Accounting CS Bank Reconciliation from PDF Bank Statements

Accounting CS cannot read a PDF bank statement, but its Bank Statement Import reads OFX files. Convert the client's PDF statement to OFX, open Actions, Reconcile Bank Accounts, select the Bank Statement Import tab and browse to the file. Accounting CS matches the lines to recorded transactions by type, reference and amount, and you finish the rest by hand.

That is the route for every account bank feeds cannot cover. Thomson Reuters says a newly linked feed retrieves transactions only as far back as the institution allows, which is up to 3 months at most banks. A client who arrives in March with last year's books undone, a card account that never links, or an account the client closed in the summer all leave you with the same thing: a stack of PDF statements. The screen names and rules below come from Thomson Reuters' own Accounting CS help.

Which bank files does Accounting CS import for reconciliation?

The Bank Statement Import tab supports four formats: QIF, QFX (Quicken Web Connect), OFX and BAI2. It does not read PDF, CSV or Excel files. A PDF statement has to become one of those four before Accounting CS can use it, and OFX is the one a converter can produce from any bank's layout.

Our converter writes OFX, CSV and Excel. Choose OFX for Accounting CS. The PDF to OFX converter handles digital statements, and the scanned bank statement to OFX route reads paper copies and phone photos with OCR, which matters for the client who brings a folder instead of a download.

How to reconcile Accounting CS from a PDF bank statement

The steps assume the client's transactions are already entered, either from a write-up source document or through Bank Feeds. The import proves them against the statement.

1. Upload the client's PDF statement in the box at the top of this page and export OFX. Scanned and photographed statements convert too.
2. Compare the row count and the totals with the printed statement. A missed page is far easier to catch here than in the unmatched list later.
3. In Accounting CS, choose Actions, Reconcile Bank Accounts, pick the client and the bank account, and open the Bank Statement Import tab.
4. Select Browse, go to the OFX file and import it. Accounting CS matches each statement line to recorded transactions by type, reference and amount.
5. Match the leftovers by hand. For bank fees, interest and other items that are not on the books, check the Adjustment column and choose the GL account.
6. Choose Post Adjustments, Finish Later or Finalize, then complete the reconciliation for that statement date.

For a catch-up engagement, convert and import the statements in order, oldest first, and finish each month before importing the next. Each OFX file covers one statement, so the unmatched list stays readable and a problem in March does not hide inside a twelve month file.

Why imported transactions land on the period end date

This surprises people the first time. When you import through the Bank Statement Import tab, Accounting CS uses the posting period end date as the posting date for the imported transactions. Thomson Reuters gives the example of a transaction dated 9/17 importing with a 9/30 posting date for a client on calendar month periods. That is normal behavior, not a conversion error, and it is why each file should cover a single statement period. The original bank date stays in the OFX file, so you can still see when each item cleared.

Working the unmatched list

On a clean operating account most lines match on the first pass. What is left is usually one of a few familiar cases. Note that new unmatched lines are appended to the outstanding unmatched lines from earlier imports, so clear the list as you go rather than letting it build up across months.

One detail of our OFX is worth knowing before the first import. The check number stays in the transaction description rather than in a separate check number tag, so a check whose match depends on the reference may land in the unmatched list. Read the number from the description and match it by hand. Each line also carries a stable transaction ID, so converting the same statement twice produces the same IDs.

Using a converted statement to create the transactions

Sometimes the statement is the only record and nothing has been entered yet. In that case the Bank Feeds dashboard is the better door. Its Import Statement File button reads a downloaded statement file into the Retrieved Transactions grid, where you can set the reference, description, type, vendor and GL account, and apply rules before you approve. Approved lines become available on the Enter Transactions and Reconcile Bank Accounts screens. Try it with one converted OFX file first and check the grid, since Thomson Reuters does not list the file types that button accepts.

Who this saves the most time for

Accounting CS is built for CPA firms that do client write-up, payroll and financial statements. The firms that feel the PDF problem most are the ones taking on new write-up clients mid-year, cleaning up a prior bookkeeper's work, or preparing a reviewed or compiled statement where every month has to tie. A 400 line card statement keyed by hand takes most of an hour and introduces typos you later chase as reconciliation differences. Converting it takes a couple of minutes.

Firms that want statement matching outside the ledger, across many client accounts at once, can also look at a dedicated bank reconciliation software that works from any statement. For the Accounting CS reconciliation itself, the OFX import above is the shortest path.

What it costs

Converting is the only paid step. OFXStatement Starter is $49 a month, or $24.50 a month billed yearly, for 2,500 pages. A year of statements for one client is usually 50 to 100 pages, so one Starter month covers a season of catch-up for a small practice. Plus is $149 a month for 10,000 pages and adds bulk upload of 50 files at once, which suits firms that collect statements in batches. You can test 15 pages with no credit card. The statement converter for CPA firms page covers the audit and review side of the same work.

Accounting CS bank reconciliation questions

Can Accounting CS import a PDF bank statement?

No. The Bank Statement Import tab on the Reconcile Bank Accounts screen reads QIF, QFX, OFX and BAI2 files. Convert the PDF statement to OFX first, then import it on that tab and Accounting CS matches the lines to the recorded transactions.

How does Accounting CS match imported bank transactions?

By type, reference and amount. Lines that match are cleared automatically. Lines that do not can be matched by hand, or marked in the Adjustment column with a GL account and posted as adjustments.

How far back do Accounting CS bank feeds go?

For a newly linked account, Accounting CS retrieves transactions as far back as the bank allows, which Thomson Reuters puts at up to 3 months for most institutions. Older months are reconciled from statements.

Why did my imported transactions post on the last day of the month?

Accounting CS uses the posting period end date as the posting date for transactions imported through the Bank Statement Import tab. A 9/17 transaction posts on 9/30 for a client with calendar month periods. Import one statement period per file.

Firms that keep client books in Drake instead face a CSV-only import; see Drake Accounting bank reconciliation import from PDF statements. For older cleanup work across any ledger, the bookkeeping cleanup converter explains how to batch a backlog.