Step one: Adding bank accounts and importing transactions
The first step in setting up a PocketSmith account is to add bank accounts and import transactions. There are a few different options for importing data into PocketSmith:
Bank feeds are the most convenient way to add accounts and import transactions automatically into PocketSmith.
We've got all the detail here: Adding a bank feed and establishing your accounts
Bank files are a great alternative method for bringing transactions into PocketSmith if there's no bank feed support available for your bank. You can easily export bank files from your online banking and import them into PocketSmith.
To learn how to import bank files see: Importing bank files into PocketSmith
Check out our Quick Import tool to upload multiple bank files to a PocketSmith account at the same time. We recommend using OFX file types (with the file name unchanged) where possible, as PocketSmith will attempt to automatically match each bank file to an existing PocketSmith bank account when they’re uploaded - making it even easier to upload new transactions!
You can find more about using this here: Importing multiple bank files to your accounts via the Transactions page
Tip
Following the initial bank file import, it's best to leave minimal overlap between the date of the most recent transactions and choose the option to replace transactions on overlapping dates.
For example, if the most recent transactions in the account are on May 31, then the next bank file import's date range should include and begin from May 31. This will ensure that there are no missing transactions.
Editing account details
On occasion, you may need to edit the details of an existing account, such as the account name, account type or account currency. You can do this from the Account Summary page by clicking MANAGE ACCOUNT > Account preferences.
For more detail see Edit the details of your accounts
Changing the balance option for an account
Bank feeds can sometimes default to the incorrect balance option - showing a positive balance when it should be negative, or, showing available credit instead of the current balance for a credit card or revolving loan account.
If the balance that has been pulled through by the bank feed is incorrect, you can change the balance option as shown here: Balance options for an account
Where to next
For the full overview of getting started with PocketSmith and the next stages, please see: Getting started with PocketSmith.