If you want to import bank transactions into QuickBooks by using Excel CSV files, here we are going to explain how you connect your bank account to QuickBooks automatically. If you cannot find your bank in QuickBooks Online and if you want to download your banking transactions. Then, you will require to import your banking transaction in the form excel format which is called CSV or QBO file.

CSV is a simple file format used for tabulating, like a database or spreadsheet. And, it can be imported or exported from a program that stores data in a table. This will help you to track the bank transaction details of your business. So let’s know, how to import the transactions in QuickBooks.

To Import Bank Statements into QuickBooks

Here is the procedure to import bank transactions into QuickBooks. Follow the steps to import all the bank statements, but before that, open your bank transaction list, and recheck it again. And if you are unable to find out the location of the transaction list then, use the run QuickBooks scan manager. It will help you to detect the bank transactions in QuickBooks.

  • First of all, empty your bank statements which are downloaded in Excel or CSV format
  • Next, in the QuickBooks Payroll copy and paste your statements
  • After that, add numerous vendors and customers utilizing add various list entries tools
  • Just one click, all transaction in QuickBooks will be rearranged
  • At last, using recategorized statements classify the statement from sort function to quickly assign the transaction to their suitable accounts in QuickBooks

How to Import Bank Transactions using Excel CSV Files In QuickBooks

We can import bank transactions by using the both excel, and CSV files. So here we have given the both procedure for the process.

Steps to Import Transaction Automatically with Excel

Follow the three steps to import the statements automatically:

Step 1: Locate your Bank

  • Firstly, log in to QuickBooks Online, and choose transactions, and then Banking from the left menu bar.
  • After that, tap the green connect account button to add a bank account.
  • Next, When you see that your bank account is not listed then you will have to import your bank transactions with a QuickBooks Online file or by Excel utilizing a CSV file
  • Lastly, choose your bank, tap the green pursue button to be taken to your bank’s login page automatically

Step 2: Log into your Bank Account

  • Firstly, QuickBooks will open a new web browser for you to log in to your bank account
  • When you logged in, the bank asks you to validate that you want to share your banking details with Intuit and give a synopsis of the detail to be shared. If you allow, tap the relevant button on your bank’s confirmation page, and taken back to QuickBooks

Step 3: Join Bank Accounts to Chart of Accounts

  • Back to QuickBooks, you are giving a list of accounts with the bank that you already have.
  • Choose all the bank accounts where you want to link to QuickBooks Online. After that, you tap on an account, a drop-down will list the bank account insert in your chart of accounts. Choose the chart of accounts if your checking account is already inserted.

Create a New Checking Account in the Chart of Accounts

  • In the drop-down box, your Chart of Accounts does not add the checking account you are connecting, click Add new
Add new bank account to Chart of Accounts
  • The Detail Type must be verifying and The Account Type must be Bank. When you have access to all the information, tap the green Save and Close button, and back to the prior screen with the new account selected

Step 4: Selecting the Right Date Range

  • First of all, when you assigning your bank account to an account from your Chart of Accounts, firstly decide how up to a point back QuickBooks should go to pull transactions
  • The beginning of the year is to pull transactions by default start date. When you wish to start using QuickBooks Online then you should try to pull transactions return to the date. If your bank or QuickBooks doesn’t permit you to go back that up to a point, you will have to transfer the previous transactions utilizing a QuickBooks Online or CSV file.
  • If you import bring transactions that are too ancient from before you started utilizing QuickBooks Online you will have to delete each and every transaction manually.

Step 5: Review Downloaded Transactions in the Banking Center

  • When you connect your bank account then QuickBooks Online will take you to the Banking Center
  • Transactions for review: It is on the left corner of the Banking Center which is upper side in orange number. It is the number of transactions that were imported from bank account analysis.
  • Review Tab: In this tab, it labeled for review lists all the transfers imported from your bank account that is equipped for review.
  • Add account: When you want to connect another bank to QuickBooks Online, then tap the green add account button which is in the upper right corner of the desktop screen, and constantly doing this process.
  • At last, your bank is connected new transfers will be imported automatically into daily QuickBooks Online. 

Steps to Import Bank Transactions with CSV files with a Tool kit

CSV files are simple files with tabular data, in this area, the file is separated from the next one or a single comma. Most spreadsheets support this format, although you can create and edit a CSV file with any text editor such as Notepad.

To import the CSV file in the CSV format firstly you need to install the QuickBooks Import Excel and CSV toolkits.

The CSV toolkit contains

  • Import from Excel and CSV Manual- means a PDF document with instructions for best practice and notes
  • CSV example folder-for sample CSV files, one for each type of list.
  • XLS example folder-a sample Excel file containing worksheets, one for each type of list.
  • Allowed field-a reference guide explaining what fields are available for Excel and CSV import.

Steps to install the QuickBooks Import Excel and toolkit

  • First of all open the file download window for the toolkit
  • Select the save.
  • Then Go to your Windows Desktop, then select Save.
  • Double click on QuickBooks Import Excel and CSV.exe on your Windows desktop
  • To open the WinZip Self-Extractor window.
  • Select the Browse
  • And then choose the folder where you want to install the toolkit (such as your Desktop), then OK.
  • To Select Unzip and to extract the contents,
  • And then click Close to close the WinZip Self-Extractor window.
  • Open QB import excels file.

Final Note

At the end of this post, we look for the best way to bring bank statements into QuickBooks, after reading the whole information shared in this post. After this post, if you still face any problem with the same or any QuickBooks-related problem, then you can contact Uberaudit for an instant, and effective QuickBooks Support. We are always ready to help you. Lastly, we want to say thanks for visiting our site.

Call Now

    Contact our Experts

    Get your accounting work done by experienced accountants. Fix all your accounting software errors & problems.