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Upload a Relay statement PDF and every transaction comes back as clean rows — date, description, amount and running balance — checked so the month reconciles. Export to Excel, CSV, or a QBO/OFX file for QuickBooks.
Relay is business banking built around a specific idea: splitting money across lots of accounts so it's already allocated before you spend it. It's the account many small businesses use to run Profit First and similar budgeting methods, opening separate accounts for tax, payroll, profit and operating costs. That structure is the thing to handle carefully when you convert.
What's on a Relay statement
A Relay statement lists business activity with these fields:
Column | What's in it |
|---|---|
Date | The posting date |
Description | The counterparty, payment method or card merchant |
Amount | The transaction value, marked as a credit or debit |
Balance | Running balance after the transaction |
The defining feature is that Relay users run several accounts — often many — and transfers between them are constant, because that's how the budgeting method works: income lands, then gets divided across the accounts. A statement can cover more than one account, and every internal transfer needs to stay on the right side and against the right account. The converter keeps each account's transactions and balance to itself, so a transfer from operating to tax isn't read as spending, and one account's activity doesn't spill into another's total.
Where to download your Relay statement
- Online: sign in at relayfi.com, open the account, and go to Statements (under Documents). Choose the account and month and download the PDF.
- Relay can also export transactions directly, but if you've been handed a PDF — by an owner or a bookkeeper — the converter turns it into the same clean rows.
Downloaded this way it's a digital PDF with selectable text, so the conversion is exact. A scanned or photographed statement works through OCR — it just takes a little longer.
Getting it into a spreadsheet or QuickBooks
- Excel or Google Sheets — one clean row per transaction, real numbers ready to total and filter.
- QuickBooks — a QBO or OFX file that imports as bank-feed transactions to categorize.
- Xero, Zoho and others — the same data in each one's format.
Before download, the figures reconcile per account: each opening balance, plus credits, minus debits, has to reach its closing balance. With money constantly moving between accounts, that per-account check is what keeps the allocations straight.
Common snags with Relay statements
- Many accounts, kept apart. Each account keeps its own balance so several aren't rolled into one total.
- Constant internal transfers. Money moved between your own accounts stays on the correct side, not counted as spend.
- Card merchant detail. Card transactions keep the merchant so costs stay easy to categorize.
Frequently asked questions
Can I convert a Relay statement to Excel for free?keyboard_arrow_down
Yes. Upload the PDF and get a clean Excel or CSV back free to start, with each account's balance checked so it reconciles.
Does it handle Relay's multiple accounts?keyboard_arrow_down
Yes. When a statement covers more than one account, the converter keeps each one's transactions and balance separate, so the transfers between them don't distort any single account's total.
Can I import a Relay statement into QuickBooks?keyboard_arrow_down
Yes. Export to QBO or OFX and import it as a bank feed to match against your books. If QuickBooks rejects a QBO file, OFX is the reliable fallback.
Is it useful for running Profit First on Relay?keyboard_arrow_down
Yes. Because Relay is built for allocating money across accounts, converting the statements lets you see each account's inflows and outflows as rows — so you can check the allocations added up the way the method intends, period by period.
Does it read scanned Relay statements?keyboard_arrow_down
Yes, with OCR — though a statement from Relay downloads as a native digital PDF that converts cleanly on its own.
