How To Import an OFX file Into Online Accounting System - Xero
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This video shows how to import an OFX file with transactions into the Online Accounting system - Xero. Use the converter app to convert your transaction files to required by your accounting software file format.
00:00 - Xero - Online Accounting System
00:10 - Login into Xero and go to 'Accounting'
00:20 - Select the account to import data into
00:29 - Select an OFX file and how to get it
00:58 - Import an OFX file
01:04 - Review the transactions
01:24 - 'Bank Statements' option
Xero is an Online accounting system and it can import OFX files. To import an OFX 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. And select an OFX file. You can download it from Online banking or if you have different formats, provided by your Bank, let's say PDF format or QIF format, you can use the Bank2OFX converter from ProperSoft and convert that file to the OFX format first and then import it into Xero. Then click 'Import'.
Now your transactions are imported. You have to match them to Vendor records or Payee inside your system. And you have to select expense/income accounts. And then you click 'Add details' to actually add transactions to the register.
Let's say you realized, that it is an incorrect imported OFX file or something wrong with a file, or you don't want those transactions to be here. So, click on 'Bank statements'. Then select all the accounts. And click 'Delete'. So, this way you delete all those transactions you just imported.