How to clear transactions electronically

You can clear transactions electronically if you have a *.qif, *.ofx, *.qbo, Bai.txt, or *.qfx file from your bank. The program marks all matching transactions with a cleared status and reports as exceptions any transactions that do not match. Transactions are matched based on transaction type, transaction date, and transaction amount. Once the program finds all matches, you can reconcile the bank account.

Article Number: 43842

Products:

Accounts_Payable
Accounts_Receivable
Cash_Receipts
Payroll
Student_Billing

In Banks, select the bank in the Select a bank account field.
Click Clear transactions electronically under Cash Management tasks.
Click the ellipses to browse out to the Import file. The compatible file formats are BAI.TXT, .QIF, .OFX, .QFX, .QBO.
Select a Set date cleared to option.

Note: Bank Statement Date is only available when Clearing Transactions Electronically during the Bank Reconciliation process.

Click Clear Transactions Now.

For more information, refer to page 111 of the Banks Guide.

Note: All files must contain line breaks to import successfully.

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