QuickBooks is an ideal solution for managing and handling all the accounting and bookkeeping needs of a business. Today, in this post we’re going to learn how to import bank transactions into QuickBooks Online. Online Banking in QuickBooks Online is a very important and time-saving feature that not only downloads bank transactions but it also categorizes them. To learn about is brief then you need to refer to the given below steps.
Steps for importing bank transactions into QuickBooks Online
You can easily import your bank transactions into QuickBooks online by referring to the given below steps one-by-one:
Locating Your Bank
- First, you need to choose the transactions option> then go to the left menu bar QuickBooks and tap on the Banking option.
- Now to add your bank account, tap on the green connect account button.
- After that, you need to search your bank by entering the bank’s name or the Bank’s website URL.
Note: If in case you don’t find your bank in the list, you need to import your bank transactions by using a CSV file or with a QuickBooks online file.
- Once you select your bank then navigate to your bank’s sign-in page by pressing the green Continue button
Log-in Into the Bank Account
- Once you sign in to your bank, then a pop-up “are want to share your banking information with Intuit and provide a summary of the information to be shared” is displayed on the screen.
- Click agree for the confirmation and continue. It will again take you to QuickBooks.
Linking your Bank Accounts to Chart of Accounts
- Once you returned back to QuickBooks then a list of accounts that have with the selected bank will get displayed.
- Now you need to choose all the bank accounts that you want to link to QuickBooks Online.
- After that click on an account> now a drop-down menu will list all the selected bank accounts as well as your chart of accounts. Note: If in case your checking account is not in Chart of Accounts then you need to add by clicking on the Add new option.
- Ensure that the account type is Bank and Detail type is Checking.
- In case if you have more than one checking account with the same bank then you need to add the last four digits of the account number.
- Once entering all the needful data, click Save and close option.
Selection of the appropriate Date Range
Once you successfully assign your bank account to an account from your Chart of Accounts. Now you need to decide the transaction range.
Reviewing Downloaded Bank Transactions in the Banking Center
Once you connect to your bank account then QuickBooks will take you to the Banking center page. Then you need to go through the given below steps.
- Review transactions: Navigate to the orange number (which is located in the upper left corner of the Banking Center). This number is basically the number of transactions that were imported from your bank account and are ready to review.
- Reviewing Tab: To review the imported bank account transactions, you need to tap on the Review lists option.
- Adding account: To add a new account, you need to click on the Add account option (located in the upper right-hand corner of the screen).
Steps for manually importing bank transactions into QuickBooks online with a CSV File
- Initially, go to the “Banking center”.
- Then you need to select the File upload option> click on the file that you want to upload.
- Now choose your QuickBooks account> after that you need to set up your QuickBooks account.
- After that, you need to address the QuickBooks Online Download Fields to Your Bank Account Fields
- Then select the “banking transactions” that you want to import into QuickBooks Online.
- Thereafter, you need to click on the confirm option to proceed with the import.
- Now your transactions are downloaded> now you can review all the Imported transactions
In this article, we have learned how to import bank transactions into QuickBooks Online. However, if in case you face any issue while importing your bank transactions into QuickBooks Online visit Dancing Numbers.