welcome to the fit small business
quickbooks online training course in
this lesson we're going to cover how to
manually enter banking transactions in
quickbooks online to follow along with
me login to your quickbooks online
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other helpful resources let's get
started the most efficient way to import
your banking transactions into
quickbooks
is by automatically connecting your bank
account to quickbooks or importing your
banking transactions from an excel csv
file click here to view instructions on
how to import your banking transactions
if you are unable to do this because
your financial institution is a smaller
bank that does not offer either of these
options you will need to manually enter
your banking transactions into
QuickBooks before you can manually enter
your making transactions into QuickBooks
you need to setup the bank account to
start navigate to the chart of accounts
list by clicking on the gear icon
located to the left of your company name
below the your company column select
chart of accounts the chart of accounts
will display on this screen we want to
go ahead and click the new button over
to the right and these are the fields
that we need to complete to set up a new
account category type all checking money
market and savings accounts that you
connect to QuickBooks will fall into the
bank category here detail type this
field allows you to select the type of
bank account that you are setting up but
will go ahead and select checking our
options here our cash on hand checking
money market rent held for trust savings
and trust account in the name field this
is how it's going to display the name of
the account in QuickBooks I recommend
that when you indicate the name here in
this field you want to include the last
four digits of the account number as
well this will help you to easily
distinguish accounts when writing checks
and reconciling and we will copy this
name information also to the description
field
the balance field is probably the most
important field in this setup be sure
that you have a copy of your bank
statement handy in order for you to
successfully reconcile your bank
accounts you need to indicate the ending
balance on your bank statement here the
bank statement that you use will be
determined by the date that you start
using QuickBooks for example if you
start using QuickBooks as of January 1st
then you want to use an ending balance
on your december bank statements when
you set up your bank account in
quickbooks the as of date is going to
have the same date as the bank statement
that you used for the balance
information once you have verified all
the information is accurate you want to
go ahead and save and close once we do
that the new account will appear on the
chart of accounts list on the next
screen now that we're back at our chart
of accounts here is the account that we
just set up and we want to go ahead and
take a look at the check register so
click the blue link to the far right
that says view register there are
several fields of information in this
screen that we need to enter when we
enter a manual transaction into
QuickBooks so the first field here is
the bank register field from here if you
click the drop-down you can determine
what bank account you are in so
determine what bank account that you
want to actually wipe the cheque from or
enter a transaction from this view you
want to be able to select the account
that you want to enter the transaction
from the ending balance is the current
balance of the bank account when you
create a check and QuickBooks the bank
account balance is immediately updated
regardless of whether or not you have
printed to check in the reconciling bank
accounts lesson we will walk through
step by step to show you how to
reconcile bank accounts in QuickBooks
the date field is going to be the date
of the transactions or for example the
check date or the deposit date the
reference number and type field is going
to have a reference number such as a
check number and then the transaction
type will be right below that so for
example check transfer or deposit the
payee and
count field for withdrawals this field
will include the payee and the expense
account the purchase was categorized to
four deposits this field will include
the customer the payment was received
from along with the income account it
was categorized - typically in the memo
field you would include some additional
information about the transaction for
example August rent or an account number
you want to enter the amount paid in the
payment field if applicable or you want
to enter the deposit amount in the
deposit field if that's applicable the
balance field is the running balance
that is automatically updated after each
transaction to enter a banking
transaction we want to go ahead and
click on the drop down arrow to the
right of add check and select from the
following transaction types we will go
ahead and enter a check for paul's
plumbing here so we'll select the
transaction date and the reference
number will be the check number we'll
select our payee as plumbing supplies
our US and the memo field will indicate
what we purchased payment field will
indicate the amount that we pay for the
purchase in the field right below the
payee field this is the account that we
want to categorize this expense to and
once we have entered all the information
we can go ahead and save our changes if
you do need to make changes to a
transaction that was previously entered
into the check register we can easily do
that if we go back to our chart of
accounts and then from the chart of
accounts we want to go ahead and click
on the view register and the far right
column next to the bank account
once we are in the register we need to
locate the transaction that we want to
make changes to and you simply just
click in that area of the transaction
and it will activate all the fields that
we can edit so you can make any
necessary changes that you need to and
then go ahead and save those changes
that wraps up the lesson on how to
manually enter banking transactions in
QuickBooks Online to access our full
QuickBooks Online course or any of the
other lessons in this series click this
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