How to download bank transactions for your business so you can analyse these for your accountant.

This slideshare is a series of steps you need to take to get your accounts in order for your accountant. We are confident that if you

do this you will cut your accountancy bill next year by up to 50%.

These steps apply to a co-operative bank account but are transferrable to other business bank accounts

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Step 1: We need to obtain the bank balance for the beginning of the month we are analysing.

We are analysing January transactions, so we need to select the dates for the prior day. Why? Well a bank balance is always shown as the end of day balance. So the balance we see on the 31.12.2015 is the end of day balance for that day, or to put it another way, the beginning balance for the 01.01.2016.

IMPORTANT: You must take the starting balance, by running the balance from the prior day. In the example above if we took the balance for 01.01.2016 and there was a transaction on 01.01.2016. We would get the bank balance AFTER that transaction had occurred and NOT BEFORE!

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Step 2: We need to obtain the closing balance for the month.

So we need to take the last working day of the month, which for January was 29.01.2016 and then run the balance for the day. As you know by now the bank will show the closing balance, so running this for the 29.01.2016 gives us the closing balance for that date.

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Step 3: Obtaining the bank transactions for the month.

To get the bank transactions for the month, we now go to the bank transactions area and complete the from and to fields. Again we are running this for January so the “from” field has to be the day before the start of the period, in this case the 31.12.2015 and the two field has to be the end of the period, here we used the 31.01.2016, but equally the 29.01.2016 would have been fine as it is the last working day of January.

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01/01/2016 Payment 1 XXXXXX XXXXXX 200.00 XXXXX 200.00

03/01/2016 Payment 2 XXXXXX XXXXXX 20.00 XXXXX 180.00

Step 4: Download the report.

Now click reports to download the transactions.

Step 5: Select report type and generate the report

Always choose csv as this will open in excel, which will be used when we analyse the bank transactions for our accounts. Once you have selected csv, click “Generate report” to download the file.

So that’s how you download transactions.

To see how to analyse these for your accountant, go to:http://www.lazyprofits.co.uk

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