Convenient Ways To Import Transactions Into QuickBooks Online

Have you recently switched to QuickBooks Online? Then you will most probably need access to your previous transactions from past accounting software. There is an easy way to Import transactions into QuickBooks Online as it is a cloud-based version. 

This means that you no longer need to face all of the hassles that are related to transferring data from one software to another one record at a time. You can even connect this application to your bank accounts and view older transactions or link payment accounts to facilitate credit card transactions. 

Despite these possible obstacles, importing makes it simpler to keep track and effectively handle the employee payroll management system. There are two main ways to do this- by downloading directly along with completing this task manually with the help of Excel. 

How to Import Transactions into QuickBooks Online? 

In some cases, it is necessary to do both- first the direct download and then the manual import. Both of these methods are very simplified and have been mentioned below. 

Method 1- Connect a bank account to QuickBooks Online 

The first thing to do here is to ensure that your bank account can be accessed by QBO. If yes, then you can easily add it to your list of banks connected with QBO and proceed.

Once that is done, you can also link the ones which you want to collect your credit card payments into from your customers.

Here are the steps for this-

Step 1- Create an account in your software so that it knows where to download or upload your transactions. You can do this in the Chart of Accounts section.

Step 2- Now you can link this newly created account to your actual, existing bank account.

●     Select the Banking option on the menu and click the Add Account button.

●     Add the link to your bank’s website or just the bank name.

●     Enter the user id and password to Sign In to your account along with any necessary changes if asked.

●     You will now be asked which account you want to connect to the one you created in step 1. Choose carefully from the list of options in case you have entered multiple bank accounts in the Chart of Accounts.

This method allows you to download only 90 days of transactions, which is why you will have to try the other method if you want older ones.

Method 2- Manual Downloading of transactions through CSV files

The goal here is to have files in a format that QBO can understand in order to read and accept it. There are certain tasks to follow here-

Step 1- Make sure your CSV file has the right layout, for example, there shouldn’t be any empty rows and the date has to be in the correct format.

Step 2- You will have to select a format that best suits you while showing all of your Debit and Credit records as well.

Step 3- Once all of the formatting’s done, simply open your QBO application and upload this file into it.

One of the few conditions here, that could be an issue for you, is that only the records of up to ninety days from the past can be imported into QBO. For example, if you switched to QBO at the end of June, like the 29th, then you will only get access to records of up to April 1- three months.

You will also have to determine whether the bank in which your company has an account even allows integration with QBO. This is because of the thousands of banks that exist here and the fact that they are not all covered under this function at the moment. Still, it is quite convenient to Import Transactions into QuickBooks Online and you can do so in very less time.