QuickBooks users do a lot of transactions in QuickBooks via Credit Card. If you have already downloaded the Import Credit card in QuickBooks then You can do any transaction online. In case you have not downloaded, you can still import transactions by credit card. Users also know that it saves a lot of time doing import Transactions. They also help you to make financial reports and budget the transactions for the whole year. Even they record all the old transactions of your bank account. If you have downloaded your bank account so your file will automatically transfer into your QuickBooks desktop. After all, if you want to know How to import credit card transactions in QuickBooks desktop, in detail then read the complete post, by reading this post you can easily import credit card transactions in QuickBooks desktop.
What We Have To Do Before importing credit Transactions
Before moving to point to know How to import credit card transactions in QuickBooks desktop you need to do few points. Belllow we discussed few points that you need to know before importing transactions.
- First You have to upload the Account number before importing and if you have already downloaded it then you will need a Sub Account Number.
- There will be a ‘pay’ column in the file, from that it will take the downloaded files directly from your folder and automatically put them into the QuickBooks desktop.
- During import transactions there is no need to add new value to your import document.
- If you want to download your transactions for more than 90 days so you have to import your transaction in Excel .
- Then the CSV file is converted into the QuickBooks QBO format.QBO file is used in QuickBooks Software.It takes downloaded files (Bank statement) from your Bank Account.
- If you want to import transactions into QuickBooks from excel so you have to select banking and add your file from your folder.
- You have to create your account if you don’t have an account in QuickBooks.
- To install your account so you will fill valid details.
How to import credit card transactions in QuickBooks desktop
Steps to importing credit card transactions into QuickBooks online.
- Locate Your Credit Card Company in QuickBooks: Before connecting your credit cards into QuickBooks, you need a username and password to signup and login. After signing you have to go through your website to check all your account information and activate it. You have to select transactions for import from folders of your QuickBooks online company dashboard. If this is your first account in which you import your transactions then you should click on the green connect account button to add your credit account. If you have already connected so it will be taken to the banking center. Enter into the credit card company name if you are connected online. If your company is not in the list so you have to import your credit card transactions by excel with CSV files.
- Log Into Your Credit Card Account: After signing , you can easily open your credit card account in a browser.After that , your bank will ask you to share all the bank information and description if you want to share your information so click on the bank confirmation page.
- Link Credit Cards Accounts To Charts of Accounts: You will see the list of accounts in which you will choose a credit card company and the link you want to connect to the charts of accounts. I you have another account at the same bank, So you have to connect with the other one during these steps, then click your account and select it.
- Select The Right Date: After linking your account from charts of your account you have to decide when QuickBooks should start importing transactions. You need to try to back your transactions to the date. If QuickBooks does not allow to go back so you will have to transfer the older transactions by QBO or CSV File.
Verify your Downloaded Transactions In The Banking Centre
- You will see the orange number in the banks of America for the transaction view and check all the transactions that you have imported.
- For Review list all the transactions have import from your credit bank or not
- If you want to connect with QuickBooks with another account so have to go for clicking the green button by adding a new one.
Steps To Import Credit Card Transactions Into QuickBooks by Using a CSV File
You have to download your transfer file from your credit card company account and these files can be import by using the following types of files:
CSV: These files are used to send data for different transactions and can be opened and start editing if you want.
QBO:It helps to design your information that you will export to QuickBooks.
QfX: These files are used for financial purposes and exchange files.
TXT: These text files will import when will editing completely and after convert into the CSV files and transfer.
- Select the Transfer file to Upload in QuickBooks: Go to the browser and select your transactions from your files or credit card account.
- Select a QuickBooks Account: You will select an account from your charts of accounts to record the import bank transactions.
- You want to add another account with quickbooks so you have to set up a new credit card account after being selected you have to import your transactions.
- Before starting this step, you will open your CSV or TXT File in Excel to verify the bank exported the right information to the credit card account in QuickBooks.check the transactions will be shown in positive numbers.
- Select transactions for import CSV and TXT files:You have to select your downloaded transactions from your bank account with CSV and TXT files only. All the information regarding business should have been imported .Check all the bank informations are relevant and accurate.After selecting and checking the transaction you will click on the green button for the import of your Transactions.
- And then return to the banking center.:in which your transaction will be shown on the left corner of the page with numbers to show your imported transactions.
After reading all these steps you can easily understand How to import credit card transactions in QuickBooks desktop and what is the best way to import credit card transactions in Quickbooks. If you still have any trouble in importing credit card transactions in Quickbooks, then you can leave a comment or hire any certified Quickbooks ProAdvisor.