Import bank statements into QuickBooks Desktop

Importing bank statement transactions is straightforward when you set up bank feeds on your accounting software or if you can download a file directly from the bank’s website.

However, sometimes you need to import old transactions from a few years ago or maybe you only have PDF or scanned copies of the statements.

As a busy professional, you don’t have the time to manually enter all this information. Thankfully, there’s a better way. You can use DocuClipper to automatically import the bank statements into Excel or your accounting softare.

Step 1 Select the statements

Click on “Bank and credit card statements”.

Drag and drop one or more statements. DocuClipper works with any text or scanned bank statement. It uses Optical character recognition technology to be able to read scanned statements. You can process multiple statements at the same time.

Click on convert.

Step 2: Transactions are extracted automatically

DocuClipper extracts all the transactions from the bank statement and other data like balances, dates, account numbers, etc.

Step 3: Reconcile the statements

DocuClipper compares transaction totals to summary information on the statement. If everything checks out, the statement is identified as reconciled, saving you time and manual review. You can see the reconciliation status on the summary table (top right of the page).

Here’s a video showing how to reconcile the statements:

Step 4: Download a Web Connect Web Connect file

Click on “Download Data”. Select QuickBooks Web Connect. Select the bank. Select if the statement is from a bank account or credit card. Optionally enter the routing, account numbers, and currency. Click on “Download QuickBooks Web Connect” and the Web Connect file will be downloaded to your computer

Step 5: Import the Web Connect file into QuickBooks Desktop

Once you have the Web Connect file follow these steps to import the transactions into QuickBooks Desktop.

Before importing, make sure that the account you need to import into doesn’t have the yellow strike icon. Click ‘Lists’ - ‘Charts of Accounts’.

If you have the icon, it means the account is online linked to direct download. You need to disconnect first to import a Web Connect file.

To disconnect, right-click - ‘Edit Account’.

Then click on ‘Bank Feed Settings’ and ‘Deactivate All Online Services’ first if needed. Check there is no yellow icon after the change. After disconnecting the account from online services, you can import a Web Connect file.

To import a Web Connect file, select ‘File’ - ‘Utilities’ - ‘Import’ - ‘Web Connect Files’, select created Web Connect file.

And select an existing account to import transactions. Check bank label, Account Type, Account number to select the correct Account in QuickBooks. Then click the ‘Continue’ button.

Now your data is imported.

Click on ‘Transaction List’ to review transactions. Assign Vendor Records and expense/income accounts before adding transactions to the register.

‘Downloaded as’ column shows Payee names from the Web Connect file. And the ‘Payee’ column is empty. It shows Vendor Records. When you choose a Vendor Record, for the Payee from the Web Connect file, QuickBooks will remember your choice for the next QuickBooks Web Connect import.

Click ‘Show Bank Memo’ to see the description to the ‘Bank Memo’ column.

Once Vendor Records and Account are set, you can add transactions to the register. The rename rule creation dialog will show up after to use for the next time.

Handling import errors

Unable to verify the financial institution

If you get the error “QuickBooks is unable to verify the Financial Institution information for this download” you need to select another “Bank” when downloding the file:

• If the bank has multiple entries, select the one that says “WebConnect”.
• If the bank isn’t listed, you can select any other bank like “Wells Fargo” and the transactions will get imported correctly into QuickBooks Desktop.

When importing, QuickBooks doesn’t show an existing account

When importing, if QuickBooks doesn’t show an existing account, make sure you enter the right Routing and Account numbers when downloading the Web Connect file:

Here’s a video version of this tutorial:

Frequently asked questions

Can DocuClipper import PDF bank statements into QuickBooks Desktop?

Yes, DocuClipper can import digital and scanned statements from any bank into QuickBooks Desktop.

Can DocuClipper import credit card statements into QuickBooks Desktop?

Yes, DocuClipper can import any bank or credit card statement into QuickBooks Desktop.

Can DocuClipper import scanned bank statements?

Yes, DocuClipper uses Optical Character Recognition (OCR) technology to import any scanned bank statement into QuickBooks Desktop.

Can DocuClipper convert several statements at the same time?

Yes, DocuClipper can convert as many statements as you want in a single job.