Solved

OFX import for credit card account

Forum|Forum|3 years ago
September 16, 2022
2 replies
0 views

Hi,

I've been trying to import the transactions in my OFX file to a credit card account with limited success. The transactions get submitted correctly and can be reviewed. However, the balance shown in Quickbooks is incorrect. It appears that upon importing the OFX file, the ledger balance in the OFX file along with the transaction amounts is being summed together to create an opening equity balance. This causes the balance to be offset. The result is that the Quickbooks balance is set to the negative of the bank balance. The problem can be observed if you upload the attached file by going to Quickbooks > Banking > Link Account dropdown > Upload from file > choosing the file I uploaded here, and creating a new "Credit Card" account, and approving the transactions. The only workaround I've found is to delete the opening equity balance in the registry.

Has anyone else encountered this or knows a way to fix this issue?

EDIT: seems like the file can't be uploaded so here it is:

<?xml version="1.0" encoding="UTF-8"?>
<?OFX OFXHEADER="200" VERSION=203 SECURITY="NONE" OLDFILEUID="NONE" NEWFILEUID="NONE"?>
<OFX>
<SIGNONMSGSRSV1>
<SONRS>
<STATUS>
<CODE>0</CODE>
<SEVERITY>INFO</SEVERITY>
</STATUS>
<DTSERVER>20220915160010</DTSERVER>
<LANGUAGE>ENG</LANGUAGE>
</SONRS>
</SIGNONMSGSRSV1>
<BANKMSGSRSV1>
<STMTTRNRS>
<TRNUID>acct_1JFOIJKZQj4hCNo3</TRNUID>
<STATUS>
<CODE>0</CODE>
<SEVERITY>INFO</SEVERITY>
</STATUS>
<STMTRS>
<CURDEF>USD</CURDEF>
<BANKACCTFROM>
<BANKID>[removed]</BANKID>
<ACCTID>*******5436</ACCTID>
<ACCTTYPE>CHECKING</ACCTTYPE>
</BANKACCTFROM>
<BANKTRANLIST>
<DTSTART>20210720201931</DTSTART>
<DTEND>20220915155959</DTEND>
<STMTTRN>
<TRNTYPE>DEBIT</TRNTYPE>
<DTPOSTED>20220906000436</DTPOSTED>
<TRNAMT>1.00</TRNAMT>
<FITID>trxn_1LepHRKZQj4hCNo3rZumbWtI</FITID>
<NAME/>
</STMTTRN>
<STMTTRN>
<TRNTYPE>CREDIT</TRNTYPE>
<DTPOSTED>20220906001721</DTPOSTED>
<TRNAMT>-2.00</TRNAMT>
<FITID>trxn_1LepThKZQj4hCNo338xUdTqD</FITID>
<NAME/>
</STMTTRN>
</BANKTRANLIST>
<LEDGERBAL>
<BALAMT>1.00</BALAMT>
<DTASOF>20220915160010</DTASOF>
</LEDGERBAL>
</STMTRS>
</STMTTRNRS>
</BANKMSGSRSV1>
</OFX>

QuickBooks Online

Best answer by Giovann_G

You're on the right track, ChronosKey.

When you connect or upload a transaction in QuickBooks Online, the system creates an opening balance for you. The amount is determined by your actual credit card or bank account balance. As a result, QuickBooks displays an incorrect balance.

To fix this, you can either edit or delete this entry. You did an excellent job by going to the Chart of Accounts and deleting it directly in the credit card account register.

If you're still having issues with mismatched problems, you can find more information in the following articles:

I'll include a link about how to match and categorize bank transactions in QuickBooks Online. This will assist you in reviewing these transactions after they have been downloaded or imported.

We're always available to assist you if you have other concerns. Take care and stay safe.