Using statements downloaded from the Internet

Month-end Procedures Overview > Using statements downloaded from the Internet to reconcile checking accounts

You can download bank or credit card statement files from the Internet to your computer and MYOB AccountEdge will automatically match transactions from the statement file to those within your company file.

The file formats that are supported by MYOB AccountEdge for automatic matching are: OFX, OFC, QFX, QIF. Contact your bank or credit card company to receive instructions for the actual downloading procedures.

Once the transaction match takes place, that transaction is marked as cleared in the Reconcile Accounts window.

If no match is made of a statement transaction to a transaction in your company file the statement transaction remains on the list that appears in the Unmatched Statement Transactions window. You can select an unmatched transaction in this window and either:

  • Match the statement transaction to a previously recorded transaction in your company file. The transaction is then marked as cleared in the Reconcile Accounts window.

    -- OR --

  • Add the statement transaction to your company file. It will then appear in the list of transactions in the Reconcile Accounts window.

Warning: Add or match every unmatched transaction in a single session!

 We recommend you finish adding or matching every transaction in the unmatched transaction list before you click the Done button. When you click Done, the transactions you added or matched in the Unmatched Statement Transactions window are updated in the Reconcile Accounts and Bank Register windows. However, if you open the Statement file again, the original unmatched statements list reappears.

Click below for the step-by-step procedure:

To match an unmatched statement transaction with an uncleared recorded transaction

Month-end Procedures Overview - Using statements downloaded from the Internet to reconcile checking accounts