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HSBC Bank feed withdrawals showing up as deposits

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pippaq
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pippaq

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HSBC Bank feed withdrawals showing up as deposits

Recently HSBC finally started offering a qif, csv and txt format for statement downloads.  Only problem is that after uploading a qif into myob all the withdrawls show up as deposits. I've tried various conversion tools (Mac only) and still MYOB doesn't like the conversions.  We've spent countless hours on the phone to MYOB multiple who told me at first I was doing it wrongly - had the wrong file, wasn't downloading it properly etc etc.  But then conceded there was an issue.  Anyone having the same problems?

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MYOB Moderator Steven_M
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MYOB Moderator
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Steven_M
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Re: HSBC Bank feed withdrawals showing up as deposits

Hi @pippaq 

 

I would be looking at the import file that you are using to import those transactions. Generally, with QIF files the format will be:

!Type: Bank
D<<Date of transaction>>

T<<Amount of transaction>>

P<<Payee of transaction>>
^

D<<Date of transaction>>

T<<Amount of transaction>>

P<<Payee of transaction>>
^

 

Note:<< xx of transaction>> is populated data from the transaction

 

With a withdrawal transaction, the T value will have a negative in front of it i.e. -250.00 would be a withdrawal of that bank account for $250. If you don't have negative value it will be treated as a deposit thus the value will show as a deposit once imported.

Kind regards,
Steven

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