QuickBooks provides quite a lot of utilities to its users, one of them is that it allows the users to import credit card transactions into QuickBooks automatically, instead of doing it manually. The user does not have to input each of the transactions manually as now days most of the major banks allow the user to automatically import entries into QuickBooks.
It is recommended that to import transactions within QuickBooks, the user must have a business credit for the purpose instead of personal credit card.
This article will give the user the steps that needs to be followed on how to Import Credit Card entries within QB.
Import Credit Card Transactions into QuickBooks:
- Login to your Credit card account and QuickBooks simultaneously.
- After that click on the Banking tab.
- On that page on there is the Add Account tab on the upper right hand corner, click on it.
- It will open a new page where the user can either select the credit card name from the list given or type the name in the space provide above.
- Once the bank name is typed, a new page will open that will ask the user to type the Online ID and Password for the credit card.
- Once those details are provided, login, but do not panic as it might take a while for QuickBooks to log in to the user’s credit card account.
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- Once QuickBooks logs into the account the user should check the box next to the account that the user would like to connect to the QuickBooks.
- Next underneath the QuickBooks Account the user needs to set up the bank account with the QuickBooks Account if that is not already done.
- On ‘Adding New’ a new page will open and under account type select Credit Card. Next type the name of the bank and the last four digits of the account number under the section ‘Name’. Under the Description’ enter the same information as typed under ‘Name’ and then click on ‘Save & Close’.
- Next click on ‘Connect’.
- Once it is done, QuickBooks will automatically start downloading the transaction, it might take a while, depending on the period of transaction of the card.
- Once the download is done a message ‘we successfully downloaded your transaction. Hooray!’ will appear on the screen.
- Now the user should click on the ‘Let’s Go’ button.
- It will take the user to the Banking section.
- Go to the ‘For Review’ icon . This will show the credit card account and transactions that has been automatically downloaded.
In case the above process will not let you Import Credit Card Transactions Into QuickBooks or you have more than 90 day’s transaction needs to be imported then it can be done using an excel.csv or .qbo file. For this follow the steps below:
- Log into the credit card account online and select the download transaction and statements.
- This will give the options to download the statement into either excel.csv or .qbo file.
- If it is not there then the user should contact the credit card company and ask them to give the format as the user needs to download the transaction to QuickBooks.
- Once the file is downloaded the user can upload the file on QuickBooks.
- Link it to the file to the credit card account
- Input the date for the transaction that is required to be imported
- This will import credit card transaction details.
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