See an updated tutorial how to import a transaction file into Xero.
From this step, you must have already created a CSV file. You can download it from your Online Banking or you can create it with ProperSoft converter, for example, Bank2CSV converter. IMPORTANT: Bank2CSV is now replaced with the ProperConvert app, which converts from more formats and converts to more formats.
And when you convert to CSV, select Xero, as a 'CSV Target' for your CSV file. So the file will be properly formatted for Xero. If your CSV file is downloaded from your Online Banking, maybe you would need to map it.
So first, click on 'Accounting' and then click on 'Bank accounts'. Now you have to select a Bank account or Credit Card account to import transactions into.
So, for example, you have a Checking account. Look for the 'Manually import a statement' or click on 'Manage Account' and look for the link 'Import a Statement'. In your accounting software, look for "Upload a bank file" or similar links to upload the created CSV file.
Click the 'Browse' button and select a CSV file.
Then click the 'Import' button.
Map your CSV file to Xero transaction fields. Make sure that you are converting correctly a CSV file. You can review the transactions before importing them into the Xero account.
Names, like 'Date', 'Amount', 'Payee', 'Description', 'Reference', 'Check number' are from the CSV file. So when you create a CSV file with ProperSoft converter and you select the option 'CSV Target' as Xero, it will add the header column names to the CSV file. So it's easier than to map it when you import it into Xero. And another thing it will name the columns that Xero can understand automatically map. So, in this case, Date automatically mapped to transaction 'Date', Amount automatically mapped to transaction 'Amount', Payee to 'Payee', and Description to 'Description'.
Only two columns 'Reference' and 'Check number' are not automatically mapped. But they would be on your CSV file if you convert with ProperSoft converter and the file, which you convert, has checks and check numbers, then the column gonna be filled. And if there's additional information on your OFX file or a PDF file, then it would go to the 'Reference' column and then you can map it as well. QuickBooks doesn't have this, but Xero has this additional column. That is very convenient when you would like to store additional details about transactions.
Create 'Reference', select 'Check Number' and now you can review transactions if you like. Click 'Next' and you can see Dates, Amounts, you can see how they will be in Xero.
Click the 'Save' button.
And click 'Ok'. Now your transactions are imported.
The next step is to map Payee names to Vendor Records. Let's say you would have Payee something like Shell 1, 2, 3 or Shell, or something like that, but you have a Vendor called Shell in your Xero accounting. And then you would select Vendor Record in Xero for that transaction. Categorize transactions by selecting the account. And then transactions will be under your account.