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How to Import Bank Transactions into QuickBooks Online (U.S)?

Import Bank Transactions into Quickbooks Online


You can import bank statements from text files or Excel spreadsheets directly into QuickBooks Online using SaasAnt Transactions (Online) software.


Pre Requisites:

Connect your QuickBooks Online account to SaasAnt Transactions (Online) App from QuickBooks AppStore by clicking the "Get App Now" button and get the 30 days free trial [No credit card required].


How does QuickBooks Bank Statement Import work?


Let's assume that we have a file that contains the following bank statement.


                          

DateDescriptionCheck NoAmount
23/12/18Subscription payment12123733100
23/12/18Telephone Bill Payment2121221 1-900


Bank Statement has Deposit and Expenses. To import Deposits and Expenses (Checks) into QuickBooks, we need to mention 


1. Income Accounts

2. Expense Accounts

3. Customer or Vendor Names


Let's modify the file to add the above details.


DateDescriptionCheck NoAmountAccountPayee
23/12/18Subscription payment12123733100Uncategorized Income AccountJohn
23/12/18Telephone Bill Payment2121221 1-900Telephone Expense AccountTelephone Company 1


Now we can import this file using SaasAnt Transactions (Online).


If the transaction has a POSITIVE Amount, it will be considered as Deposit.

If the transaction has a NEGATIVE Amount, it will be considered as an Expense/ Check.


If you want to change the Transaction Type, then you can add one more column Transaction Type and mention one of the below value

1. Check

2. Expense

3. Deposit


Steps to Import Bank Transactions into QuickBooks Online:


To import bulk/batch bank statements into QuickBooks Online using the SaasAnt Transactions (Online) application, follow the steps below


Click on the "Upload File" Menu and upload your file.


Step 1: Select your file and spreadsheet which has the expense that you want to import.


Step 2: Select the QuickBooks entity as Bank Statement.


Step 3: Set up the mapping of the columns in your expense import file to the corresponding fields in QuickBooks (Refer below Section).


Step 4: Click Import and your expenses will be directly added to your QuickBooks company.




The important step in the import is to map your file headers to the QuickBooks field in Step 3 of the import. Some key steps below:

  • You need to map your file headers to "SaasAnt Transactions (Online)" fields. This mapping will enable us to import your transactions properly in to QuickBooks company.
  • In the mapping screen, we have the "Preview Mapping" button which can help you to visualize your current mappings as per the QuickBooks screen with your file headers.
  • Please refer basics of field mappings for more info. If you have any confusion or doubts, feel free to drop an email to support@saasant.com.



Import Bank Statements into QuickBooks Online


How to Import Bank Transactions into QuickBooks Online (New User Interface 2.0)


To import bulk/batch bank transactions into QuickBooks Online using the SaasAnt Transactions (Online) application, follow the steps below,


1) Login into SaasAnt Transaction Online


2) Select the New Import Tab.



3)  Select Let's import 


4) .  Select TransactionList, or Attachment to upload your file into QuickBooks. 



5. Select the QuickBooks entity as Bank Statements 



6) Select the files you want to upload 



7) Set up the Mapping of the columns in your Bank statement




8) Select the "Preview Mapping" button to visualize current mapping based on QuickBooks




9) Select the Upload Tab 



10) The data was imported successfully into Quickbooks. 



SaasAnt Transactions (Online) Fields


Field NameFormatDescription
Check No21 CharactersCheck Number or Reference number for the transaction.
PayeeCharactersName of the vendor / Customer / Employee for this transaction.
Bank AccountCharactersName of the Bank / Credit Card / Cash Account for this transaction.
DateDateThe date entered by the user when this transaction occurred.
Description4000 CharactersThe Description of the Expense or Deposit Transaction.
AccountCharactersReference to the Expense Account Name or Income Account Name associated with the transaction.
AmountDecimalThe amount of the transaction.
POSITIVE Amount will be considered as Deposit Amount
NEGATIVE Amount will be considered as Expense/ Check
Credit AmountDecimalDeposit Amount
Debit AmountDecimalExpense/ Check Amount of the transaction
Transaction TypeCharactersType of the transaction.
Allowed Values : Check, Expense, Deposit


Please find the Bank Transactions template attached here for your reference:

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