickbooks hence not having to enter each transaction individually. eZ Account Import enables you to easily import into QuickBooks. It reads banking transactions from different online banking download file formats such as OFX or QIF. The simple user interface empowers you to: 

  • Review transactions contained in your download file
  • Assign payees and accounts 
  • Post the transactions you select to your QuickBooks bank account

How It Works:
Once you have selected the QuickBooks bank account and the downloaded internet bank statement, transactions from the bank statement display. You select the type of transaction (check, deposit, payment, or bill payment), payee and account to assign the transaction. This is all done via easy-to-use drop-down menus populated by data from your QuickBooks company file. For transactions you want to import as bill payments or customer payments, you may even select the bill or invoice to apply the payments to from a list. No typing is required…just point and click!
To accelerate the import process even more, the eZ Import applications can memorize transactions so that they are pre-populated with payee and account information the next time an internet bank statement is reviewed. This is done with the functionality called Aliases.
To reduce errors and the importation of duplicate transactions, the eZ Import applications display the bank register for the QuickBooks account that is being imported into. Additionally, verification is completed during the scan of the export for any matching transactions between your QuickBooks bank register and the downloaded internet bank statement. If there is match, eZ Import indicates the possible match next to the transaction graphically. In addition, when a “matched” transaction is selected, the corresponding transaction is highlighted in the bank register for comparison.