Being a QuickBooks user, are you also thinking about how to include those transactions that were incurred in the past? If yes, then you don’t have to think anymore. QuickBooks provides an option for users to manually upload transactions into QuickBooks Online applications.
For this, all you require is to connect your bank account with the QuickBooks Online applications. Then, you can easily download the transactions from your bank account and proceed with your banking tasks. Continue reading this complete post to learn about QuickBooks import bank transactions.
Facing issues while trying to upload transactions to QuickBooks Online? Contact us and have a conversation with our professionals anytime and get all your doubts clarified.
Points You Must Consider Before QuickBooks Import Transactions
The users have to keep certain things in mind before QuickBooks Import Transactions into QuickBooks Online. Thus, it would help them to import the transactions seamlessly without any issues.
- Verify whether your bank account is qualified for a standard or direct bank feed with QuickBooks Online. Also, you must verify the list of your financial institutions that support bank connections.
- Ensure your computer is linked with a stable and good internet connection while you migrate QuickBooks Desktop to Online.
- Upgrade QuickBooks Online to the newly launched version to avoid any technical glitches.
- Also, you must verify that you are using the up-to-date version of the Windows operating system.
- Before uploading the transactions to QuickBooks Online, don’t miss out on generating the backup. The backup file will secure your data from being damaged in case of mishap.
Detailed Procedure to Import Transactions into QuickBooks Online Manually
To learn more about the process to import transactions into QuickBooks Online, perform the steps below.
First stage:- Choose the Appropriate Date Range
The QuickBooks users must know that those transactions will not be imported, which you recorded earlier. All you have to do is pick the date for the previous transaction in the account. Thus, it prevents you from all the duplicate issues.
- Start by picking the Bookkeeping menu and then the Charts of Accounts option.
- After this, look for the bank or credit card account in which you want to include the transactions.
- In the next step, navigate to the highlighted Account History option.
- Later on, you must locate and write down the date of the oldest transaction. You must know the fact that the oldest transaction is considered as an “Opening Balance”.
Second Stage:- Get the Latest Transaction Download From Your Financial Institution
- You first have to login to your bank or credit card’s webpage using the accurate login credentials.
- Thereon, you must follow your bank guidelines regarding downloading your transaction’s CSV files to your computer.
- Moreover, ensure that the date range you have picked for the download is at least one day before your oldest transaction.
- Next, you must mark the download transactions. You are supposed to place the file at the location where it is easily accessible.
Third Stage:- Cross-check the Company File Format and Size
You must ensure that your QuickBooks company file size must be up to 350 KB. If you spot that the file size is long and carries more storage space, reduce the date range. After this, try to download the transactions in smaller batches. Apart from this, you must also ensure that you have formatted the CSV file appropriately before you try to upload them.
Fourth Stage:- Begin Uploading the Transactions Manually
You must carry on with the following steps to upload the transactions manually.
For Those accounts that are Linked With Online Banking
- Initially, move to Bookkeeping > Transactions > Bank Transactions option.
- After this, pick the account you wish to transfer the transaction into.
- Next, hit the highlighted Upload from File option.
- Now, choose either the Drag and Drop or Select Files option, whichever is available. Then, opt for the file you have downloaded from your financial institution and choose the Continue option.
- Go onwards with the instructions displayed on the screen to tally the columns on the file irrespective of the correct fields in QuickBooks.
- You must pick the transactions you desire to import and hit the Continue option.
- Subsequently, click the Yes button and choose the Done option after accepting your transactions.
For Those Accounts that Aren’t Associated With Online Banking
- Initially, choose Bookkeeping, Transactions, and then Bank Transactions.
- Afterwards, navigate to the Upload Transactions and choose the file you downloaded from the bank.
- Pick the account where you wish to shift all the transactions and hit the Continue button.
- Thereon, act according to the steps shown on the screen to compare the columns on the file with that to correct fields in QuickBooks.
- You must opt for the transactions you need to import and click the Continue button.
- Hit the Yes button and then the Done button after accepting your transactions.
Fifth Stage:- Classifications Of the Transactions
Now, in this stage, you only need to tally and classify all the uploaded transactions. You must keep in mind that the transactions will transfer to your accounts once you verify them. Apart from this, in the QBO application, certain information is added automatically after setting up the banking rules.
Sixth Stage: Reconciliation of the Transactions
In the last stage, you are supposed to reconcile your bank transactions to spot whether there is any difference between the QuickBooks and the bank account balances. Moreover, it also ensures that your account tally so that it gives a clear picture of the company’s financial position.
Related Page: How To Recover QuickBooks Data Files
To Summarize the Above!!
We hope you find this post beneficial and help you manually upload transactions into QuickBooks Online. If you get stuck while performing any of the above-listed steps, consult with our professionals immediately via live chat for a quick resolution. They will assist you with the proper tips to resolve the issue within the shortest time possible.