Import a Bank Statement in Xero

Before your bank feed kicks in, you'll need to manually import your bank statement history from your conversion date. This ensures no transactions are missing when you start reconciling.

1. Export Your Bank Statement

Log into your online banking and search for transactions from your conversion date up to the date your bank feed starts.

Export the file — the preferred formats are:

• OFX (recommended)
• QIF (recommended)
• CSV (compatible, but requires an extra mapping step)

If you export a CSV, check that:

• Each row has a date and an amount.
• The amount is in a single column (not split into debit and credit columns).
• Money going out is shown as a negative amount; money coming in as a positive amount.

2. Import the File into Xero

1. Go to Accounting and select Bank accounts.
2. On the relevant bank account, click Manage account and select Import a statement.
3. Upload your exported file and click Import.
4. If you uploaded a CSV, use the dropdowns to match each column in your file to the correct Xero field, then click Save.
5. Review the import summary and click OK.

3. Set a Conversion Balance for the Bank Account

After importing, you need to enter the bank account's opening balance:

1. Go to Accounting > Advanced > Conversion balances.
2. Find your bank account and enter the balance at the end of the day before you started using Xero.
3. Enter positive balances in the debit column and overdrawn accounts in the credit column.
4. Click Save.

Understanding the Two Balances

Once set up, Xero shows two balances for each bank account:

• Statement balance — the conversion balance plus all imported statement lines.
• Balance in Xero — the conversion balance plus transactions created during reconciliation.

In a perfect scenario, these two balances will match your online banking exactly.