The present invention is directed to a system that updates files with updated financial data. The system of the present invention is configured to receive from a user one or more selections of files (e.g., datastores of financial data utilized and/or referenced by financial reporting application for purposes of generating up-to-date financial reports) to be updated with updated financial data. The user is further enabled by the system of the present invention to schedule importations of updated financial data into each selected file. The system of the present invention also is configured to generate a report of complete file updates so that the user may more effectively monitor and review the file-updating processes.