Import MT940 into QuickBooks Online: convert MT940 to CSV

QuickBooks Online imports OFX, QBO and CSV files. Convert your MT940 file to CSV first, then import it. Read the full QuickBooks Online import guide.

What is an MT940 file

MT940 is a SWIFT bank statement format used mostly by European and business banks. It has dates, amounts and the opening and closing balance, which give you a total to check against. The description is often one long field, so check that the payee and memo came out readably after conversion.

What is a CSV file for QuickBooks Online

A CSV file is a plain text table with one transaction per row. QuickBooks Online reads only the date, the amount and one description column from it, and you match the columns during the upload.

Why convert MT940 to CSV

QuickBooks Online doesn't import MT940. QuickBooks Online reads only the date, amount and description from a CSV, so OFX or QBO is the better choice when you want the payee, memo and duplicate checks.

Before you import: check the account in QuickBooks Online

QuickBooks Online keeps your data online, so there is no company file to back up. Check that the account exists under Banking and look at what is already imported for this period.

Step by step: convert MT940 to CSV

  1. Download, install and start ProperConvert. The trial is free.
  2. Open your MT940 file.
  3. Review the transactions to see how the app read your file. Check that the dates are correct, and that expenses are negative and deposits (payments to the account) are positive. The "Change +/-" button reverses the signs for the whole file, for bank and credit card accounts alike.
  4. Set the CSV settings below.
  5. Click Convert, then confirm the file name and location.

Set the CSV output settings

In the CSV tab on the right sidebar, select CSV Quickbooks Online as the CSV target. It writes the date, description and amount. Use numeric dates, and a decimal separator without a thousands separator. See all CSV settings.

Import the CSV file into QuickBooks Online

  1. Click Banking, select the account, and click File upload. Depending on the layout, the link may read Upload transactions, Import a statement or Upload a bank file.
  2. Click Browse, select the CSV file, and click Next. Select the QuickBooks account and click Next.
  3. Match the columns: set the date, description and amount, and confirm the date format. Click Next.
  4. Check the transactions QuickBooks shows, click Next, and finish the import.
  5. Review and categorize the transactions in For Review.

See the QuickBooks Online import guide for more.

QuickBooks Online CSV questions

What does QuickBooks Online read from a CSV file?

Only the date, the amount and one description column. To keep the payee, memo and check number, use OFX or QBO instead.

Does QuickBooks Online skip duplicates from a CSV file?

Not by transaction ID, because a CSV doesn't have one. Check the date range before you upload, or use OFX or QBO.

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