 can express or whatever. If you don't want to connect directly to them or you want to practice, you want to put together your own bank feeds to practice with, you can download this information from there or make your own file, which we'll take a look at in a second. So to download it, you go to your financial institution and usually somewhere there's going to be download account activity, which is different than looking at the reports. You're not looking at your bank statements or credit card statements because those will be in PDF format. We want this in a format that can be uploaded to the system, which will generally be, for example, oftentimes they have a QuickBooks format, which isn't QuickBooks online software, it's just like a data input format. So that one works pretty well and that most institutions have that. Quicken, you don't really want that one. And then if they don't have those, any of those, you can use the comma deliminated, which usually is opened in like a spreadsheet format. And then if you want to just practice, you can make your own file with a spreadsheet and then just create a comma deliminated or CSV file. So let's see what that looks like. So I'm going to go up top and just say that if I go back into my accounting and I go into my bank feeds and I want it to manually import. And by the way, you might want to manually import in situations where it's like you're going really far back, like you're going more than a year, like a year back or more, because sometimes you can get more data from the bank by manually downloading it as opposed to connecting to the bank. And then possibly you might want to connect to the bank after after that. That's one reason you might use a manual upload and practice other than just to practice with once you get the data in from the manual upload or from the bank feeds, you will be in what I call the bank feed limbo area where all the information will be in your system, but not yet used to create the financial statements. It's in limbo. It has not been brought through. It needs a little bit more information and some enlightenment in order to bring it on through the promised land to be used to create the financial statements. So we can up if I go to the dropdown here, then we can import the statement. So if I import the statement, that makes you think the way they worded that you're going to get the PDF file and import it. But that's not what's happening here. Instead, you're going to be importing these files that we look like. So download bank statements from your online banking. Again, you're not really downloading like a bank statement. You're downloading a series of transactions. You're downloaded like the bank feed. Now you could like those bank formats is an OFX, a QFX, a QIF. There's that QBO, which is quite common. And if usually most of them will have a spreadsheet format, which will be SCSV if nothing else, right? Now if you want to make your own, you can look at the template here. And like if you just want to make your transactions, you can actually just pull up the template and you can put your data input into this template, you know, date, amount, description, and that's it. And then you can upload your own data and you can play with the bank feeds that way. I'm going to be using this file. So I downloaded a file that looks like this. It's a credit card file. But it looks like a QuickBooks desktop program or something. But it isn't, if I right click on it and it is a, it's formatted, I guess by QuickBooks or they came up with the formatting or whatever. But it's not actually the source where it's just a data input format. It's just the way to format the data that can easily be brought in to these online applications. So it's a, it's an OFXdata.qbo. Okay. So let's import that in here. So I'm just going to say select the file. It's on the desktop, which is a messy situation. But I know where everything is. My desk, the top of my desk has a lot of stuff on it, but it's not like, it's not like I'm unorganized because you just don't understand how I organize it. So I'm going to upload it and it's uploading 16 transactions. So, okay. So then we're just going to complete the import and there it is. So now just to recap, if I go into my accounting transaction and I look at my bank accounts, I now have my credit card account has stuff in it now. So, so I'm going to go into, so it's all negative. Now you have the same beginning balance issue with the credit cards because it's only going to be pulling in the activity. So if you had activity before the time that you started putting the credit card in, you're going to have to deal with that beginning balance issue, which we might talk, we'll talk about in a future presentation when we do the first bank reconciliation. Once we're, we've done that, everything should run smoothly. It should be quite easy after that. If I go into the dropdown, the account transactions, we've got the account transactions on the right. These are the transactions that we have made. We don't have any because we're usually with the credit cards, we're going to be dependent on the financial institution to create the financial statements because they're perfect transactions to do that. I mean, we could have a system and in a full service accounting system, every time I make a purchase on the credit card, I would then record it as a purchase and then match it to the credit card using the financial institution as a verification. But we're getting to the point where the credit cards we're so confident in them and because the turnaround time is so fast that these are perfect transactions to just say, look, I'm just going to depend on the bank here. So in other words, when I record the transaction, I'm not going to record it on my side. I'm going to wait until it clears the bank, which should happen in one to three days. And then I can just record it that way. So, so I'm, we're so confident about these transactions that that's what most people are going to do. So that means we didn't record anything on our side. The bank is recording them on their side because this is what got pulled in from the bank feeds. So this is what got pulled in. It's not reconciled yet. We have the cash coding. Remember, if you don't see this, you can go into your user area and then just turn on the cash coding so that you can see the cash coding. If you want that, it's not on by default. You have to go into, you know, the users and then turn on in the banking section. I think the cash coding, we talked about that before. I won't do it again because we're running along here. And then if I go into the reconcile, so now we can build our financial statements. So this is what I call the bank feed limbo because these transactions have now been brought in from the bank, but they have not yet been used to make the financial statements. They're still missing something. Something's wrong. They're not quite there yet. They don't know, they don't have all, they don't have everything to be fully fulfilled and therefore be pulled in to the promised land. So what do they need? Of course, all we have, these are all going to be usually decreases. So unlike with the checking account, we don't really have deposits, but we have payments, which are kind of like, but really we pay off the credit card, but really every, all the transactions here are going to be expense type transactions and then we pay off the credit card, right? Those are the transactions that are going to be here. So usually the other side of the transaction, what we will construct is an expense for things that we're going to be purchasing, although we could have purchased inventory and fixed assets as well. So that's what we'll do next time. And as we do that, like with the checking account, we can add bank rules so that even though the first time we do this, it's a pain, but when we set it up properly and we do it well and we fully, we don't, we don't send, you know, people to the wrong areas, once we pull them out of bank feed limbo and then send them to like, to a bad, a worse spot and mess up the financial statements, if we set it up properly, then, then it'll be basically automated going forward and then things will be easy. We got to go through the pain to start and then, and then once we, once we, once we put in the work, man, you got to put in the work. I don't, I'm not going to say that for it. It's a trendy for it, but it's kind of, it's kind of applicable here because you got to do this, you got to do at the first point and then it'll be easy after that. So we'll start doing that in future presentations. No change to the financial statements yet. So we don't need to take a look at the trial balance or anything and we'll move on next time.