Expense transactions are showing as income (or vice versa) after importing a bank file

Sometimes when importing a bank file, transactions are imported showing expenses as income or income as expenses. The great news is - this is easily fixed!

What causes this to happen

This issue usually only happens for credit card accounts updated by uploading a bank file and seldom happens with an account connected to a bank feed.

For example, some credit card providers may show an amount spent as 23.95 and a credit card repayment as -300.00. This does not match what PocketSmith would expect as the spent amount should be -23.95, and the repayment should be 300.00.

Fixing the transaction amounts

To fix the transaction amounts, you need to re-import the bank file via the  Account Summary (Manage > Account Summary) with the following steps:

1

Head to the Account Summary page ( Manage > Account Summary)

2

Drag-and-drop the file you'd like to import onto the Account

3

On the import form, choose  Replace transactions on overlapping dates

This ensures all incorrect transactions will be replaced with the new correct ones.

4

Then tick the checkbox option Amounts in this statement file are reversed

This will ensure incorrectly marked debit/credit transactions are fixed.

Note

You should only use these options when the amounts of each transaction are incorrectly shown as negative when it is a positive amount, and vice versa, and not if the balance is incorrectly showing as positive instead of negative.