Import and export are more time-saving options! You can import items including accountant’s changes, bank transactions, basic journal entries & batch transactions. Also, you can import the vendors and customers manually into QuickBooks online. The below article is rounded with the guide to import the bank transactions from Excel to QuickBooks.
Why Import Bank Transactions From Excel to QuickBooks?
You download the transactions automatically into QuickBooks Online. However, in some scenarios there require manual entry of the banking transactions like when the bank failed to link with QuickBooks. In this case, there is a need to transfer the banking transactions with Excel or QuickBooks online file.
How to Import Bank Transactions From Excel to QuickBooks?
The only data you require to link the bank account to QuickBooks is the login credential to the bank website. Once you enter the login credentials the QuickBooks will stay connected and download transactions. Here is the list of steps:
- Search your Bank
- Following are the steps:
- Choose Transactions tab
- Click on the Banking option from the left menu bar of the QuickBooks online dashboard
- Hit to Banking Center tab in QuickBooks Online
- Choose the green button named Connect account to add the bank account
- Now link your first bank account in QB online
- Find the bank by writing either the bank’s website URL or the bank name
- In case the bank is not listed then you need to import the bank transactions with QB Online file/through Excel via a CSV file
- Proceed to the bank sign-in window
- Once chosen the bank, hit the option named green Continue to redirect to the sign-in Window
You May Also Read: How do I Export from Quickbooks to Excel
Step 2- Log in to the Bank Account:
- Open the new browser window
- It will open the sign-in to the bank account
- Once you sign in to the bank there might display a prompt asking you to confirm that you need to share the banking data and provide an informative summary.
- Once agreed then hit the appropriate tab to the bank confirmation window
Step 3- Connect Bank Accounts to Chart of Accounts:
- Once returned to QuickBooks you are re-directed to an account list you have linked with the bank
- Choose Bank account tab
- Select link to Chart of Accounts option
- Choose all of the bank accounts you would link to connect to QuickBooks Online
- Next, hit on the account
- There will display a drop-down field with bank accounts in the Chart of Accounts
- If the checking account is in the Chart of Accounts then click on it
Step 4- Create a new checking account in the Chart of Accounts:
- If the drop-down field of Chart of Accounts failed to include the checking account then hit Add new option
- Now add a new account to the Chart of Accounts in QB online
- The Account must be bank & detail type must be Checking tab
- You must give a name to the account and recommend the bank name plus “Checking Account”
- In case there are multiple than one checking account linked with the same bank then there might contains the account number’s last four digits.
- Once entered the required information then hit on the green option named Save and then click the Close tab
- It will redirect to the prior Window with the new selected new account
Also Read: Convert QuickBooks File to Excel
Step 5- Choose the correct Date Range:
- Once you assigned the bank account to an account from the Chart of Accounts then you need to decide the option to pull transactions
- Click on the beginning date to let transferring bank transaction
- The default start date is the beginning of the year
Can I delete the import transactions that are too old?
Yes, you require deleting them manually
How would I need to review the downloaded transactions?
Use the Banking center option and review button to check the transactions.
How can I check the no of imported transactions?
The orange number that appears in the upper left corner of the Banking center window specifies the no of imported.