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How to Import Credit Card Statements into QuickBooks Desktop?

Import Credit Card Statements from Supported File Formats directly into QuickBooks Desktop using SaasAnt Transactions - #1 user rated and Intuit trusted bulk data automation tool built exclusively for QuickBooks.

SaasAnt Transactions 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 a detailed installation instruction.

Basic Import Steps

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.

Click Import button in the Dashboard screen or Import option from the File menu in the menubar to navigate to  File Selection screen of the Import wizard(Step 1).

  • Step 1 - File Selection: Select "QuickBooks Transaction Type" as "Credit Card Statement". "Select Your File" - You can either click "Browse File" to browse and select the file from local computer folder or click "Sample Templates" to navigate to SaasAnt sample file in local.
  • 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 instruction of the steps are available in this article.





How does it work?

Let's assume that we have a file which contains following credit card statement.

DateDescriptionAmount
23/12/18Purchase of Phones
-100
23/12/18 Bill Payment900


Credit card statement statement has Charges for Vendors and Credit/Refunds from Vendors.To import Charges(Expense) and Refunds ,we need to mention  

1. Credit Card Account

2.Expense Accounts

3.Customer or Vendor Names

Let's modify the file to add above details.

DateDescriptionAmountCredit Card AccountAccountPayee
23/12/18Purchase of Phones-100AmexUncatergorized Expense AccountJohn
23/12/18 Card Payment900Amex
Telephone Expense AccountTelephone Company 1

Now we can import this file using SaasAnt Transactions.

  • If the transaction has POSITIVE Amount, it will be considered as Expense /Charges.
  • If the transaction has NEGATIVE Amount, it will be considered as Credits/ Refunds .

If the file has separate columns for Credit and Debit, It can be be directly mapped too.


Statement Line as Credit Card Charge


Statement Line as Refund 



Mapping QuickBooks Fields


Field NameFormatDescription
Statement No
Text (Max Length: 11 Characters)
Statement No for Credit Card Credit Transaction
Date *
DateThe date when this transaction occurred.
Credit Card Account *
Reference Text
Name of the Credit Account for this transaction.
Name or Account Number can be given.
Payee *
Reference Text
Reference to Vendor,Employee or Customer.
Name , Account Number or Custom Field Value can be given.
Account *
Reference Text
Reference to the Expense Account Name or Income Account Name associated with the transaction.
Name or Account Number can be given.
Amount *
DecimalThe amount of the transaction.
NEGATIVE Amount will be considered as RefundAmount
POSITIVE Amount will be considered as Expense/ Check
Credit **
Decimal
Refund Amount
Debit **
Decimal
Expense Amount
Memo
Text (Max Length: 4095 Characters)

Customer
Reference Text
Name of the customer associated with this expense or refund.
Billable Status
Boolean ( True / False)Is the customer to be billed ?
Class
Reference Text

Currency
Currency Code 3 Letter Currency Code Ex: USD,EUR
Exchange Rate
Decimal

 

All (*) marked fields are mandatory. 

Import Settings

A host of powerful customisations for your file data is available with Import Settings. This is available in the  Step 3: Review & Import screen or directly under "Edit" Menu in the menubar. Some of the very useful settings for transaction includes:

  • Find Matching Transactions in QuickBooks by: Identifier to locate existing transactions in your QuickBooks.
  • Action When a Matched Transaction Found: If an existing transaction is found for the above setting identifier then the corresponding action to be taken. You can choose to Duplicate/ Ignore/ Update/ Append existing transaction in your QuickBooks.
  • Pre-Import Validation: Validate the complete file before importing to QuickBooks. By turning this setting ON, file rows will be imported only after cleaning up all the issues in file. This option however will delay the import.

More details about the settings related to Automatic creation of Items, Assigning reference number 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:


  • 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 


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