Import bank statements into Xero

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 CSV or QuickBooks Web Connect file

Xero can import both QuickBooks Web Connect and CSV files. We recommend choosing QuickBooks Web Connect so you don’t have to specify the column mapping (Web Connect files are imported automatically).

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

If you prefer CSV, you can select “Xero CSV”.

Step 5: Import the QuickBooks Web Connect or CSV file into Xero

Xero is an Online accounting system and it can import QuickBooks Web Connect and CSV files.

To import the file, login into Xero. Click on ‘Accounting’ - ‘Bank accounts’.

Then look for the account you want to import your transactions into and click ‘Manage Account’ - ‘Import a statement’.

Click the ‘Browse’ button.

Select the CSV or Web Connect file.

Then click ‘Import’.

Transactions are imported. You have to match them to Vendor records or Payee inside your system. And you have to select expense/income accounts.

Click ‘Add details’ to actually add transactions to the register.

Rollback imported transactions in Xero

To delete the transactions, click on ‘Bank statements’.

Then select all the accounts.

And click ‘Delete’.

Frequently asked questions

Can DocuClipper import PDF bank statements into Xero?

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

Can DocuClipper import credit card statements into Xero?

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

Can DocuClipper import scanned bank statements?

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

Can DocuClipper convert several statements at the same time?

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