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Problem with HSBC Upload
I've recently noticed that when I upload a credit card statement from a HSBC QIF file, the debits are being loaded as credits.
This seems to only just be happening as I've successfully uploaded files in the past?
This seems to only just be happening as I've successfully uploaded files in the past?
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The best solution from the company
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The problem is with the HSBC QIF or CSV files themselves. HSBC now provide two files to download, one for expenditure on the card, the other for payments back to the card.
This wouldn't be a problem but it turns about that all the expenditure transactions and all the payment transactions have positive amounts so FreeAgent thinks they're all payments. Unfortunately there doesn't seem to be a way to make FreeAgent automatically determine whether an uploaded file is a payments file or an expenditure file.
The correct solution here is for HSBC to provide expenditure transactions with negative amounts -- this is what their old files used to do and it's what all other credit card providers do. However, this might not be very likely to happen. In the mean time the workaround for getting this data into FreeAgent is for you to manually add a minus sign to all the amounts in the expenditure file (not the payments file, that is fine).
For QIF files, the amounts are on lines which start with T so
T24.70
Would become:
T-24.70
For CSV files, the amounts are at the end of each line so the following line:
14/11/2008,FREEAGENT CENTRAL,28.75
Should be changed to:
14/11/2008,FREEAGENT CENTRAL,-28.75
We're still looking into how we can provide a flexible but transparent workaround for this, but we haven't quite found an solution yet.
If you could find the time it would definitely be worth sending a message to HSBC as well to ask them if they can start including the correct sign on amounts in their expenditure files.
I’m often frustrated with banks
The company says
this solves the problem
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Inappropriate?Nuttyprofessor,
Could you send us an example file (anonymised if you like, but please leave the formatting intact...)? ed at freeagentcentral dot com.
Thanks, we'll take a look at get to the bottom of the problem...
1 Comment Add a comment
This solves the problem
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Hi Ed,
I sent a file on 27/12 - thanks -
Inappropriate?I've just had to delete a bunch of entries and try and work out why this is happening, and it's to do with the imported files for sure.
Is it anything to do with the new system that HSBC are using? My internet banking has changed a lot in the past couple of weeks.
I’m anxious
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Inappropriate?Les
Please can you send us an example file to support at freeagentcentral dot com and we'll get to the bottom of it for you? -
Inappropriate?Hi Olly,
I've just sent that to you now - thanks. -
Inappropriate?What is the way forward on this, i'm having similar issues. Especially after trying to 'explaining' the transaction, FreeAgent starts creating new expenses and keeping the old ones that are marked as 'invoice receipt' by default unexplained.
I’m slightly worried, but positive.
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Inappropriate?The problem is with the HSBC QIF or CSV files themselves. HSBC now provide two files to download, one for expenditure on the card, the other for payments back to the card.
This wouldn't be a problem but it turns about that all the expenditure transactions and all the payment transactions have positive amounts so FreeAgent thinks they're all payments. Unfortunately there doesn't seem to be a way to make FreeAgent automatically determine whether an uploaded file is a payments file or an expenditure file.
The correct solution here is for HSBC to provide expenditure transactions with negative amounts -- this is what their old files used to do and it's what all other credit card providers do. However, this might not be very likely to happen. In the mean time the workaround for getting this data into FreeAgent is for you to manually add a minus sign to all the amounts in the expenditure file (not the payments file, that is fine).
For QIF files, the amounts are on lines which start with T so
T24.70
Would become:
T-24.70
For CSV files, the amounts are at the end of each line so the following line:
14/11/2008,FREEAGENT CENTRAL,28.75
Should be changed to:
14/11/2008,FREEAGENT CENTRAL,-28.75
We're still looking into how we can provide a flexible but transparent workaround for this, but we haven't quite found an solution yet.
If you could find the time it would definitely be worth sending a message to HSBC as well to ask them if they can start including the correct sign on amounts in their expenditure files.
I’m often frustrated with banks
The company says
this solves the problem
-
Inappropriate?Olly,
Thanks for the quick response.
I've tried editing the file in the meantime and figured that may be the case. I think this will do for now as it's not as time consuming as entering all the data by hand.
I do have some good friends in HSBC but not sure if they high enough to do anything about it, but i will certainly mention that.
I'm guessing the FreeAgent isn't the only application suffering from this change as other accounting packages work on very similar basis so let's hope they will recognize that and see it as being in their interest to get this fixed.
Cheers,
Frank
I’m glad there is a work-around.
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Inappropriate?I've logged a support request with HSBC, but won't hold my breath - I'll try the negative number trick for now.
I'll update this page with any responses from HSBC.
Thanks for your help Olly.
I’m indifferent
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Inappropriate?Just to let you know we have also contacted HSBC but only via their technical support submission page (we don't have a direct contact yet). We'll try our best to keep on at them.
If they can't change the amounts then we're hoping they'll be able to add a simple identifier into each file which would allow FreeAgent to determine the correct sign. -
Inappropriate?Just a quick update: I had a call from the Tech team at HSBC today (a very friendly guy called Roy), and have emailed them a link to this thread.
Keeping fingers crossed that this means that they'll be able to resolve it for us!
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Inappropriate?I have just come off the phone with HSBC technical support and they've told me that they're aware of the issue and they hope to have a resolution soon, but they couldn't be more specific about the time frame.
I'm hoping they'll move to support the OFX format for non-business accounts.
If anyone else reading this thread has the same problem I think it would definitely be worth contacting HSBC technical support via this website:
https://hsss.hsbc.co.uk/technicalsupp... -
Inappropriate?@olly
I've got some transactions in my credit card account that are down as credits instead of debits. I can't really undo the statement imports though as I've imported other ones since then. Are you able to do it manually for me? And if so, how do you want me to get in contact to let you know what my account is etc.?
Thanks,
Paul. -
Inappropriate?Paul
Sure, just email me your account name and the transaction IDs : olly at freeagentcentral dot com.
You can see the transaction ID in the address bar when you click to edit.
I’m happy to help
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Inappropriate?Is there a way with this that I can change all transactions on my HSBC Commercial card so they show as money out, rather than money in.
I presume that this will throw my tax bill and VAT bill as well? As this is the card I use for all my expenses, so I'm not offsetting any of my VAT expenditure.
I guess what I'm trying to say is: As all these are automatically marked as money in, do I have to recalculat my VAT bill before I submit my new return?
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Inappropriate?FWIW I have just submitted a report to the HSBC tech helpdesk. Hopeless... - I mean who still uses a Netscape favicon? Yep, HSBC does.
I’m getting my coat.
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Inappropriate?I've just spoken to someone at the HSBC business helpline and apparently a new system is going to be launched in July that should sort this problem (and the fact that you can't get more than a few months statements in the past).
Let's hope it does...
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