Import a CSV transaction file into Quickbooks

This tutorial shows how to convert a CSV or Excel file with transactions to QBO (Web Connect) format and import into Quickbooks. We will use CSV2QBO utility.

We will use a sample.csv file. You can find it on the ProperSoft product page https://www.propersoft.net/products/csv2qbo

A sample file has Date, Amount, Payee, Memo, Check.

There are Debit transactions.

There is a Credit transaction.

In most cases, you don’t need to do anything else, just click the ‘Convert’ button. But you still have to review transactions before importing to see how the converter understands your file, what are your settings. And you have all the controls you need to import your file successfully.

On the left side, we have input file controls: you can map your CSV file; you can set expected date format if it is not obvious to the Parser; if your Dates are missing year, you can set it; if it is obviously Credit Card you can check the box, so it will reverse the sign of expenses to negative and payments to the account make it positive. And if it is not obvious, check that expenses are negative regardless if it is a Checking account or Credit Card account. Expenses must be negative and payments to the account or deposits must be positive. If it’s not the case like in this example, then click the ‘Change +/-’ button once per file to reverse that.

On the right side, we can see Account Type, which is important to set for QuickBooks. If it’s Checking or Credit Card, enter the Account Number. If you are importing just for one account, you can leave the default, that’s fine. End balance, Bank ID, Branch ID, Encoding settings you can leave the default or you can set them if you know, that you need to set them. Otherwise, the converter will use some good default values.

There is INTU.BID value ‘3000’, which is the “Wells Fargo” default value. You can look up your bank if you like or you can leave the default value if your bank is not listed or is not listed for specific Account Type. The transaction tab shows how the converter understands your data: it picks up the date, picks up the Amount column, correctly picks up the Payee column, picks up the Check.

And all we need to do is just click on the ‘Convert’ button and create a QBO file.

Now we switch to Quickbooks. Before importing a QBO file, check the ‘Chart of accounts’. That Bank you need to import into, let’s say, for example Checking account, doesn’t have a yellow strike icon. Because if you have a yellow strike icon, it means you downloaded directly from your Bank. You need to disconnect first to import any QBO files. It’s not just the converter limitations, Quickbooks limitation that doesn’t import QBO files, unless if you’re already connected to directly download from your bank.

For example, the Credit Card account has a yellow strike icon.

To disconnect, right-click ‘Edit account’.

Then click ‘Bank Feed Settings’, select ‘Deactivate all online services’ and then ‘Save and Close’. And now there is no yellow strike icon, so you can proceed for both of these accounts. We created a Checking account, so we will import into the existing Checking account.

Now go to ‘File’ — ‘Utilities’ — ‘Import’ — ‘Web Connect Files’. Then open a QBO file.

It shows the Account number we enter ‘12345’, it shows “Wells Fargo Bank”, which is INTU.BID ‘3000’. And we choose ‘Use existing Quickbooks account’, then look for that Checking account and click the ‘Continue’ button.

Now data is successfully read into QuickBooks.

Where is this Data is? Data is shown under Bank Feeds. “Wells Fargo” label is only at this place, where you see it. The actual account, that you are choosing during import, that existing account, does the bank account, where data will go. But you have to review them in the Bank Feeds. Click on the ‘Transaction List’.

You have to select the Payee. As you see, in this example, the QuickBooks already select the Payee for you, based on the previous imports. The Payee from the QBO file is shown under ‘Downloaded as’. Payee here is an actual Vendor record in QuickBooks, so you can choose it and QuickBooks will remember your choice for the next QBO import.

Then mark all transactions or select the Payee, select expense account.

Then say ‘Add/Approve’. Done.

This is the rename rule creation when you select a certain Vendor for that ‘Downloaded as’ Payee name, QuickBooks will offer you to select to create a rule to use it for next time.

That’s it.

Originally published at https://www.propersoft.net.

www.propersoft.net — need to import transactions, but the file format is not supported? Try ProperSoft converters.