Confused about importing bank transactions in OFX

[David Reiser]

On Jun 11, 2009, at 2:15 PM, Michael Leone wrote:

> I've just started using GNUCash for personal use, and I am confused  
> about
> importing transactions in OFX format from my bank. I have created  
> all my
> accounts, and now want to import all the transactions of my checking  
> account
> for the last 5 days, rather than enter them by hand. But when I go  
> to import
> the OFX file, GNUCash seems to put all the transactions into an  
> account
> called "Imbalance".

Imbalance is the other side of the transaction already. The first time  
you imported an ofx file from a particular bank, gnucash asked you  
what account you wanted to associated with that ofx source. You should  
have pointed the dialog to your checking account. Thereafter, gnucash  
assumes any ofx file with the internal <ACCTID> ofx tag that matches  
the one from the first import is also going to your checking account.

If you made a mistake assigning the account, you'll have to search the  
mailing list archives for the method for resetting it (involves either  
editing xml (not recommended generally, but possible), or double- 
changing imports to force gnucash to think it needs to reset -- not  
exactly straightforward, and I don't remember details at the moment.)

>
> Let's start from the begining - how can I tell GNUCash that all the
> transactions I am importing are for my checking account? The OFX  
> format
> lists only 1 side of the transaction (i.e., it will have a  
> description of
> "Direct Deposit" and an amount). I can't tell from the window that  
> pops up,
> how to make the DR account of that transaction to be the checking  
> account,
> and the CR account be the "Salary" account.

When the transaction matcher window shows up, double click on the  
right end of a transaction line and pick the proper 'other side of the  
transaction'. As mentioned above, gnucash already thinks it knows that  
one side of the transaction is going in the account you picked the  
first time you imported a file from the bank.

>
> Am I just completely missing something obvious? I'm guessing that  
> all the
> OFX transactions are going into the "Imbalance" account because it  
> can't
> match the OFX transaction to one already entered into the transaction
> journal. But I'd rather not enter all the transactions by hand into  
> the
> journal, just so the importer can match them to what's in the file.
>
> Is this not what the "Import" feature is for?
Yes.

> Or should I be doing something
> else to import transactions, rather than enter by hand and match/ 
> reconcile.

Works either way for me.
>
> Thanks
>
> -- 
> Michael J. Leone, <mailto:turgon at mike-leone.com>
Dave
--
David Reiser
dbreiser at earthlink.net