Context

Prior to your Business Insight Call with your Onboarding Accountant, please connect your business bank accounts to Xero using the first of the month of the Form 2553 Box E date.

For personal accounts that contain business transactions as of the Box E date, please download the activity into a CSV from your bank and upload it on your Collective Dashboard. We will add some columns and instructions to the file so you can easily identify for us business vs. personal transactions. We will use that info to add the business transactions to your S Corp books.

This article will go over the steps to downloading the transactions and uploading it to your Collective Dashboard prior to your first call.

Action

Each bank's website is a little different. But they all allow you to download activity in CSV format.

  1. Log into your bank's website.

  2. Choose the bank account (i.e. personal checking) that has business transactions

  3. Within the selected bank account, there should be an option to download account activity. Depending on the bank (i.e. Chase), you might only see a download button near other options (i.e. Chase will have it near the printer button).

  4. Before downloading, make sure of the following:

    1. The correct account is selected

    2. You have customized the date range. This should be the first of the month of the Form 2553 Box E date to the current date.

    3. File format is a CSV

  5. Once you have downloaded the bank activity for all of the personal accounts containing business transactions, you will log onto your Collective dashboard and upload the CSV file(s) via the upload button (left side menu > documents).

  6. Collective will then be able to make a few edits and provide to you the updated file with instructions. Your Onboarding Accountant will also go over the next steps during your first call.

Chase

https://www.tillerhq.com/how-to-export-chase-bank-statements-into-excel-and-google-sheets/

Wells Fargo

https://www.wellsfargo.com/help/online-banking/comma-delimited/#:~:text=Access%20Download%20Account%20Activity%20under,Click%20on%20the%20Download%20button.

Bank of America

https://www.tillerhq.com/how-to-export-bank-of-america-statements-into-excel-and-google-sheets/

Novo

https://novo.zendesk.com/hc/en-us/articles/360053999832-How-do-I-download-a-my-transaction-history-as-a-CSV-file-#:~:text=up%20direct%20deposits%3F-,How%20do%20I%20download%20a%20my%20transaction%20history%20as%20a,Tab%20in%20the%20Novo%20App.

Citibank

https://www.tillerhq.com/how-to-export-citibank-statements-into-microsoft-excel-and-google-sheets/

US Bank

https://answers.usbank.com/answers/s/article/How-do-I-download-and-print-my-account-history

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