Getting the file
In your online banking, open the account and choose Export or Download transactions as a CSV file. The file is read in your browser, and LetCompliance keeps the date, amount and description of each transaction so you can match them.
If your bank writes dates month first, the import notices and reads every date in the file that way, and says so. Check the first rows against your statement.
Matching each line
- Rent with a charge on the Rent page: mark that charge paid from the line, so the arrears stay right
- Rent the tenant paid only part of: record it on the Rent page and set the line to Nothing to record
- Costs and other income: add them to Finance, where they count towards your Making Tax Digital figures
- Rent your letting agent paid after taking a fee: the full rent is recorded as income and the fee as a separate cost
Nothing counted twice
Importing the same statement again adds nothing. A rent charge and its payment count as one payment, however it reached the account. Two lines with the same date and amount from different imports are flagged for you to check, because joint tenants paying the same rent on the same day is two real payments, not a duplicate.
On the free plan
Bank statement import is part of Making Tax Digital, so it is free while you have one property.
