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!
In this user guide
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 page with the following steps:
- Head to the Account Summary page (Manage > Account Summary)
Drag-and-drop the file you'd like to import onto the Account
- On the import form, choose Replace transactions on overlapping dates. This ensures all incorrect transactions will be replaced with the new correct ones.
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.