Time for action – reconciling with a downloaded electronic statement

Let's say that you have downloaded the OFX file from your bank and saved it in a folder of your choice. The file should have a file name extension of .ofx. We will now walk you through the steps for doing the reconciliation in GnuCash using this downloaded statement:

1. In GnuCash, select from the menu File | Import | Import OFX/QFX. The Select an OFX/QFX file to process dialog will open. Find the folder, select the OFX file that you want to import and click Import. The Select Account dialog will open as shown in the following screenshot:

   

   Note

   The first time you import a new downloaded OFX file, GnuCash asks you to select the account associated with that download. From then on, it remembers.

2. Under Assets, expand Current Accounts, select Checking Account, and click on OK. The Generic import transaction matcher window will open as shown in the following screenshot:

   

3. Click on the Help button and the context-specific Transaction List...