How to Import Bank Transactions into QuickBooks Desktop?
January 1, 2025
Table of Contents
What are the Ways to Importing Bank Transactions to QuickBooks Desktop?
How does it Work?
How to Map QuickBooks Fields?
Why to Import Settings?
FAQs
Import Bank Statements from Supported File Formats directly into QuickBooks Desktop using SaasAnt Transactions (Desktop) - the #1 user-rated and Intuit-trusted bulk data automation tool built exclusively for QuickBooks.
SaasAnt Transactions (Desktop) supports QuickBooks Pro, Premier, Enterprise, and Accountant Editions.
You can download the free trial of the software directly from the SaasAnt Website. Follow this article for detailed installation instructions.
What are the Ways for Importing Bank Transactions to QuickBooks Desktop?
Importing with SaasAnt Transaction is a breeze with our simplified and powerful Import wizard. Just follow a simple 3-step process to bulk import your file data to QuickBooks. You can easily import bank transactions into QuickBooks desktop from excel.
Click the Import button in the Dashboard screen or the Import option from the File menu in the menubar to navigate to the File Selection screen of the Import Wizard(Step 1).
Step 1 - File Selection: Select "QuickBooks Transaction Type" as "Bank Statement". "Select Your File" - You can either click "Browse File" to browse and select the file from the local computer folder or click "Sample Templates" to navigate to the SaasAnt sample file locally.
Step 2 - Mapping: Set up the mapping of the file columns corresponding to QuickBooks fields. This step will be automated for you if you use the SaasAnt template file. Download Sample Template file.
Step 3 - Review & Import: Review your file data in the Review Grid screen and click "Send to QuickBooks" to upload your file data to QuickBooks.
More detailed instructions on the steps are available in this article.
How does it work?
Let's assume that we have a file that contains the following bank statement.
Date | Description | Check No | Amount |
23/12/18 | Subscription payment | 12123733 | 100 |
23/12/18 | Telephone Bill Payment | 2121221 1 | -900 |
The Bank statement has deposits and Expenses. To import Deposits and Expenses (Checks), we need to mention
Bank Account
Income Accounts
Expense Accounts
Customer or Vendor Names
Let's modify the file to add the above details.
Date | Description | Check No | Amount | Bank Account | Account | Payee |
23/12/18 | Subscription payment | 12123733 | 100 | HDFC | Uncategorized Income Account | John |
23/12/18 | Telephone Bill Payment | 2121221 1 | -900 | HDFC | Telephone Expense Account | Telephone Company 1 |
Now, we can import this file using SaasAnt Transactions (Desktop).
If the transaction has a POSITIVE Amount, it will be considered as a Deposit.
If the transaction has a NEGATIVE Amount, it will be considered as an Expense/ Check.
If the file has separate columns for Credit and Debit, It can be directly mapped, too.
Bank Statement Line as Deposit
Bank Statement Line as Check
Field Name | Format | Description |
|---|---|---|
Date * | Date | The date when this transaction occurred. |
Bank Account * | Reference Text | Name of the Bank / Cash Account for this transaction. |
Check Number | Text (Max Length: 11 Characters) | Check Number or Reference number for the transaction. |
Description | Text (Max Length: 4095 Characters) | The Description about the Expense or Deposit Transaction. |
Payee * | Reference Text | Reference to Vendor,Employee or Customer. |
Account * | Reference Text | Reference to the Expense Account Name or Income Account Name associated with the transaction. |
Amount * | Decimal | The amount of the transaction. |
Withdrawal ** | Decimal | Expense Amount |
Deposit ** | Decimal | Sale Income Amount |
Class | Reference Text | |
Customer | Reference Text | Customer name associated with this deposit. |
Memo | Text (Max Length: 4095 Characters) | |
Billable Status | Boolean ( TRUE/FALSE) | |
Currency | Currency Code | 3 Letter Currency Code Ex: USD, EUR |
Exchange Rate | Decimal |
All (*) marked fields are mandatory.
Why to Import Settings?
A host of powerful customizations for your file data is available with Import Settings. This is available in the Step 3: Review & Import screen or directly under the "Edit" Menu in the Menubar. Some of the very useful settings for transactions include:
Pre-Import Validation: Validate the complete file before importing it to QuickBooks. By turning this setting ON, file rows will be imported only after cleaning up all the issues in the file. This option, however, will delay the import.
More details about the settings related to the Automatic creation of Items, Assigning reference numbers from the file, etc, are available in this article.
FAQ's
Most of us would have some questions while moving data to your QuickBooks Online. Some of them for your reference below:
I want to import the Bank Statement with Check Numbers from the File. Is it supported?
Yes. It is supported.
Will your application support multi-line transactions?
Yes. It will.
I made some mistakes in the Import, and my QuickBooks reports got corrupted. Is there any way to undo or revert my Import?
It is possible to undo the import completely/ partially with the Delete feature.
Does your app support taxes?
Yes. It does.
My file has some specific date format. I don't want to change the file. Will your product support all date formats?
Yes. You can select the specific date format as per your requirement in the import settings.
Do you have any sample templates?
Yes. We do have. Sample Template
What are the file types supported by your application?
TXT, CSV, XLS, XLSX etc. Supported File Formats
How do I report the issues if I am stuck?
Feel free to drop an email to [email protected]