Are you unable to import credit card transactions into QuickBooks Online? If yes, then you have arrived to the appropriate place. In this comprehensive guide, we have covered everything essential to import bank transactions. Moreover, the users can also import the transactions into QBO using the QBO file or a CSV file. To learn more details about importing credit card transactions in QuickBooks, we suggest you to read the post thoroughly.
What Should Be Done to Import Credit Card Transactions Into QuickBooks?
Below are some simple steps to import credit card transactions into QuickBooks; check them out.
Stage 1: Locate Your Credit Card Company In QuickBooks Online
- Initially, tap on the Banking drop-down menu beneath the left menu bar of the QuickBooks online dashboard.
- If you are linking your credit card account to QuickBooks for the first time, you must tap on the Connect Account button. This will add your credit card account to QuickBooks successfully.
- On the other hand, if your credit card account is already linked, it will redirect you to the Banking Center. Herein, hit the Link Account button from the upper right corner of the screen.
- Insert your credit card company’s name to verify whether it can link with QBO.
- After choosing your bank name, select the Continue button to redirect you to the bank sign-in page.
Stage 2: Sign-In To Your Credit Card Account
- QuickBooks will present you with a new window to wind up the login process of your credit card account.
- After successfully logging in, you will receive a mail from your financial institution for your confirmation.
- Now, you must share your bank details with Intuit along with the description of the information that needs to be shared.
- Once you hit the Agree button to give your consent. Then, tap on the Suitable option from the Bank Confirmation window. Doing so, will directly move you to the QuickBooks application.
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Stage 3: Connect Your Credit Card Account To Charts of Accounts
- While returning to QuickBooks, you will get the lists of accounts associated with bank or credit card accounts.
- After this, pick the bank account or account that you wish to link with the Charts of Accounts.
- You must choose all the bank accounts you want to link with QuickBooks Online.
- If you find that you have a checking account and credit card from the same financial institution, you can link both.
- Next, hit on the An Account option and move ahead.
- Consequently, it will redirect you to the new window with a drop-down button listed with all bank accounts connected with the Charts of Accounts.
- If your credit card account is previously added in Charts of Accounts, choose them.
Generate a New Credit Card Account in Charts of Accounts
- In the initial stage, tap on the Add New button.
- As a result, it will launch a prompt in which you must include the relevant information for adding an account in Charts of Accounts.
- You must verify that the Detail Type and the Account Type must be set as Credit Card.
- It is mandatory to note down the credit card company name, which will help them to recognize it easily.
- For instance, if you have various credit cards with the same company file, you must include the last four digits visible on the credit card.
- After adding all the required information accurately, hit the green-colored Save button. Later on, tap on the Close option and move further to the next step.
- As a result, it will redirect you to the screen with the new account.
Stage 4: Choosing the Appropriate Date Range
- Once you have successfully linked your credit card account to Charts of Accounts, you must decide when QuickBooks must initiate importing transactions.
- After this, you must pick the beginning date to transfer the bank transactions.
- The default start date will be shown at the beginning of the year to pull the transactions.
- For instance, if your QuickBooks or the credit card company won’t allow you to return, you can utilize the QBO or CSV file to shift the previous transaction.
Stage 5: Examine Downloaded Transactions In the Banking Center
Once you have successfully connected your bank account, QuickBooks will redirect you to the Banking Center. Look at the steps below to initiate reviewing the transaction in Banking Center.
1. Review Transactions:-
The Orange number represented within the Capital One box reflects the number of transactions that have been imported. But these are the transactions that still need to be examined and categorized.
2. Review Tab:-
The Tab entitled For Review consists of all the transactions imported from your chosen bank or credit card account that is in waiting.
3. Add Account:-
You must tap the green Add account button located at the top-right corner to link another bank or credit card company with QuickBooks Online.
Instructions to Import Credit Card Transactions Manually in QBO Via CSV or Similar File
Process 1: Get the Transfer File Downloaded From Your Credit Card Company
- Users can utilize CSV, QBO, QFX, OFX, and TXT to import credit card transactions in QuickBooks Online.
- After this, you must sign in to your credit card account and look for the option to download your account transactions.
- You will get different options to download the transactions. Herein, you must pick either the QBO or QFX format.
- You must walk through some additional steps if you don’t see any of these file types.
- At last, save the transfer file to a location where it is easy to find so you can import it without any inconvenience.
Process 2: Pick the Transfer File to Upload in QuickBooks
- From the Banking Center, tap the dropdown menu beside the Update option. Then, hit the Upload from file option.
- Afterwards, hit Select Files to search your file on your device. Later on, select the Continue button to go ahead.
Process 3: Pick the QuickBooks Account
- You are supposed to pick an account associated with Charts of Accounts.
- Click on Add New button to set up a new credit card account.
- Proceed to the next step if your file format is QBO, OFX, or QBX.
Process 4: Map Columns to QuickBooks Fields
- You must verify the columns of credit card charges because some credit card companies might get the charges in different columns.
- After accomplishing process 3, if you start importing a TXT or CSV file, QuickBooks have to name this column in CSV format to import.
Process 5: Choose Transactions for Import (CSV and TXT files)
- You can now easily pick the transactions from the field to begin the import process.
- Verify that you have selected all the transactions and click the Next button to wind up the import of transactions.
Process 6: Go Back To the Banking Center
- Tap the Transactions button and click the Banking option from the left menu.
- You will obtain the bank accounts with the number of pending transactions for Review.
- At last, refresh your browser so that your Banking center can present you with the newly updated import transactions.
With the help of this article’s help, the users can now easily import credit card transactions into QuickBooks. If you still have any queries, you can contact our professionals anytime through live chat for instant help.