Bank statement import in Firmify — complete guide

What is bank statement import?

Bank statement import lets you upload your bank's CSV or XML export into Firmify and automatically create journal entries — without typing each transaction by hand.

Instead of manually recording every incoming payment and outgoing expense, you:

1. Export the statement from your bank's internet portal
2. Upload it in Firmify → Accounting → Bank Import
3. Review and confirm the suggestions Firmify generates

Step 1: Export your bank statement

Every Bulgarian internet banking platform has an export option — usually under "Account movements" or "Transactions":

Export for the month you are closing (e.g. 1 May – 31 May).

Step 2: Upload in Firmify

Go to Accounting → Bank Import and click "Upload file". Firmify detects the format automatically.

After processing you will see a table with:

• Date — transaction date
• Amount — positive = money received, negative = money paid out
• Description — the narrative from the bank
• Matched counterparty — if Firmify found a match in your Counterparties list
• Suggested account — the account code Firmify recommends

Step 3: Understand account code suggestions

Firmify uses three layers to suggest the right accounting account for each line:

Layer 1: Your history (highest priority)

If you previously recorded a transaction from the same counterparty (matched by IBAN or name), Firmify reuses the same account code. Over time the suggestions improve automatically.

Layer 2: Description keywords

Firmify scans the bank narrative for Bulgarian and English keywords:

Layer 3: Direction default

• Incoming payment with no keyword match → 703 (Service revenue)
• Outgoing payment with no keyword match → 602 (External services)

Step 4: Review and adjust

You can change the suggested account before confirming. Common corrections:

• Loan repayment → use account 151 (Long-term loans) or 152 (Short-term loans)
• Owner capital injection → 101 (Registered capital) or 499 (Other)
• Asset purchase → 204 or 205 (Tangible assets) — these also need a fixed asset record

Step 5: Confirm to create journal entries

Click "Confirm import". Firmify creates a journal entry for each confirmed line, linked to the current open accounting period.