By Ashley Preen
July 16, 2020
If you have a foreign bank account which doesn’t support bank feeds to QuickBooks, FreeAgent, or any other accounting software you’re currently using, you’ll know that trying to upload CSV files generated from these foreign banks can be a nightmare.
That’s because many non-English European languages use the comma (,) instead of the period (.) as a decimal separator.
So, for example, in German, the number €100.05 would be formatted as €100,05. (Actually, in Germany, the Euro symbol would come after the number, like so: 100,05 €).
Some Canadians still use a comma as a decimal separator, although this is no longer taught in schools.
U.S. and U.K. English are in the minority in using commas as decimal separators, but the fact that “CSV” stands for “Comma-Separated Values” means that a CSV file will separate each unique value using a comma.
For example, a CSV file formatted for upload to FreeAgent could look like this:
10/04/2020, 100.23, Some Expense
When a computer reads that file it sees three distinct fields: A date, a value of 100.23, and a description.
If we were using commas as decimal separators, the above line would look like this:
10/04/2020, 100,23, Some Expense
Now when a computer system reads the file, it sees four fields: A date, a value of 100, a value of 23, and some text. That would throw an error if you tried uploading it to FreeAgent.
To solve this problem, languages which use commas as decimal separators save CSV files with semicolons as a separator. So, even though it is still called a “CSV” file, the separator is now a semicolon and not a comma.
Confused yet? Yes, computer programmers feel your pain.
When downloading a CSV statement from a German bank you would receive a copy which might look like this:
10/04/2020; 100,23; Some Expense
But it gets even more complicated. Languages vary widely in how they write down dates.
Germans separate date parts using a period (.), so the above file would actually look like this:
10.04.2020; 100,23; Some Expense
The Swiss format dates the same way.
Even if you replaced the commas with periods and the semicolons with commas, FreeAgent and QuickBooks would still reject the file because they aren’t able to determine the value of a date formatted with periods (.) instead of slashes (/).
If the file was from a Swedish bank, it might look like this:
2020-04-10; 100,23; Some Expense
Okay, there are many ways to do it “wrong”, but we need a quick and easy way to format the file and get it “correct” so that you can upload it to QuickBooks, FreeAgent, Xero, etc. And the solution is to do a trick with Microsoft Excel.
The steps are:
Easy, yeah? That works for any file in any foreign format. Now go upload those transactions and get your bookkeeping up to date!
We're glad our customers are happy with our products and services. Here's what some of them said about us...
Pearl Accountants are unique as you can get. They have a great one to one service and they always answer your queries in a fast and professional manner.
I find Pearl when I opened up my limited company. I was clueless, but Pearl Accountants kindly assisted me in the best way so I felt at ease and understood how the operation works.
Everything was explained clearly in detail and I could ask as many questions as I wanted. They were never rude or impatient, just happy to be there to help.
The client had previously missed a few deadlines with HMRC and Companies House and needed a hands on approach
Wanted to ensure they have a proactive team so that no deadlines were missed and full end to end bookkeeping carried out
Client was introduced to a dedicated accountant who filed all outstanding accounts and appealed for any penalties by HMRC
After being in business for years, I must admit that Pearl Accountants are far the best accountants I have worked with. They are helpful, friendly and trust worthy and most of all provide excellent tax advice.
They provide high-level client care. I would certainly recommend Pearl Accountants to all.
Invoice factoring complications led client to inaccurate bookkeeping and unclear of clear reporting requirements
Processing the invoicing system accurately with clear and transparent management reporting was key
Processing the invoicing system accurately with clear and transparent management reporting was key
Pearl Accountants have been my accountants for many years and have been a great asset to my businesses. They have a strong team and knowledge is second to none. Very happy with the service and professionalism from them. Will continue to recommend them to my network.
Paying huge taxes without any tax efficiency and lack of understanding on various VAT aspects.
