Import Bank Transactions into Quickbooks Online
How does QuickBooks Bank Statement Import work?
Let's assume that we have a file that contains the following bank statement.
|23/12/18||Telephone Bill Payment||2121221 1||-900|
Bank Statement has Deposit and Expenses. To import Deposits and Expenses (Checks) into QuickBooks, we need to mention
1. Income Accounts
2. Expense Accounts
3. Customer or Vendor Names
Let's modify the file to add the above details.
|23/12/18||Subscription payment||12123733||100||Uncategorized Income Account||John|
|23/12/18||Telephone Bill Payment||2121221 1||-900||Telephone Expense Account||Telephone Company 1|
Now we can import this file using SaasAnt Transactions (Online).
If the transaction has a POSITIVE Amount, it will be considered as Deposit.
If the transaction has a NEGATIVE Amount, it will be considered as an Expense/ Check.
If you want to change the Transaction Type, then you can add one more column Transaction Type and mention one of the below value
The important step in the import is to map your file headers to the QuickBooks field in Step 3 of the import. Some key steps below:
- You need to map your file headers to "SaasAnt Transactions (Online)" fields. This mapping will enable us to import your transactions properly in to QuickBooks company.
- In the mapping screen, we have the "Preview Mapping" button which can help you to visualize your current mappings as per the QuickBooks screen with your file headers.
- Please refer basics of field mappings for more info. If you have any confusion or doubts, feel free to drop an email to firstname.lastname@example.org.
How to Import Bank Transactions into QuickBooks Online (New User Interface 2.0)
6) Select the files you want to upload
7) Set up the Mapping of the columns in your Bank statement
|Check No||21 Characters||Check Number or Reference number for the transaction.|
|Payee||Characters||Name of the vendor / Customer / Employee for this transaction.|
|Bank Account||Characters||Name of the Bank / Credit Card / Cash Account for this transaction.|
|Date||Date||The date entered by the user when this transaction occurred.|
|Description||4000 Characters||The Description of the Expense or Deposit Transaction.|
|Account||Characters||Reference to the Expense Account Name or Income Account Name associated with the transaction.|
|Amount||Decimal||The amount of the transaction.|
POSITIVE Amount will be considered as Deposit Amount
NEGATIVE Amount will be considered as Expense/ Check
|Credit Amount||Decimal||Deposit Amount|
|Debit Amount||Decimal||Expense/ Check Amount of the transaction|
|Transaction Type||Characters||Type of the transaction.|
Allowed Values : Check, Expense, Deposit