What kind of statement is this?
What kind of statement is this?
Bank / Current Account
For standard bank or current account statements, money coming in (deposits, transfers received) appears as positive amounts, and money going out (purchases, withdrawals, fees) appears as negative amounts. This is the most common case — select this if you are not sure.
Credit Card
Credit card statements use the opposite sign convention: purchases appear as positive amounts (money you owe the card issuer), and payments you make to the card appear as negative amounts — the reverse of a bank account.
When you select Credit Card, the converter automatically inverts all amounts and marks the output as a Credit Card account type, so your transactions import correctly into your accounting software.
Credit card statements reverse the sign convention: a purchase of £50 appears as a positive number on a credit card statement (money you owe), whereas in a bank account it would appear as −£50 (money leaving the account).
When this option is ticked, the converter inverts all amounts and sets the output account type to Credit Card (!Type:CCard in QIF, CREDITCARDMSGSRSV1 in OFX). This ensures the transactions import correctly into the credit card account in your accounting software.
Not sure which to choose?
Look at a purchase in your CSV file. If it shows as a positive number, choose Credit Card. If it shows as a negative number, choose Bank / Current Account. Choosing the wrong type will import all amounts with the wrong sign — simply re-convert with the other option if that happens.