and now we will learn about importing CSV files into your quickbooks online banking center
importing csv files have a few important facts that you have to remember number one they go on
the review list for bank feeds the same as if you downloaded the transactions from bank feeds after
you input everything is exactly the same as if you input through bank feeds that means that the
rules that you set up will apply the suggested matches will come the exact same way the only
difference between importing a CSV file in a QBO file is that all the deposits are assigned
to the suggested account uncatted Erised income and all the payments and checks are assigned to
the suggested account uncatted Erised expense so what must you do well first you have to download
it the same way as you would download a QBO file now here I am logged in to my Chase business bank
account to see the activity and as you can see I am still unsuccessful in business but if you have
chase you can look to the right of your summary and click where it says see more choices now of
course if you do not have chase you will have to contact your own financial institution and find
out where to click when you log in to your online banking but in this case I do have chase so all I
have to do is click download account activity and notice I come back to the same place that
I was at in the previous video when I downloaded the QBO file I can just click continue and I'll
come to a window that will ask me number one which particular bank account I'm downloading
number two do I want to download all transactions or a specific date range in this case I'm going to
leave it as all transaction now the most important choice down here is save download type now in this
video we're learning about comma separated values and we click here now when we click
download activity you can see in the bottom left that I have downloaded this this CSV file now if
I open it up you can see that the default program that opens it up is Microsoft Excel and you will
notice it really only has four columns and I'm going to stretch them a little wider if you're
working with QuickBooks it is assumed you have some basic knowledge of Excel and you can see
even though this fifth column is here in column E it really didn't put any information it really
only put type and it only put debit and credit so that's not really important and of course date
description and amount are the only things that you're really getting if you download the file
in this format so what do we do next well we have to import we have to import the file in the same
place as we did with QBO files if you remember the previous video we were in the banking center and
we had chosen the new checking account now as you can see the new checking account is empty
there's nothing for review there's nothing in QuickBooks and there's nothing excluded at least
not yet so now we will import in the same place as the QBO files well how did we do that well
when the account is in front of you do not click update' click the pull down arrow and choose file
upload then you get this window click browse and we'll find the JPMorgan Chase the one that has
the CSV extension and now we'll click open once the file is selected go to the bottom right of
the screen and click Next now we have to choose which particular account in QuickBooks Online
account this file and these bank transactions will be imported to in this case in this case
we click click the pull down menu we get a choice of mostly bank type of accounts or even current
assets in this case I'm going to choose the new checking account which is the one we're working
with and click Next now here we have to map the three columns date description and amount and
map means that we match the columns in the file to the columns that qbo is asking for now here we are
again in the column excuse me here we are again in the file and we can see this first column column
number one would be a column number two would be B column number three would be C and so on
so when we look at the quickbooks online window quickbooks is suggesting that the date column is
column number two and in this case you can see the suggestion is correct the post date or the column
with the heading post date is the second column to the right and that's why it says date column
two post date now description QuickBooks suggests column three because the heading is description
one two three this is the third column over to the right you know from the left that's what the
heading is description so QuickBooks is correct we'll leave this choice description now as far
as amount which column do you think it is column four has the heading amount and we can look in
the file and double check that that is the fourth column from you know starting from the left so now
everything has been mapped appropriately when we click next we'll get a list of every transaction
in the file and this is our chance to remove the check mark and exclude any transactions that we
don't want to be imported from this list in our case I think we'll leave all of these checked and
we'll click next now it's asking us if we're sure we're going to click yes and before you know it
all of these transactions will have been imported successfully into the quickbooks online account
when we click let's go we find ourselves back here in the same window in the new checking account but
now you can see all of the transactions that were on that list a moment ago have been imported into
the for review section now you must go through them and record transaction by transaction and
clarify which is income expense or transfer so if you look closely you can see that all of these
either say uncatted Erised income or uncatted but maybe says Uncategorized asset transfer to on
categorized asset now again sometimes it suggests accounts instead of just putting it because that's
the auto match just giving a suggestion but no matter what you have to go through it one by one
before you add now I want to show you that from this point forward everything is the same as it
was when we did bank fees in fact if we click here well let me just scroll down a little if we click
right here right here in QuickBooks aha notice they're a whole bunch that have just been recorded
directly into QuickBooks and if you watched our previous videos you can see that these all come
from the rules that we set up in the previous video when we were learning about rules so all of
these got recorded as transactions and are already affecting the financial records of the company and
that happened in the blink of an eye when it was imported all the ones that don't match a rule are
still here for review and you would have to do the same thing that you did when you downloaded them
to directly from the bank you have to click on it and then you have to decide you want to add it or
find a match or instead of finding a match is this a transfer from another account and then you would
choose the other account you're transferring it from and you would have to go through that
one-by-one and do that for any ones where there's no automatic rule so in a way it's exactly the
same now the only difference is something that is similar between CSV files and qbo files the
difference between importing a webconnect file and downloading it from the bank and this includes the
CSV if you accidently exclude a transaction and then you delete it from the exclude list you can
bring it back by importing the file again however if you accept into QuickBooks as a transaction it
will not reload it into the review list when you import the file again and that's true even
if you delete the transaction from QuickBooks so these three facts are the same as they were in the
previous video when we imported qvo files and if you're not sure that I'm right you can experiment
which eat with each each of these three conditions but I wish you good luck in importing your files