Statement import is a powerful feature which allows you to upload your Excel bank statements directly into Pearl. Once the statement is imported, each entry can be matched with an existing accounts transaction, or used to create a new accounts transaction straight from the import screen with a couple of clicks.

Follow these steps;

1. Log on to your online banking and export a statement. It needs to be in Microsoft Excel format (xls).
2. Save this statement to your computer and open it.
3. Reformat so that the first column is the date, the second column is the reference and the third column is the amount, with a positive value as a bank deposit and a negative value is a bank withdrawal.
4. Save the statement.
5. Log in to Pearl and visit the bank accounts list. 
6. Click the "statement import" link for the relevant bank account
7. Browse to your file and upload it.
8. Click "match transactions"
9. Click an entry on the left to match with possible transactions on the right

Once the statement is imported you click the "match transactions" link, which will show all unmatched entry on the left of the screen. When you click on an entry, Pearl will search the database for any unmatched transactions for the same amount. If there are already accounting entries in the system for this amount, they are given a score depending on the likelihood of them being the transaction that relates to the statement entry. At the bottom of the possible matches you are given the option to create a new bank transaction, using the reference and date as per the imported statement.

Duplicate entries

Pearl will check the database for possible duplicates: the import process will ignore entries that have already been uploaded. Duplicates are matched using the same reference with the same amount on the same day. If in fact there are two genuine entries on the same day for the same amount with the same reference, you will need to edit your Excel import so that the references are not the same, otherwise Pearl will only import one of the two.

Scoring

To score possible matches, Pearl checks the statement entry with the transactions already entered into the system, using the date and the reference along with the customer/supplier name and code if relevant. If you find that a customer is paying you by BACS with a reference "LLBS 001", where the company name in Pearl is set as "London Light Bulb Sales", you can enter the LLBS code into the contact data to increase the score.

Which transactions are searched for matches?

If you are importing a statement for the primary bank account (which is usually code 1200), Pearl will check for existing, umatched transactions on that account, as well as checking against all outstanding supplier and customer invoices.

What are the limitations?

If multiple Sales Invoices are cleared in one payment, the combined total on the statement entry will not match any existing transaction in Pearl. In this case you will need to manually allocate a sales receipt against the multiple invoices, and this payment can then be matched against the statement.

Correcting mis-matches

If you match an entry by mistake, you can un-match it using the Accounts->Search screen. List the activity for the relevant bank account for the relevant time period. All matched transactions will be shown with a small green tick icon on the right of the page. Clicking this tick icon will unmatch the transaction and it will reappear in the list to be matched on the matching screens.

Deleting imported entries

You can delete an imported entry using the match screens by clicking the cross icon on the relevant statement entry.

What if I have transactions on my bank account that do not match a statement entry?

If the transaction has not been reconciled against the bank account or for a VAT return, then you can zero the transaction and change the bank account nominal code to the suspense account to move it out of the way. This is done in the transaction correction screen (click a transaction ID on the left hand side of the Accounts->Search screen).

If the transaction can not be zeroed, and it should not be on the activity for that bank account, then we suggest that you create an equal and opposite transaction on the same date. These two transactions can then be matched as "void" by clicking the red exclamation icon. A void transaction is marked with a blue exclamation icon.