QuickBooks Online accounting software offers multiple options for recording credit card transactions, enabling you to effectively track expenses and maintain accurate financial reports. Importing transactions with SaasAnt Transaction is a seamless process, thanks to our simplified and powerful Import wizard. We have introduced a new feature to import your credit card statements
How does it work?
Let's assume that we have a credit card statement file that contains the following transaction information.
|23/06/2023||Purchase #ABC REF1203||200|
|23/06/2023||Purchase #Mech REF1204||200|
Let's modify the file to add the above details.
|Date||Description||Amount||Bank Account||Category Account||Payee|
Credit Card Account
|23/06/2023||Purchase #ABC REF1203||200||Uncategorized Expense Account||Elvis||Credit card account|
|23/06/2023||Purchase #Mech REF1204||200||Telephone Expense Account||Telephone Company|
|23/06/2023||Payments||-400||Checking Account||Credit card company||Credit card account|
|28/06/2023||Refund||-200||Purchase expense||John||Credit card account|
- If a transaction has a positive amount, it will be considered as a credit card credit or a refund transaction.
- If a transaction has a negative amount, it will be considered an expense transaction.
- If a payment is made against the credit card company from your bank account, it will be considered a transfer transaction.
Note: If you want the freedom to record transactions based on their respective transaction types, you can choose to add a column named "Transaction Type" to the statement. In this column, you can specify the transaction type as "Expense," "Credit Card Credit," or "Transfer" for each row.
How to import the Credit card statement?
Step 1) Log in to theSaasAnt Transaction Online
Step 2) Select on the New Import Menu.
Step 3) Click on 'Transactions' and then select the entity as Credit Card Statement.
Step 5) Set up the Mapping of the columns in your Credit card statement.
Step 6) Review
Step 7) Select the Upload tab.
Step 8 ) The data was imported successfully into Quickbooks.