Convert CIBC bank statements to Excel, CSV & QBO

What a CIBC bank statement looks like

CIBC statements list Withdrawals ($), Deposits ($) and Balance ($) with an Opening balance line and a summary box.

Canadian bank statements commonly show a running balance on every line, with separate Withdrawals and Deposits columns, and dates printed as 'Jan 05' without the year.

How to convert a CIBC statement

• Sign in to CIBC Online Banking under eStatements and download the statement for the period you need as a PDF (not a screenshot).
• If the PDF is password-protected, open it and save an unprotected copy first.
• Upload one or several months to StatementPilot. Scanned or photographed statements are read with OCR.
• Check the reconciliation panel: the "Opening balance" plus deposits minus withdrawals should equal the "Closing balance".
• Export to Excel or CSV for analysis, or QBO/OFX/QIF to import into QuickBooks Online, Xero and Sage 50.

Dates, amounts and account numbers in Canada

English statements use 1,234.56 while French-language statements use 1 234,56. Date order varies by bank, so we detect it from the statement itself. We read the date order from the statement itself and default to DD/MM/YYYY for Canada, so 03/04 is never silently swapped.

Accounts are identified by a transit (branch) number, institution number and account number. Only the masked or last digits are carried into QBO/OFX files, as those importers expect.

Importing CIBC transactions into your accounting software

Accountants in Canada most often import into QuickBooks Online, Xero, Sage 50 and Excel. Choose QBO for QuickBooks, the Xero CSV for Xero, OFX for most other packages, or Excel/CSV for anything else.

When your bank feed only goes back a few months, converted CIBC statements fill the gap for older periods without manual typing.

Why statements are still needed

Paperless statements are typically available for up to 7 years in online banking.