How to import credit card transactions in QuickBooks desktop?

How to import credit card transactions in QuickBooks desktop & online?

June 16, 2021
Quickbooks

Transactions in QuickBooks Are mostly done by using credit cards. 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.

Importance of Connecting Your Credit Card Account to QuickBooks

One of the many advantages of QuickBooks Online is that you can save a lot of time by actually contributing to every transaction, rather than importing your transactions into QuickBooks with a credit book transaction.

Most large banks enable you to quickly and effectively associate with QuickBooks, yet a portion of smaller banks and credit associations do not have that capability. To find the right visa for your business, see our Credit Card Commercial Center.

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. Below, 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 statements) 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 in the valid details.

Importing all credit card transactions in QuickBooks

Steps for importing credit card transactions into QuickBooks desktop:

  • Locate Your Credit Card Company in QuickBooks: Before connecting your credit cards to QuickBooks, you need a username and password to signup and log in. After signing you have to go through your website to check and activate all your account information. 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 on 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. 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 Bank of America for the transaction view and check all the transactions that you have imported.
  • For the Review list, all the transactions have imported 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 for Importing Credit Card Transactions Into QuickBooks Desktop Using a CSV File

You have to download your transfer file from your credit card company account and these files can be imported 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.

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 information 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.

Steps for Importing Credit Card Transaction in QuickBooks Online

Importing Credit card Transaction in QuickBooks online using CSV file:

  • You have to choose the Transaction and the banking center.
  • Upload your transaction by clicking on Upload Button.
  • Click on the search option and locate the file that you want to upload.
  • Click on the QuickBooks Account that you want to link with your credit card account.
  • If you don’t have an account in QuickBooks then you can be clicking the drop-down menu and add your account first.
  • When you are adding your account the screen will display some massage showing some fields you have to fill.
  • So, you should complete these fields like- Account Type, Detail Type, Name, Description(Where your credit card name and the last 4 digits of your account number)
  • Map the QuickBooks Online(Steps):
    • Select the column of date and choose the format of the date which you want.
    • then Go to the description and just click on the file.
    • Now you get the positive and the negative numbers in a single column in front of you.
    • You have to choose the column with a negative number.
  • Then Tick the transaction which you want to import into QuickBooks and click Next.
  • Click on yes to confirm.
  • The transaction will be downloaded.

Import Your Credit Card Transaction Automatically in QuickBooks Online

So, to import credit card transactions into QuickBooks, you have to join your Mastercard record to QuickBooks. So as to do that, you will require your internet banking client ID and password to sign in to your record. You will just need to do this once. Going ahead, your transaction should be naturally downloaded into QuickBooks consistently.

  • Navigate into banking center-
    when you are navigating or select the bank you need to choose one of the following options-
    1. Your bank type or credit card name in the search box.
    2. Select from the list of credit card companies in the search box.
  • Log into your business credit card account-
    For access to your credit card account, you need the user ID and the password. It would be a delay because of your internet connectivity, so be careful about your Internet connectivity.
  • Select the correct Business credit card accounts-
    Before selecting read carefully that when you select your account, you have to write the Account name, Select the QuickBooks Account.
    After that, your screen should display the following account window setup, with Complete the fields below-
    Category type, Detail Type, Name, Description, after fill all the information just click on Save and Close button.
  • Selection of Correct Date Range
    The maximum number of transactions that will import within 90 days. If you want to import more than 90 days of credit card transactions, then you have to skip the CSV file section of this course.
  • Click to Connect- 
    If Once you click Connect you are all transactions will be imported into QuickBooks. Fortunately and unfortunately there is no back button or undo button.
  • Completely Imported your Transactions-                                                                                                         
    • Once all the Transaction has imported successfully, you saw a message will be displayed:
    • The Transaction download was successful.
    • In the end, you can review your Imported Transaction at any time.

Conclusion

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 importing credit card transactions in Quickbooks, then you can leave a comment or hire any certified Quickbooks ProAdvisor.

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