馃攳
Lesson 9 How To Import Banking Transactions In QuickBooks Online 2016 - YouTube
Channel: FitSmallBusiness
[0]
welcome to the Fit small business
[1]
QuickBooks Online training course in
[4]
this lesson we're going to cover how to
[6]
import banking transactions into
[8]
quickbooks online to follow along with
[10]
me log in to your quickbooks online
[12]
account now or click the link below this
[15]
video for a free 30-day trial of
[17]
quickbooks online you can also click
[19]
this link to access our full quickbooks
[21]
online course and other helpful
[23]
resources let's get started one of the
[26]
many benefits of quickbooks online is
[28]
that you can save a lot of time by
[30]
automatically downloading your banking
[32]
transactions into quickbooks instead of
[34]
manually inputting each transaction
[36]
while most big banks like Bank of
[39]
America allow you to quickly and easily
[41]
connect to QuickBooks some of the
[43]
smaller banks and credit unions do not
[45]
have that capability at fit small
[47]
business we have a Bank of America
[49]
account that we sync up with QuickBooks
[51]
if you are interested in opening a
[53]
business checking account we recommend
[54]
you check out Bank of America click this
[57]
link for more information if you don't
[60]
have a business bank account and you're
[61]
using a personal bank account then I
[63]
recommend getting a separate bank
[65]
account for your business as soon as
[66]
possible and then connect it to
[68]
QuickBooks it is always best practice
[70]
from an accounting and tax standpoint to
[73]
keep business activities completely
[75]
separate from personal for the purposes
[77]
of this video we will use a fictitious
[79]
company called paul's plumbing as you
[82]
view this video think about how the
[84]
information might differ for your
[85]
business in order to connect your bank
[88]
account to QuickBooks you will need your
[90]
online banking user ID and password to
[92]
log in to your bank account to begin
[95]
after you sign into your QuickBooks
[97]
Online account from the left menu bar
[100]
click on transactions and then banking
[103]
if this is the first time you're
[105]
connecting a bank account to QuickBooks
[106]
you won't see this screen instead you
[109]
will see the next screen which we will
[110]
which will allow you to search for your
[112]
bank
[112]
click on the blue Add Account button and
[115]
in this field you can type your bank
[118]
name in the search box or you can select
[121]
from the list of bank's right below the
[123]
search box Paul wants to set up his
[126]
checking account at Bank of America if
[129]
you are unable to locate your bank then
[131]
you will need to import your banking
[133]
term
[133]
actions using a CSV format which we will
[136]
cover later in this lesson go ahead and
[139]
enter your user ID and password that you
[141]
normally use to access your bank account
[143]
and click the login button depending on
[146]
your internet connection and the number
[148]
of accounts that you have it may take a
[150]
few minutes for QuickBooks to connect to
[152]
your bank once it does you should see a
[155]
screen similar to this one that will
[157]
list all of your accounts that you have
[159]
at the same you want to place a
[161]
checkmark in the first column next to
[163]
each account that you would like to
[164]
connect to QuickBooks next we want to go
[167]
ahead and select the QuickBooks account
[170]
that you want to link this bank account
[172]
to if you have not set up the account in
[174]
QuickBooks yet go ahead and click add
[176]
new and we'll go ahead and set up the
[178]
account in QuickBooks this is the
[181]
account setup window with the fields
[183]
that we need to complete the first field
[185]
is the account type here we want to
[188]
select the type of account that we are
[190]
downloading transactions for typically
[192]
this is going to be either a bank
[194]
account or credit card we're going to go
[198]
ahead and set up a checking account so
[199]
we will select bank detail type here you
[202]
want to provide more information on the
[204]
type of bank account since we're setting
[206]
up a checking account we'll select
[208]
checking and in the name field you want
[212]
to enter your bank name the type of
[214]
account checking and then you want to
[217]
also include the last four digits of the
[220]
account number this will allow you to
[222]
easily tell one bank account from
[224]
another when you are writing checks and
[226]
reconciling the account double check to
[229]
make sure that you have made all the
[230]
selections in the fields and when you're
[232]
ready go ahead and click the save and
[234]
close button back on this next screen
[236]
now you can see that we've got our new
[239]
Bank of America checking account that we
[241]
set up in QuickBooks and connecting to
[243]
this Bank of America checking account
[245]
before you click the connect button you
[248]
always want to double check to make sure
[249]
that you do not select any accounts that
[251]
you do not want to keep track of in
[253]
QuickBooks for example personal accounts
[255]
once we click connect all transactions
[258]
will be downloaded into QuickBooks
[260]
unfortunately there is no automatic undo
[263]
button later on if you find out that the
[266]
accidentally
[267]
selected an account that you do
[268]
not want connected to QuickBooks then
[270]
you will need to manually delete all of
[272]
those transactions before you can delete
[274]
the account from QuickBooks depending on
[277]
the number of accounts you've selected
[278]
and the date range this process could
[281]
take a while to complete once the
[284]
transactions have successfully
[285]
downloaded into QuickBooks you should
[288]
see a message that says that we have
[290]
successfully downloaded your
[291]
transactions like this one here once you
[294]
see that we are ready to go ahead and
[297]
click the let's go button in the lower
[299]
right hand corner which will take us to
[302]
a page where we can actually review the
[304]
transactions that downloaded here in the
[306]
banking center we are able to see a tab
[310]
that says for review all of the
[312]
transactions that have downloaded will
[314]
appear on the fuel review tab to learn
[317]
how to manage making transactions after
[318]
they are downloaded watch our video
[321]
tutorial on how do I manage downloaded
[323]
banking transactions to add another
[326]
account just click the blue add account
[328]
button here if you have bank accounts at
[330]
multiple banks that you want to track in
[332]
