What are the steps to import bank transactions into QuickBooks?

Answer 1

Sometimes when you are not able to automatically Import your transactions in QuickBooks, then you can easily download your transactions manually.

Learn here how you can easily manually upload your QuickBooks online transactions.

Step 1: Decide a starting date.

To avoid recording duplicate transactions, you'll need to know the date of the account's oldest existing transaction:

• Select Chart of Accounts from the Accounting menu in QuickBooks.
• Locate your bank credit card details in which you wish to transfer the funds.
• Select View register from the menu.
• Find the oldest transaction's date and write it down.

Note: Your opening balance is usually the oldest transaction of your account.

Step 2: Set your bank's transactions.

• Log in to the website of your bank or credit card.
• Follow your bank's instructions, to download CSV files of your transactions.
• Each financial organization has its own set of procedures.
• Examine the download's date range (it should be at least one day before your oldest transaction's date).
• You will get the copy of your transactions.
• Finally go to your computer’s desktop to save the file.

Step 3: Examine the file type and size.

• Open the file from your bank and study it.
• Double check the format of your file before you upload it.

Note: Reduce the date range and download transactions in smaller batches if the file is too large as the file size limit is 350 KB.

Step 4: Manually upload the transactions.

Accounts that are linked to the internet banking service

• Navigate to the Banking or Transactions options in QuickBooks Online.
• Then, select the Banking option
• Select the blue tile for the account to which you wish to send the transactions.
• Now select Link account from the drop-down menu, then Upload from file.
• Choose Browse, then the file you downloaded from your bank. Then click Next.
• Select the account you wish to submit the transactions to from the QuickBooks account selection. Then choose Next.
• To match the columns on the file with the right fields in QuickBooks, follow the onscreen instructions. Then choose Next.
• Choose the transactions you want to import. Then choose Next.
• Now select Yes.
• Finally Click let’s go once it’s done.

Accounts that aren't linked to internet banking

If you don't want to link your account or your bank can't connect to QuickBooks, follow these steps:

• In QuickBooks Online, navigate to the Banking or Transactions menus.
• Select the Upload Transactions option.
• Choose Browse, then the file you saved from your bank, and then hit Next.
• Now select the QuickBooks account you wish to upload the transactions to from the drop-down menu.
• Once done press Next.
• To match the columns on the file with the right fields in QuickBooks, follow the onscreen instructions.
• Now click the Next option.
• Choose the transactions you want to import and then choose Next.
• Once done select Yes.
• Select let's go when you're ready.

Step 5: Sort the transactions into categories.

• In QuickBooks, match and categorize your transactions.
• They are put into your accounts after you have reviewed them.
• If you set up any banking rules or if it recognizes transaction descriptions, QuickBooks Online will automatically enter some details.

Step 6: Reconcile your bank transactions in

• QuickBooks has now processed your transactions.
• The final step is to connect them.
• Reconciling the transactions guarantees that your books are correct and that no transactions are duplicated.