New Accounting

Accounting preview: import bank statements and reconcile

The Accounting preview can import bank and card statements, add each transaction to the books with rules, and reconcile accounts with statements.

In the Accounting preview, which only Magpie administrators can open, Banking imports a bank or card statement from CSV. Magpie guesses which column is which and skips transactions already imported. Each transaction is then added against an account, recorded as a transfer, matched to an entry already in the books such as a Stripe payout, or excluded, and can be undone.

Rules choose an account by what a description contains, and can add matching transactions as they are imported. Reconcile ticks off the entries a statement shows until the books agree with it. The free plan includes 2 bank and card accounts.