QuickBooks then you will need to repeat
[334]
this process for each Bank where you
[336]
have business accounts that you want to
[337]
track in QuickBooks that's it for how to
[340]
automatically connect the bank account
[342]
to QuickBooks Online when to import
[345]
banking transactions using a CSV file if
[348]
you were not able to automatically
[350]
connect your bank account to QuickBooks
[352]
or if you need to download more than 90
[354]
days of banking transactions then it is
[357]
important for you to understand how to
[358]
import your banking transactions using
[361]
an Excel format called CSV to obtain
[364]
this type of file log in to your bank
[366]
account and go to the section where you
[368]
can download transactions or bank
[370]
statements most likely you will have the
[372]
option to download your transactions in
[374]
multiple formats if you don't see either
[377]
of these options CSV or qbo then contact
[381]
your bank let them know that you would
[383]
like to download your banking
[384]
transactions into QuickBooks and you
[386]
would like to know how to do that from
[388]
their website to begin import go ahead
[393]
and click the drop down arrow to the
[394]
right of the update button and select
[397]
File upload on the next screen you want
[401]
to browse to the location where you have
[403]
saved the import file on your computer
[406]
so go ahead and click the Browse button
[408]
once you locate the file you want to go
[412]
ahead and click on that file and then
[414]
you want to click open and then we'll go
[417]
ahead and select next on this next
[423]
screen we want to go ahead and select
[425]
the QuickBooks account that we want to
[427]
link to this bank account since we've
[430]
already set up the account in the
[432]
previous lesson we'll go ahead and
[433]
select Bank of America checking here and
[437]
click Next
[439]
from this screen what we want to do is
[442]
we want to map the quickbooks online
[444]
fields with the fields from the bank
[447]
statement file and so what we'll do is
[450]
we'll go in and we will let QuickBooks
[454]
know what column the data appears in the
[457]
file that we want to import the data
[459]
from so the first item that we want to
[463]
take care of is if your CSV file has a
[466]
header row make sure to check the box at
[469]
the top left of this screen let's go
[472]
ahead and map our fields the first field
[475]
is the date field so from the drop down
[478]
we want to select the column in the
[481]
spreadsheet that has the date
[482]
information so it looks like that will
[484]
be column one here we also have the
[486]
option to select a date format so we'll
[490]
make that selection the next field is
[494]
the description so the description field
[497]
in the spreadsheet looks like that's
[499]
going to be column two so we'll go ahead
[502]
and select that
[503]
and then the last field is the amount
[507]
field and so we'll go ahead and select
[511]
column six where we have the dollar
[513]
amount in the field here now for dollar
[517]
amount bank files typically have one
[521]
column which will have positive numbers
[523]
and negative numbers negative numbers
[526]
typically represent deposits and the
[529]
positive numbers typically represent
[531]
withdrawals and
[533]
you have to tell QuickBooks if your file
[535]
has one column or two column with the
[538]
positive and negative numbers in it so
[540]
for this particular file our file has
[542]
two columns so we definitely will make
[545]
that selection and then once we do that
[548]
we'll have to let QuickBooks know which
[550]
column has the positive numbers in it
[553]
and which column has the negative
[555]
numbers in it and once we've done that
[558]
we can click Next on this screen
[562]
QuickBooks is showing us a list of the
[564]
transactions that are ready to import so
[569]
it's important to make sure that you
[572]
review this and make sure that all the
[574]
transactions that you expect to import
[576]
into QuickBooks are selected here it's
[580]
also important for you to verify that
[582]
the information is correct is the date
[585]
does the date column show dates does the
[587]
description column show description does
[590]
the amount column show amount here if at
[593]
any point in time information is not
[595]
correct or you need to make changes you
[597]
can go back and do so by clicking the
[600]
back button but if you are happy with
[603]
the selections you can click Next and
[605]
QuickBooks will let you know how many
[608]
transactions will be imported so here as
[611]
you can see we will import a total of
[613]
223 transactions that's quite a bit of
[617]
transactions to import first time around
[619]
so my suggestion is you want to import a
[623]
small batch of transactions at first so
[626]
let's go back and let's remove the check
[629]
mark for all transactions and for this
[632]
particular example we will just import
[636]
all of the transactions for the month of
[638]
January so that way if anything goes
[642]
wrong or information doesn't appear in
[644]
the right places we've got a smaller
[646]
group of transactions to correct and so
[650]
we'll go ahead and make those selections
[651]
and then we'll click Next again and this
[655]
time around we've got 26 transactions so
[658]
much better so we are happy with that go
[661]
ahead and click yes and the transactions
[665]
will import into QuickBooks
[667]
and once that happens we will get a
[669]
message that says we have been
[672]
successful fantastic so we are ready to
[676]
click the let's go button and this will
[678]
take us back to the banking center where
[681]
we can actually review the transactions
[684]
on the for review tab that have been
[686]
imported to learn how to manage
[689]
downloaded transactions please watch our
[692]
video tutorial on how to manage banking
[695]
transactions in QuickBooks if you'd like
[699]
to add another account just click the
[703]
blue button up here at the top or if
[705]
you'd like to import a new file with
[709]
additional transactions click the file
[711]
upload option here that's it for today
[715]
that wraps up the section on how to
[717]
import banking transactions into
[719]
quickbooks online to access this course
[722]
or any of the others in the series just
[725]
click this link for a free 30-day trial
[728]
of QuickBooks Online click the links
[730]
below this video if you have feedback
[733]
about this course or if you have any
[735]
questions please leave a comment below
[737]
also don't forget to subscribe
Most Recent Videos:
You can go back to the homepage right here: Homepage