DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Profit after importing bank statement


#1

Net profit should be Income - Expenses, but I am not getting it right.
Also, the cash at bank shows a wrong value. Please help.


#2

There may be a problem with the Indian currency, go to settings and change the base to nothing or another currency and see if the problem remains. I am sure it becuase of the numbering style of your currency


#3

No it is not the problem with Indian currency , look to be some accounting issue, the expenses cannot be in negative, it has to be a positive value


#4

The problem is with “Receive money”

All the bank statement entries have been imported as “Receive money”. How do I convert expenses as “Spend money”?


#5

So check the accounting behind those balances am sure it will work after


#6

What bank format did you use to import your bank statement?


#7

.csv


#8

Look inside that CSV file. Can you confirm negative amounts in CSV represent money spent and positive amounts money received? Maybe your CSV file had amounts the other way around.


#9

I just have the following columns: Date, Payee, Reference, Description, Amount.
No negative signs anywhere.


#10

Then all those transactions in CSV will be imported as “Receive money” transactions.


#11

Oh. Then, how do I make sure expense come as “Spend” and income come as “Receive”?
Thank you for your help!


#12

Where did you obtain CSV file from? If it’s from bank, then complain to them or switch to different bank. Their CSV export is not correct.