Understanding CSV and PDF Bank Statements & How to Download Them

Downloading CSVs and PDFs from business banking accounts helps keep a record of all financial transactions.

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Download CVSs and PDFs from Narvi

Downloading CSVs and PDFs from business banking accounts provides business owners with a convenient way to keep a record of all their financial transactions, access financial information from any device, and perform financial analysis.This practice helps with record-keeping, provides easy access to financial data, and enables informed decision-making for the business.How to get your statements
  1. Click on the "Transfers" tab.
  2. Select the date range for the statement.
  3. Click on "Download Statement".
  4. Select PDF or CSV format. 
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Understanding CSV and PDF Bank Statements

Why Do I Need CSVs and PDFs from My Business Bank Account?There are several reasons why knowing how to download CSV and PDF bank statements is beneficial for businesses:
  1. Financial Record-Keeping: Having digital copies of your bank statements ensures you always have access to your financial history. This is crucial for accounting, tax preparation, and auditing purposes.
  2. Data Analysis: CSV files allow you to import your transactional data into accounting software or spreadsheets. This makes it easier to analyze your cash flow, categorize expenses, and gain insights into your business's financial health.
  3. Reconciliation: Regular downloads of your bank statements make it easier to reconcile your books and ensure all transactions are accounted for.
  4. Reporting: PDF statements can be quickly shared with stakeholders, investors, or your accounting team, providing a clear snapshot of your business's financial position.
  5. Grant and Loan Applications: Many financial institutions require recent bank statements when applying for business loans or grants. Having these readily available in PDF format can speed up the application process.
  6. Backup: Downloading and storing your statements provides an extra layer of backup for your financial records, protecting you against potential data loss.
How to Use Your Downloaded Bank StatementsOnce you've downloaded your bank statements, there are several ways to make use of this financial data:
  1. Upload to Accounting Software: Many accounting platforms allow you to upload CSV files directly. This creates a bank feed, automatically importing your transactions and saving you time on manual data entry.
  2. Sharing with Your Accountant: You can easily share PDF statements or CSV files with your accountant, making tax preparation and financial planning more efficient.
  3. Analysis in Spreadsheet Software: Both Microsoft Excel and Google Sheets are powerful tools for analyzing your financial data. You can create pivot tables, charts, and use formulas to gain insights into your business finances.
  4. Creating Financial Reports: Use the data from your CSV files to create custom financial reports, helping you make informed business decisions.
  5. Budgeting and Forecasting: Historical transaction data is invaluable for creating accurate budgets and financial forecasts for your business.
Note: the first two actions become automated and more efficient when you can integrate your banking with your accounting software via API. Narvi offers API integration and documentation for developers.Tips for Managing Your Downloaded Bank Statements
  1. Consistent File Naming: Develop a system for naming your downloaded files. For example, "BankName_AccountType_YYYYMM.csv" can help you quickly locate specific statements. Otherwise, if you bank automatically names files something like "Statement.pdf," they are quickly going to pile up in your Downloads folder.
  2. Secure Storage: Store your downloaded statements in a secure location, preferably encrypted and backed up. This protects your sensitive financial data from unauthorized access.
  3. Regular Downloads: Set a schedule (e.g., monthly) to download your statements. This ensures you always have up-to-date records and prevents a backlog of downloads.
  4. Verify Data: Always cross-check the data in your CSV files against the PDF statements to ensure accuracy, especially if you're importing the data into accounting software.
  5. Retention Policy: Familiarize yourself with legal requirements for retaining financial records in your jurisdiction and implement a retention policy accordingly.
When and Why Do You Need to Provide a CSV or PDF from Your Bank Account?There are various situations where you might be required to provide a CSV or PDF from your bank account. Understanding these scenarios can help you be prepared and manage your financial documentation more effectively:
  1. Tax Preparation and Audits:
    • When preparing your tax returns, you may need to provide bank statements to verify income and expenses.
    • In case of an audit, tax authorities often request bank statements to cross-verify reported financial information.
  2. Loan Applications:
    • When applying for business loans, personal loans, or mortgages, lenders typically require recent bank statements to assess your financial stability and repayment capacity.
    • For business loans, they may specifically request CSV files to analyze your cash flow patterns.
  3. Business Planning and Forecasting:
    • CSV files of your bank transactions can be invaluable when creating financial projections or budgets for your business.
