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Is it ok to manually import past transactions if I just started using Solo with a new bank accou ...

DSMSP

nt and they won't match?

Hi team, just downloaded Solo and wondering about collecting the full financial year in it. I have expenses in July, but just opened a new bank account this week for use with Solo and finally split personal and business accounting. I am wondering if there's a "proper" way to bring these expenses in as they won't match the bank account transactions (this account did not exist then).

For context, I come at this question from being a YNAB user where everything needs to match, so wondering if the same principle applies here or if expenses and bank accounts are generally two separate things in Solo and therefore it's fine to bring past expenses in that are not reflected in the linked account.

Thanks for any pointers!

Cheers,
Dan

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Accepted answers

Jared-Solo

Hi @DSMSP, always nice to meet a fellow You Need a Budget'er 👋

Great question! You've run into something that comes up often when folks are setting up a clean slate with a new business account. While we can’t give specific financial advice (we’re not licensed to say what’s proper for your particular setup), we can absolutely speak to how Solo works under the hood.

Solo’s Connected Accounts feature pulls in transactions automatically from your linked bank account, but that’s just one way to track your expenses. If you’ve got earlier business expenses from before the account existed, you can absolutely enter those manually into Solo. They won’t match a bank transaction (since that account didn’t exist at the time), but that’s completely fine from Solo’s point of view.

In other words: bank feeds and expense records are linked where possible, but Solo doesn’t require every transaction to have a matching bank record. You’re free to add past expenses manually so your full financial year is accounted for, even if some of that activity happened before your new account was opened.

I hope that's been helpful. Let us know if you’d like help adding those manually, or have questions about how they’ll show up in your reports.

All comments

Jared-Solo

Hi @DSMSP, always nice to meet a fellow You Need a Budget'er 👋

I hope that's been helpful. Let us know if you’d like help adding those manually, or have questions about how they’ll show up in your reports.

DSMSP

Hi @Jared-Solo, thanks so much for taking the time to reply! It's great you also use YNAB so you knew exactly what I meant. Your explanation is crystal clear, so I've marked it as the solution. Thanks again!

To answer your offer to assist (and thanks for offering by the way!), I've started adding them manually and so far no issues. I haven't played around with the reports just yet, but will be sure to come back to the forum if any questions arise in the process.

Thanks heaps again!

Cheers,
Dan

hbatrick

So can i ask how you reconcile the bank account then ?

Jared-Solo

Great question — this one trips a lot of people up because Solo does things a bit differently.

In Solo, you don’t need to run a separate “bank reconciliation” at the end of the month.

Once your bank (or Solo Money account) is connected, your transactions flow straight into Solo under Transactions.

From there:

Solo suggests matches to your invoices and expenses
You review and confirm, or tweak the category if needed
Once it’s matched or categorised, it’s effectively reconciled

So instead of doing a big tidy-up later, you’re reconciling things as you go. A few taps here and there, and your records stay in sync with your bank automatically.

If you’re coming from another system, the mental shift is basically:

From one monthly “reconcile” step to complete in one big block
To bite-sized, ad hoc "matching" as they come in