Entering bank transactions manually is a time-consuming task for any business. Every day, businesses receive multiple bank transactions through NEFT, RTGS, IMPS, UPI and other payment methods. The accounts team has to identify the party, select the correct account and enter the transaction details into the accounting software.
When hundreds of transactions need to be recorded every month, manual entry takes valuable time and increases the chances of mistakes. eCount offers a Bank Statement Import facility that helps businesses import bank transactions, identify party names from bank narrations, remember account selection rules and find duplicate transactions.
What Is Bank Statement Import Software?
Bank statement import software allows businesses to import transactions from a bank statement file instead of entering every transaction manually.
With eCount, you can upload your bank statement Excel file, select the bank account and review the transactions before saving them. The software displays details such as transaction date, amount, document number and narration to help you identify the correct party and account.
The main advantage is that you do not need to select the same party account every time you import a similar transaction. Once the required account search rule is configured, eCount can remember that mapping for future imports.
Import Bank Statements Without Entering Every Transaction Manually
eCount makes bank transaction entry easier by allowing you to import statement data into the Bank Statement Import screen.
The imported transactions can include bank receipts, bank payments, transaction dates, amounts, document numbers and narration. You can review the details, check the account selection and save the transactions in eCount.
This reduces repetitive data entry and helps your accounts team process bank transactions more efficiently.
Automatic Party Search from Bank Statement Narration
One of the useful features of eCount Bank Statement Import is its account search rule facility.
Bank narrations often contain information about the sender, receiver, company name, payment reference or transaction description. Finding the correct party from this information can take time when done manually.
eCount helps simplify this process by using an account search code to identify the relevant party from the bank statement narration. You can configure a search rule so that the software can select the associated account during future imports.
Example: Automatic Account Selection from Narration
Suppose your bank statement contains the following narration:
NEFT DR - ABC TRADERS - PAYMENT FOR INVOICE
During the first import, you identify the correct party account, such as ABC Traders, and configure the required account search rule.
When a future bank statement contains the same configured search code, eCount can automatically select the linked account when the Auto Rule option is enabled.
You do not have to search for and select the same party account every time. This is particularly useful for businesses that receive regular payments from customers or make frequent payments to suppliers.
Set Auto Rules for Faster Bank Transaction Entry
The Auto Rule option helps eCount remember the account mapping configured for a particular search code.
Once the rule is set, the software can use the same account mapping when the matching search code appears in a future bank statement import.
This helps reduce repeated account selection and makes the bank entry process faster.
Businesses with regular customer receipts, supplier payments, salary payments and recurring expenses can benefit from this facility.
Find Duplicate Bank Transactions Automatically
Importing bank statements without checking existing transactions can create duplicate entries in your accounting records. A duplicate receipt or payment can affect account balances and make reconciliation difficult.
eCount provides options to find duplicate or similar transactions during the bank statement import process.
The user can check the identified transactions and use the available options to remove duplicate or similar transactions that have already been saved in the database.
This helps keep accounting records more organised and reduces the time required to identify repeated entries manually.
How eCount Bank Statement Import Works
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Select the bank account: Choose the bank account in eCount for which you want to import transactions.
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Upload the Excel statement: Select the bank statement file and the required worksheet.
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Review the imported transactions: Check transaction dates, amounts, document numbers and narration.
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Identify the correct party: Select the relevant account using the account search code.
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Set the Auto Rule: Enable the rule where required so that eCount can remember the account mapping for future imports.
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Check duplicate transactions: Use the duplicate detection facility to identify transactions that may already exist in your records.
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Save the transactions: Review the entries and save them in eCount.
How Bank Statement Import Helps with Bank Reconciliation
Bank reconciliation means checking the transactions recorded in your accounting software against the transactions shown in your bank statement.
When bank entries are recorded regularly and correctly, it becomes easier to compare the bank statement with the books of accounts.
eCount Bank Statement Import helps by reducing manual entry, remembering configured account mappings and identifying possible duplicate transactions. These features help the accounts team maintain cleaner records and make the reconciliation process easier.
Who Can Benefit from Automatic Bank Statement Import?
The bank statement import facility is useful for businesses that process a large number of bank transactions, including:
- Wholesale traders and distributors
- Manufacturing companies
- Transport and logistics businesses
- Retail businesses
- Service providers
- Companies managing multiple bank accounts
- Businesses with regular customer receipts and supplier payments
Save Time on Daily Accounting Entries with eCount
Accounting teams should not have to spend hours selecting party accounts and entering the same type of bank transactions repeatedly.
With eCount, you can import bank statements, configure account search rules, automatically select mapped accounts during future imports and identify duplicate or similar transactions.
These features help reduce repetitive work and allow your team to focus on reconciliation, account review and other important accounting activities.
Try eCount Bank Statement Import
If your accounts team still enters bank transactions manually, explore how eCount can simplify your daily accounting work.
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