Minimise tax bills and ensure the business was compliant with HMRC and Companies House
As a startup graphic design company, we ensured the client used tax allowances and efficient payroll structures to withdraw money
Holborn based laser hair removal company joined us with a view to expanding their business on a large scale. They undertook accounting and advisory services which helped them grow above their rivals.
Holborn based laser hair removal company joined us with a view to expanding their business on a large scale. They undertook accounting and advisory services which helped them grow above their rivals.
Achieve a national presence and grow organically through current business model
We came on board and advised client on tailor made business strategies to achieve their online and brick and mortar presence.
We have been using Pearl Accountants for over 10 years and developed a very good business relationship. Very clear instructions with easy to follow accountancy system in place. Great expertise in tax efficiency, as well as business, grow and development services. One of the best-chartered accountants in town.
We have already recommended your services and will share our good experience with others in future.
It is always someone available on the phone but if not available at the time your accountant will always call you back.
Complete peace of mind with prompt and clear communication so no deadline missed.
Very satisfied.
Client was growing very fast with inability to keep track of growth with no cloud accounting setup and no integrations
Time saving on bookkeeping and clear vision of profitability management reports. Setup with cloud integrations.
Recommended a online cloud solution with time saving applications and clear breakdown of monthly profitability.
We recently migrated to Pearl Accountants from large national accounting firm. Transfer was easy and faultless. Friendly staff at Pearl lead us through the process with ease. Initially we were drawn to their service because of their attractive pricing structure. However it quickly became apparent to us that we were getting a lot more for our money than we initially thought as they are happy to stretch the engagement to all sorts of additional advice. Thumbs up to Pearl Accountants.
No clear strategy for business growth or tax planning reduction techniques
To achieve business advisory, tax planning and accurate reporting requirements
Recommended a online cloud solution with time saving applications and clear breakdown of monthly profitability.
Our client, a well established practising solicitor in the UK required a headache free service to ensure their accounting requirements were met and cloud accounting solution setup
Too much time was being consumed in bookkeeping and previous accountants missed various deadlines
More time was needed to focus on the business and ensure a firm came on board to take full ownership.
Advised client to forward us everything in ‘shoe box’ style and provided full breakdown regularly to keep informed.
They make me feel that I am a valued customer and to me what makes Pearl accountants unique is their helpful team of dedicated staff members. Their response is always prompt and it makes the daunting task of accounting really easy for me. Pearl Accountants is really a five-star accountant company.
As a franchisee tuition business, the client did not have the right advise to reduce taxes or a proactive accountant to advise where needed
Reduction in taxes through governmental tax subsidiaries and requiring more time to focus on the business.
A dedicated accountant was assigned to ensure deadlines were not missed and review of tax strategies.
Our client was in need of a specialist contractor accountant to remain compliant and ensure they did not fall in IR35.
Client required advisory on payroll and VAT solutions and filing of accounts at year end.
No clear direction on IR35 nor guidance on allowable expenses that could be claimed.
Ensure the contractor company was compliant with HMRC and Companies House and advisory on saving taxes.
Provided a full explanation and review on IR35 and guidance provided on which expenses could be claimed to reduce taxes
Our client having a property portfolio in Switzerland required a specialist accountant that understood the UK tax legislation whilst having a thorough understanding of overseas tax implications.
Overseas and UK income not declared, needed tax returns filed for previous years and appeal to HMRC for outstanding penalty
Paying taxes in the UK and overseas, wanted help understanding the tax system so avoid paying taxes twice.
Appealed successfully for prior years penalties and filed all outstanding returns. Thorough review of all tax allowances available.
Our client joined us after losing track of their finances and needed someone they could turn to for help. We came on board and reviewed their internal bookkeeping arrangements and recommended efficiency to lower their input on areas which could be outsourced to us.
No real track of profitability or clear vision of expenditure along with weak internal processes.
To achieve a clear breakdown of expenditure and ensure the current setup for bookkeeping was run more efficiently.
Recommendation on reporting packs, internal processes and online applications to integrate for payment reconciliation.