    • They provide historical data that can inform future financial decisions and strategies.
  4. Expense Reimbursements:
    • If you've made business expenses using a personal account, you may need to provide bank statements as proof when claiming reimbursements.
  5. Legal Proceedings:
    • In legal disputes or divorce proceedings, bank statements may be required as evidence of financial status or transaction history.
  6. Grant Applications:
    • Many grant-giving organizations require recent bank statements as part of the application process to verify financial need or organizational stability.
  7. Visa Applications:
    • When applying for certain residence permits or visas, especially business or investor visas, you may need to provide bank statements to prove financial solvency.
  8. Account Reconciliation:
    • When working with accountants or bookkeepers, providing CSV files of your bank transactions allows for easier and more accurate reconciliation of accounts.
  9. Investment Applications:
    • Some investment platforms or financial advisors may request bank statements to verify your income or assets before providing investment advice or services.
  10. Rental Applications:
    • Landlords may ask for recent bank statements when you're applying to rent a property, even for commercial leases.
  11. Business Valuation:
    • If you're selling your business or seeking investors, detailed financial records, including bank statements, are crucial for accurate business valuation.
  12. Compliance and Regulatory Requirements:
    • Certain industries may have regulatory requirements to maintain and provide financial records, including bank statements, for compliance audits.
By regularly downloading and securely storing your bank statements in both CSV and PDF formats, you ensure that you're always prepared for these scenarios. This practice not only saves time when these documents are requested but also provides you with a comprehensive record of your financial history for personal or business use.Remember, when providing bank statements, always ensure you're doing so through secure channels, and be cautious about the information you're sharing. Redact sensitive information when possible, and always verify the legitimacy of requests for your financial information.By leveraging the ability to download CSV and PDF bank statements, businesses can streamline their financial management processes, gain valuable insights into their finances, and ensure they're always prepared for financial reporting and analysis tasks.Remember, while digital statements offer convenience and flexibility, it's crucial to maintain the security of your financial data. Always use secure connections when accessing your online banking services and follow best practices for data protection when storing and sharing financial information.How to Download CSV File & PDF Bank Statement from Other BanksWhile the exact steps may vary depending on your bank, here's a general guide to downloading CSV and PDF bank statements from most online banking or internet banking platforms:
  1. Log in to your online banking account using your credentials.
  2. Navigate to the "Statements" or "Account Activity" section. This is often found in the main menu or dashboard.
  3. Select the account you want to download statements for (if you have multiple accounts).
  4. Choose the date range for the statement you need.
  5. Look for a "Download" or "Export" option. This might be a button or a dropdown menu.
  6. Select your preferred file format. Here's where you'll typically select CSV format or PDF format.
  7. Some banks might offer a "new export profile" option, allowing you to save your preferences for future downloads.
  8. For CSV files, you may have the option to choose the date format. Look for options like "csv ddmmyyyy" if you need a specific date format.
  9. Click the download button. Your browser may ask where you want to save the file.
  10. Once downloaded, you can open the file using the appropriate software (e.g., Excel spreadsheet for CSV, Adobe Reader for PDF).
Remember, some banks might offer additional file formats or have slightly different steps. Always refer to your bank's specific instructions if you're unsure.What are CSVs and PDFs in Banking?Let's briefly explain what CSV and PDF bank statements are and why they're useful for businesses.

CSV (Comma-Separated Values) Files:

A CSV file is a simple text format used to store tabular data. When you download a CSV bank statement, you're getting a file that contains your transaction history in a format that's easy to import into spreadsheet software like Microsoft Excel, Google Sheets, or accounting software. This makes it ideal for data analysis and financial record-keeping.

PDF (Portable Document Format) Files:

PDF bank statements are electronic versions of traditional paper statements. They provide a comprehensive view of your account activity, including transaction details, account information, and often include the bank's branding and layout. PDFs are great for archiving and sharing financial information in a format that's difficult to alter.Each account type may have slightly different processes for downloading statements, so be sure to familiarize yourself with the specific options for each.
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Originally published April 4, 2023. Updated November 8, 2024.AuthorValeriya Kushchuk, now Narvi's Digital Marketing Manager, previously a business reporter and marketer in the crypto space.
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